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 positive results from a clinical study, exciting investors and sending the stock screaming for the top. Today, we’ll talk about:
- The results;
- what we’re seeing from ACHV as a result; and
- what we’ll be watching for ahead.
ACHV Announces Clinical Data
As mentioned above, Achieve Life Sciences is having an incredibly strong start to the trading session this morning after releasing clinical data. In a press release issued early this morning, the company provided clinical results from a study evaluating the effect of food on the bioavailabilit of a new formulation of cytisine, its smoking cessation aid.
During the study, ACHV evaluated the bioavailability of the new formulation of 3 mg cytisine under fed and fasted conditions in 12 healthy volunteer smokers. In the release, the company said that the study results demonstrated bioequivalence when cytisine was administered with or without food. In all cohorts, cytisine was extensively absorbed after oral administration with maximum concentration levels observed in the blood within less than two hours, with or without food. The company also said that total excretion levels of cytisine also remained equivalent in both cohorts. Finally, the company said that the new 3 mg formulation was ver well tolerated.
In a statement Rick Stewart, Chairman and CEO at ACHV, had the following to offer:
We believe this new cytisine formulation will allow for an extended shelf-life and will be used in the upcoming Phase 2b clinical trial as well as the Phase 3 clinical program… We are pleased with the similar results regarding this new formulation in smokers and that the higher dose of 3 mg cytisine continues to demonstrate a good safety profile with or without food.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In the case of Achieve Life Sciences, the news proved to be overwhelmingly positive. After all, the new formulation of cytisine has performed well. So, it comes as no surprise to see that excited investors are sending the stock screaming for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (7:45), ACHV is trading at $3.76 per share after a gain of $1.03 per share or 37.73% 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 continued development of the new cytisine formulation as it seems to be showing promise at the moment. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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