Achieve Life Sciences (ACHV) Registration Filing summary

Company overview and business model

• Focuses on addressing nicotine addiction and smoking cessation through the development and commercialization of cytisinicline, a plant-based alkaloid targeting nicotinic acetylcholine receptors.

• Targets a large unmet need, with millions of smokers and e-cigarette users in the U.S. and globally, and no FDA-approved treatments for e-cigarette cessation.

• Cytisinicline is positioned as a differentiated product with robust efficacy, minimal side effects, and a potentially shorter course of therapy compared to existing treatments.

• Management has experience in developing under-utilized pharmaceutical compounds and plans to commercialize cytisinicline directly or via strategic collaborations.

Financial performance and metrics

• As of March 31, 2024, 34,251,911 shares of common stock were issued and outstanding, with no preferred stock outstanding.

• 3,228,829 shares reserved for issuance under equity plans, and 18,032,322 warrants outstanding with a weighted-average exercise price of $5.065 per share.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used for general corporate purposes, including research, clinical and process development, manufacturing, working capital, debt reduction, acquisitions, investments, and capital expenditures.

• Pending use, proceeds will be invested in short- or long-term investment-grade, interest-bearing securities.