Achieve Life Sciences Inc (NASDAQ: ACHV) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced clinical data that proved to be positive. Of course, the news excited investors who are sending the stock screaming for the top. Today, we’ll talk about:
- The data;
- what we’re seeing from the stock; and
- what we’ll be watching for with regard to ACHV ahead.
ACHV Announces Clinical Results
As mentioned above, Achieve Life Sciences is having an incredibly strong start to the trading session this morning after providing positive clinical results. In a press release issued early this morning, the company announced positive results from a series of drug metabolism, drug-drug interaction and transporter studies with cytisine. Cytisine is a product candidate the company has been working on in the field of smoking cessation.
In the release, ACHV announced that data from the study demonstrate no clinically significant interaction with any of the hepatic enzymes commonly responsible for drug metabolism nor clinically significant interaction with drug transporters. As a result, the data suggest that cytisine may be administered with other medications without the need to modify the dose of the co-administered drug. In a statement, Dr. Anthony Clarke, Chief Scientific Officer at ACHV, had the following to offer:
We are very pleased with the results of these detailed studies. Smokers are as likely as anyone to take medications for a range of conditions. These results suggest that cytisine is unlikely to interfere with their ability to take other medications safely, and should help to minimize restrictions on the eligibility of subjects in our forthcoming clinical trials expected to commence later this year.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news causes moves. In the case of Achieve Life Sciences, the news proved to be overwhelmingly positive. After all, the company released positive clinical data, the type of data that has the ability to really excite biotechnology investors, and excite it did. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (7:37), ACHV is trading at $4.70 per share after a gain of $0.90 per share or 23.68% 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 in the smoking cessation space as cytisine seems to be generating strong results. Nonetheless, we’ll continue to follow the news closely and bring it to you as it breaks!
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