ACHV Stock On Track To For Best Day In Over 7 Years — What’s Driving The Rally?

• Achieve on Monday appointed physician Andrew D. Goldberg as CEO and a member of its Board of Directors.
• Separately, the company also said that it has entered into a securities purchase agreement with leading healthcare investors for a private placement of its securities for gross proceeds up to approximately $354 million. 
• Achieve is now looking forward to launching cytisinicline for nicotine dependence in the first half of 2027.

Shares of Achieve Life Sciences Inc. (ACHV) gained 42% on Thursday after the company appointed a new CEO, shortly after announcing a private placement of up to $354 million, as it gears towards getting regulatory approval for its experimental drug for the treatment of nicotine dependence.

The stock is on track to clock its best day since February 2019, if gains hold.

New CEO, Board Appointments

Achieve on Monday appointed physician Andrew D. Goldberg as CEO and a member of its Board of Directors. Goldberg, who most recently served as a Portfolio Manager at Marshall Wace, will replace Richard Stewart as CEO.

The company also appointed Lucian Iancovici and Aaron E. Royston as members of the company’s board of directors.

Fresh Funding

Separately, the company also said that it has entered into a securities purchase agreement with leading healthcare investors for a private placement of its securities.

The placement includes an initial upfront funding of approximately $180 million and an additional amount of up to approximately $174 million on exercise of milestone-driven warrants. The net proceeds from the placement is expected to fund a clinical trial for cytisinicline for e-cigarette cessation, the commercialization of cytisinicline, and for working capital and general corporate purposes, the company said.

Near-Term Milestones

Achieve is now looking forward to the U.S. Food and Drug Administration’s approval of cytisinicline as a treatment for nicotine dependence.

Earlier this week, the company said that it expects the FDA to reject its current application by June 20, provided that the agency found manufacturing concerns at its third-party manufacturing facility. Once the formal rejection is received, the company expects to resubmit its application naming  Adare Pharma Solutions as its manufacturer for commercial supply in the fourth quarter of 2026, it said. The company continues to expect to launch cytisinicline in the first half of 2027.

How Did Retail Traders React?

On Stocktwits, retail sentiment around ACHV stock stayed within the ‘extremely bullish’ territory over the past 24 hours, while message volume increased from ‘normal’ to ‘high’ levels.

A Stocktwits user expressed optimism for the company getting acquired after approval for cytisinicline.

Another user expressed optimism for a good year following the “professional” announcements.

ACHV stock has more than doubled over the past 12 months. 

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