ACHV Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>ACHV has filed its Q1 2024 10-Q report detailing financial activities and corporate history.</b>

AI Summary

ACHIEVE LIFE SCIENCES, INC. (ACHV) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. ACHV filed a 10-Q for the period ending March 31, 2024. The filing includes details on warrants issued in April 2020 and February 2024. Information on convertible debt agreements and term loans with Silicon Valley Bank is present. The company's business address is in Seattle, WA. ACHV was formerly known as OncoGenex Pharmaceuticals, Inc. and Sonus Pharmaceuticals Inc.

Why It Matters

For investors and stakeholders tracking ACHIEVE LIFE SCIENCES, INC., this filing contains several important signals. This filing provides an update on the company's financial position and ongoing activities for the first quarter of 2024. Understanding the details of warrants, convertible debt, and past corporate changes is crucial for assessing the company's capital structure and strategic evolution.

Risk Assessment

Risk Level: medium — ACHIEVE LIFE SCIENCES, INC. shows moderate risk based on this filing. The company has a history of name changes and complex financial instruments like warrants and convertible debt, indicating potential financial complexities and past restructuring.

Analyst Insight

Review the detailed financial statements and disclosures in the 10-Q to understand the current financial health and any potential risks associated with outstanding warrants and debt.

Key Numbers

• 2024-03-31 — Reporting Period End Date (10-Q filing)
• 2024-05-09 — Filing Date (10-Q filing)
• 2835 — SIC Code (Standard Industrial Classification)
• 2008-08-21 — Date of Name Change (From OncoGenex Pharmaceuticals, Inc.)
• 1995-08-25 — Date of Name Change (From Sonus Pharmaceuticals Inc)

Key Players & Entities

• ACHIEVE LIFE SCIENCES, INC. (company) — Filer name
• ACHV (company) — Ticker symbol
• 2024-03-31 (date) — Conformed period of report
• 2024-05-09 (date) — Filed as of date
• Seattle, WA (location) — Business address
• OncoGenex Pharmaceuticals, Inc. (company) — Former company name
• Sonus Pharmaceuticals Inc (company) — Former company name
• Silicon Valley Bank (company) — Lender mentioned in relation to debt agreements

FAQ

Risk Factors

• Financial Instruments [medium — financial]: The filing references various financial instruments including warrants, convertible debt, and term loans, which carry inherent risks and complexities.
• Business Operations [medium — operational]: The company's operational status and future prospects are tied to its product development and market strategies, which are subject to inherent business risks.
• Regulatory Compliance [high — regulatory]: As a life sciences company, ACHV is subject to stringent regulatory oversight from bodies like the FDA, impacting product development and market access.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q was officially filed with the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides an update on the company's financial performance and condition during the quarter.)

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share ACHV The Nasdaq Capital M

Filing Documents

• achv-20240331.htm (10-Q) — 1591KB
• achv-ex31_1.htm (EX-31.1) — 10KB
• achv-ex32_1.htm (EX-32.1) — 6KB
• 0000950170-24-056929.txt (&nbsp;) — 6686KB
• achv-20240331.xsd (EX-101.SCH) — 1161KB
• achv-20240331_htm.xml (XML) — 1027KB

Financial Information

Part I. Financial Information 5 Item 1 Consolidated Financial Statements (unaudited) 5 Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023 5 Consolidated Statements of Loss and Comprehensive Loss (unaudited) for the three months ended March 31, 2024 and March 31, 2023 6 Consolidated Statements of Cash Flows (unaudited) for the three months ended March 31, 2024 and March 31, 2023 7 Consolidated Statements of Stockholders' Equity (unaudited) for the three months ended March 31, 2024 and March 31, 2023 8

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 4.

Controls and Procedures

Controls and Procedures 32

Other Information

Part II. Other Information 33 Item 1A.

Risk Factors

Risk Factors 33 Item 6. Exhibits 65 Items 2, 3, 4 and 5 are not applicable and therefore have been omitted.

Signatures

Signatures 66 2 INFORMATION REGARDING FORWARD LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties. We caution readers that any forward-looking statement is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statement. These statements are based on current expectations of future events. Such statements include, but are not limited to, statements about future financial and operating results, plans, objectives, expectations and intentions, costs and expenses, interest rates, outcome of contingencies, financial condition, results of operations, liquidity, business strategies, cost savings, objectives of management and other statements that are not historical facts. You can find many of these statements by looking for words like "believes," "expects," "anticipates," "estimates," "may," "should," "will," "could," "plan," "intend" or similar expressions in this Quarterly Report on Form 10-Q or in documents incorporated by reference into this Quarterly Report on Form 10-Q. We intend that such forward-looking statements be subject to the safe harbors created thereby. Examples of these forward-looking statements include, but are not limited to: progress and preliminary and future results of any clinical trials; anticipated regulatory filings and U.S. Food and Drug Administration, or FDA, responses, recommendations, requirements or additional future clinical trials; our ability to raise additional capital as needed to fund our planned development and commercialization efforts and repay our existing debt; the potential benefits and differentiated profile, FDA approval, commercialization and commercial market for cytisinicline; the performance of, and our ability to obtain sufficient supply of

View Full Filing

View this 10-Q filing on SEC EDGAR