Achieve Life Sciences entered into an at-the-market (ATM) equity offering agreement to sell up to $150.0 million in common stock. The company intends to utilize the proceeds to support the commercialization of its lead asset, cytisinicline, and to advance clinical trials for e-cigarette cessation.
Key Highlights
- $150.0 million maximum aggregate offering price established under an Open Market Sale Agreement with Jefferies LLC.
- 3.0% maximum sales commission payable to Jefferies for shares sold through the ATM program.
- Proceeds earmarked specifically for the commercial launch of cytisinicline and a Phase 3 trial for e-cigarette cessation.