Achieve Life Sciences Inc (NASDAQ: ACHV) is having an overwhelmingly strong start to the trading session today, and for good reason. The company released preliminary data with regard to a key clinical trial, causing excitement among investors and sending the stock on a run for the top. Today, we’ll talk about the data that was released, what we’re seeing from ACHV, and what we’ll be watching for ahead.
ACHV Gains Big On Preliminary Data
As mentioned above, Achieve Life Sciences is having an overwhelmingly strong day in the market today after announcing preliminary data. The data came from the company’s Phase I/II multi-dose, pharmacokinetic and pharmacodynamics clinical study of cytisine. Cytisine is a treatment that is in development for smoking cessation.
According to the release, the ACHV study was initiated in October of 2017, evaluating the repeat-dose PK and PD effects of 1.5mg and 3mg cytisine in 24 healthy volunteer smokers between the ages 18 and 65 years. The company said that the PK results indicated increases in plasma concentration between the standard and higher doses of cytisine with no evidence of drug accumulation.
While those included in the study did not have a goal quit date, 58% of subjects in the trial quit smoking by day 26, which was biochemically verified. This included half of the subjects on the 1.5mg dose arm and 67% of subjects on the 3.0 mg dose arm. While some of the subjects in the ACHV did not quit smoking entirely, all subjects saw a significant reduction in the number of daily cigarettes smoked by the end of the treatment period. In a statement, Dr. Cindy Jacobs, Executive Vice President and Chief Medical Officer at ACHV, had the following to offer:
The abstinence rates observed with cytisine are particularly impressive given the short 25-day treatment period. In addition, subjects did not commit to quitting and received only minimal behavioral support. Setting an actual quit date and receiving enhanced behavioral support are key factors to improve smoking cessation outcomes… We are encouraged by these results that further support our Phase 3 program that we expect to initiate mid-2018.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dabble in the market is that it’s important to keep a close eye on the news. After all, the news moves the market. In this particular case, the news proved to be overwhelmingly positive. With the strong preliminary results in mind, excited investors are sending the stock on a tear towards the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:10), ACHV is trading at $1.83 per share after a gain of $0.41 per share or 28.87% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on ACHV. In particular, we’re interested in following the story surrounding the company’s continued work with regard to cytisine and excited to see the Phase 3 trial move into place later this year. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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