Achieve Life Sciences Inc (NASDAQ: ACHV) is having an explosive start to the trading session this morning, and for good reason. The company announced positive data from a smoking cessation study, exciting investors and pushing the stock for the top. Today, we’ll talk about:
- The data that was released;
- what we’re seeing from ACHV stock as a result; and
- what we’ll be watching for ahead.
ACHV Announces Positive Clinical Data
As mentioned above, Achieve Life Sciences is having an incredibly strong start to the trading session this morning after the company announced positive data. The data came from the company’s Phase I/II multi-dose, pharmacokinetic and pharmacodynamics study of cytisinicline.
Cytisinicline is being developed by ACHV as a smoking cessation treatment. In the release, the company said that the results of the study will be presented today at the Society for Research on Nicotine & Tobacco Annual Meeting.
The Phase I/II clinical study evaluated the repeate-dose PK and PD effects of both 1.5 mg and 3.0 mg cytisinicline. The treatment was provided to 26 heatly volunteer smokers and administered over the course of 25 days.
Smokers in the study smoked 17.2 cigarettes per day on average. While smokers weren’t required to try to quit smoking or set a quit date, subjects in the study saw an 80% reduction in the amount of cigarettes smoked.
The reduction in cigarettes smoked led to an 82% reduction in expired carbon monoxide and 46% of patients had stopped smoking entirely. The company also said that mild headache was an adverse event, however no serious adverse events were recorded and the treatment was generally well-tolerated.
In a statement, Cindy Jacobs, CMO at ACHV, had the following to offer:
Given the short 25-day treatment period, the abstinence rates observed are impressive, particularly since subjects were not required to commit to quitting and received minimal behavioral support during the study. These results continue to support our belief that cytisinicline could be a well-tolerated and effective potential treatment option for the millions of people who are battling nicotine addiction.
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. When it comes to Achieve Life Sciences, the news proved to be overwhelmingly positive.
After all, the results of the clinical study far surpassed the primary endpoint. These positive results mean that the company is one step closer to the potential submission of a New Drug Application with the United States Food and Drug Administration.
So, it’s not surprising to see that excited investors are pushing the stock on a run for the top in the market today. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:43), ACHV is trading at $3.37 per share after a gain of $1.58 per share or 88.17% 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 company’s continued work to bring cytisinicline to market as an option for smokers to reduce intake or even quit. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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