Achieve Life Sciences ( (ACHV) ) has released its Q4 earnings. Here is a breakdown of the information Achieve Life Sciences presented to its investors.
Achieve Life Sciences is a late-stage specialty pharmaceutical company dedicated to developing and commercializing cytisinicline for nicotine dependence treatment, particularly focusing on smoking cessation. The company recently reported its financial results for the fourth quarter and year-end 2024, alongside updates on its cytisinicline development program.
Achieve Life Sciences highlighted several key milestones, including the completion of enrollment in the ORCA-OL long-term exposure trial and positive safety reviews, which are crucial for its planned new drug application (NDA) submission for cytisinicline by the end of the second quarter of 2025. The company also announced significant leadership appointments to strengthen its strategic and financial operations.
Financially, Achieve reported a net loss of $12.4 million for the fourth quarter and $39.8 million for the year 2024, with operating expenses totaling $39.1 million for the year. The company ended the year with $34.4 million in cash and equivalents, indicating a strong financial position to support its ongoing development efforts.
Looking ahead, Achieve Life Sciences is poised to submit its NDA for cytisinicline, aiming to introduce the first new FDA-approved nicotine dependence treatment in nearly two decades. The company’s leadership remains optimistic about its potential impact on public health and long-term shareholder value.