Categories Earnings, Health Care

Achieve Life Sciences (ACHV): Q4 2019 Earnings Snapshot

— Achieve Life Sciences (NASDAQ: ACHV) reported Q4 2019 net loss of $3.2 million, or $0.30 per share, compared to a loss of $3.6 million, or $0.55 per share, last year.   

— Total operating expenses were $3.2 million.

— At December 31, 2019, cash, cash equivalents and restricted cash was $16.7 million.

— Achieve Life Sciences completed a meeting with the US FDA to finalize the Phase 3 cytisinicline clinical development program.  

— The company established an agreement with the FreeMind Group to assist in securing non-dilutive funding to evaluate cytisinicline in vapers and e-cigarette users.  

— The company closed an underwritten public offering for gross proceeds of $13.8 million, before underwriting discounts and commissions and offering expenses.  

— ACHV shares were up 12.7% in premarket hours on Friday.

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