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Here's Why Achieve Life Sciences Is Soaring

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Shares of Achieve Life Sciences Inc. (ACHV) are up over 30% in pre-market trading on Friday, following encouraging final data from its phase I/II multi-dose, pharmacokinetic and pharmacodynamics clinical study of Cytisinicline in smokers.

In the study, the effects of Cytisinicline at 1.5 mg and 3.0 mg dosage in 26 healthy volunteer smokers when administered over the standard 25-day course of treatment were evaluated.

All subjects had a significant and immediate reduction in cigarettes smoked within 2 days of initiating Cytisinicline treatment. By Day 26, subjects had an average 80% reduction in cigarettes smoked, 82% reduction in expired carbon monoxide, and 46% had stopped smoking.

The biochemically verified smoking cessation rates were 39% and 54% in the 1.5 mg and 3.0 mg Cytisinicline treated groups, respectively, according to the Company.

A phase IIb optimization trial evaluating various dosing schedules of Cytisinicline for smoking cessation and potentially other addiction indications, dubbed ORCA-1, is underway - with topline efficacy and safety data expected to be announced in mid-2019.

ACHV closed Thursday's trading at $1.81, up 14.56%. In pre-market trading today, the stock is up 30.93% to $2.37.

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