Achieve Life Sciences Q2 net loss $10.5M; Phase 3 success and $2.5M NIH grant

ACHIEVE LIFE SCIENCES, INC.

2022-Q2 EPS reported -$1.89

Q2 2022 net loss of $10.5M; operating expenses $10.1M; cash & restricted cash $29.4M as of June 30.
Phase 3 ORCA-2 trial in 810 smokers: 6–8x increased odds of smoking abstinence vs placebo (statistically significant).
Awarded $2.5M NIH grant for Phase 2 ORCA-V1 trial evaluating cytisinicline in e-cigarette users; trial initiated.
ORCA-3, the final NDA-enabling smoking cessation trial, continues enrolment.

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