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ACHV Achieve Life Sciences

Achieve Life Sciences, Inc. is a clinical-stage pharmaceutical company, which engages in the development and commercialization of cytisinicline for smoking cessation. Its products includes cytisine, a plant-based alkaloid with a binding affinity to the nicotinic acetylcholine receptor. The company was founded in October 1991 and is headquartered in Vancouver, Canada.

Company profile

Ticker
ACHV
Exchange
CEO
Richard Stewart
Employees
Incorporated
Location
Fiscal year end
Former names
ONCOGENEX PHARMACEUTICALS, INC., SONUS PHARMACEUTICALS INC
SEC CIK
IRS number
954343413

ACHV stock data

(
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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

11 Mar 21
17 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 35.9M 35.9M 35.9M 35.9M 35.9M 35.9M
Cash burn (monthly) (positive/no burn) (positive/no burn) 3.15M 2.49M 826.67K 1.12M
Cash used (since last report) n/a n/a 11.22M 8.88M 2.95M 4M
Cash remaining n/a n/a 24.68M 27.02M 32.96M 31.9M
Runway (months of cash) n/a n/a 7.8 10.9 39.9 28.4

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
15 Mar 21 Bridget A Martell Stock Option Common Stock Grant Aquire A No No 12.1 5,650 68.37K 5,650
26 Jan 21 John Bencich Stock Option Common Stock Grant Aquire A No No 13.09 60,000 785.4K 60,000
26 Jan 21 John Bencich RSU Common Stock Grant Aquire A No No 0 15,000 0 15,000
26 Jan 21 Clarke Anthony Stock Option Common Stock Grant Aquire A No No 13.09 8,000 104.72K 8,000
26 Jan 21 Clarke Anthony RSU Common Stock Grant Aquire A No No 0 2,000 0 2,000
26 Jan 21 Cindy Jacobs Stock Option Common Stock Grant Aquire A No No 13.09 30,000 392.7K 30,000
26 Jan 21 Cindy Jacobs RSU Common Stock Grant Aquire A No No 0 5,000 0 5,000

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Largest transactions
Shares Bought/sold Change

Financial report summary

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Management Discussion
  • Research and development expenses for the years ended December 31, 2020, 2019 and 2018 were $6.9 million, $9.7 million and $5.9 million, respectively. The decrease in 2020 as compared to 2019 was primarily due to timing of our completion of the ORCA-1 trial, a Phase 2b optimization study that was initiated in October 2018 and completed in June 2019 and the initiation of the ORCA-2 trial in October 2020. The increase in 2019 as compared to 2018 was primarily due to our ORCA-1 trial, a Phase 2b optimization study that was initiated in October 2018 and was completed in June 2019.
  • G&A expenses for the years ended December 31, 2020, 2019 and 2018 were $7.9 million, $6.9 million and $6.9 million, respectively. The increase in 2020 as compared to 2019 was primarily due to higher employee costs, increased activity on patent development, additional market research and public relations activities, and increased insurance premiums. This was partially offset by lower travel costs as a result of travel restrictions across the United States and other countries during the COVID-19 pandemic. General and administrative expenses remained flat in 2019 as compared to 2018.
  • We have incurred an accumulated deficit of $60.4 million through December 31, 2020 and we expect to incur substantial additional losses in the future as we operate our business and continue or expand our R&D activities and other operations. We have not generated any revenue from product sales to date, and we may not generate product sales revenue in the near future, if ever. As of December 31, 2020, we had a cash and cash equivalents balance of $35.9 million and a positive working capital balance of $34.0 million. We have historically financed our operations through equity financings. While we believe that we will be able to settle our commitments and liabilities in the normal course of business as they fall due during the next 12 months, as a development-stage company with no current sources of revenue, we are dependent on our ability to raise funds (through public or private securities offerings, debt financings, government funding or grants, or other sources, which may include licensing, collaborations or other strategic transactions or arrangements) to support the ongoing advancement of our clinical trials and corporate activities.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
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