Achieve Life Sciences Inc (NASDAQ: ACHV) is making a run for the top in the pre-market hours this morning, and for good reason. The company announced a positive result from a Data Safety Monitoring Committee (DSMC) review.
As you could imagine, the news excited investors who are sending the stock on a run for the top. Today, we’ll talk about:
- The results of the review;
- what we’re seeing from ACHV stock as a result; and
- what we’ll be watching for ahead.
ACHV Announces Positive DSMC Review News
As mentioned above, Achieve Life Sciences is having an incredibly strong start to the trading session this morning after announcing the positive result of a DSMC review. The news came by way of press release early this morning.
In the release, the company said that the DSMC met on March 28, 2019 to conduct its second and final safety review of the ORCA-1 clinical trial. ACHV said that the committee has reviewed the data twice during the conduct of the study and has concluded that there are no safety concerns for subjects or study conduct issues.
Moreover, the DSMC concluded that the trial should continue for completion as planned. As a result, the company said that it is expecting ORCA-1 topline efficacy and safety data to be released by the end of the second quarter.
In a statement, Dr. Cindy Jacobs, CMO at ACHV, had the following to offer:
We are very pleased with the speed of enrollment and efficient conduct of the ORCA-1 trial, which is attributed to the commitment of the trial subjects, clinical investigators and their support teams. We look forward to sharing the data results in the near future.
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 leads to moves. As it relates to Achieve Life Sciences, the news proved to be overwhelmingly positive.
After all, the positive DSMC review means that the company will continue the trial as planned. Also, as we near the end of the trial, results are expected relatively soon.
So, it’s not surprising to see that excited investors are pushing the stock on a run for the top. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:05), ACHV is trading at $3.91 per share after a gain of $0.73 per share or 22.96% 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 cytisinicline to market as the smoking cessation treatment seems to be yielding positive results. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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