Achieve Life Sciences Inc (NASDAQ: ACHV) is firing on all cylinders this morning in the pre-market hours after announcing the initiation of a clinical trial in smoking cessation. As you could imagine, the news of the trial initiation proved to be a source of excitement for investors and the stock is running for the top as a result. Today, we’ll talk about:
- The trial initiation;
- what we’re seeing from ACHV stock as a result; and
- what we’ll be watching for ahead.
ACHV Announces Trial Initiation
As mentioned above, Achieve Life Sciences is flying in the pre-market this morning after announding that it has initiated a clinical trial. The company said that it has initiated the Phase 2b ORCA-1 trial in the indication of smoking cessation.
Through the trial, the company will evaluate the effectiveness of cytisinicline for smoking cessation as well as other potential indications. Through the trial, both 1.5mg and 3mg doses of cytisinicline will be assessed on a declining titration schedule over the course of 25 days. The doses will be provided by ACHV on a three times daily schedule.
The company said that the trial will be randomized and blinded in order to compare the effectiveness of cytisinicline doeses and schedules to placebo groups. Ultimately, the company plans to prove that while being treated with cytisinicline, patients smoke less cigarettes. There will also be secondary analyses on smoking cessation rates, safety and compliance. It is expected that 250 patients will be included in the trial.
In a statement, Rick Stewart, Chairman and CEO at ACHV, had the following to offer:
The initiation of the ORCA-1 trial demonstrates our continued progress and commitment to expeditiously developing cytisinicline as a treatment for smoking cessation in the U.S… We intend to utilize our learnings from this trial to finalize the Phase 3 program, expected to begin later next year.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn when we start to dig into the market is that the news leads to moves. Well, Achieve Life Sciences released some overwhelmingly positive news this morning. After all, the initiation of the Phase 2b clinical trial in smoking cessation brings the company one step closer to the potential commercialization of cytisinicline. So, it’s not surprising to see that excited investors are sending the stock on a run for the top in the market this morning. At the moment (8:00), ACHV is trading at $2.87 per share after a gain of $0.76 per share or 36.01% 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 Phase 2b clinical trial for cytsinicline as well as the continued development of the rest of the company’s pipeline. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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