Achieve Life Sciences Files Q2 2024 10-Q

TL;DR

ACHV Q2 10-Q filed. Financials and operations update. Check it.

AI Summary

Achieve Life Sciences, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported on its financial condition and business operations, including details on fair value measurements and stock-based compensation. The filing also references previous corporate names like OncoGenex Pharmaceuticals, Inc. and Sonus Pharmaceuticals Inc.

Why It Matters

This filing provides investors with an update on Achieve Life Sciences' financial health and operational status for the second quarter of 2024, crucial for understanding the company's trajectory.

Risk Assessment

Risk Level: medium — As a life sciences company, Achieve Life Sciences is subject to inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)

Key Players & Entities

• Achieve Life Sciences, Inc. (company) — Filer of the 10-Q
• OncoGenex Pharmaceuticals, Inc. (company) — Former company name
• Sonus Pharmaceuticals Inc (company) — Former company name
• 20240630 (date) — End of reporting period

FAQ

Key Financial Figures

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

Filing Documents

• achv-20240630.htm (10-Q) — 1940KB
• achv-ex31_1.htm (EX-31.1) — 10KB
• achv-ex32_1.htm (EX-32.1) — 6KB
• 0000950170-24-096193.txt ( ) — 7863KB
• achv-20240630.xsd (EX-101.SCH) — 1247KB
• achv-20240630_htm.xml (XML) — 1263KB

Financial Information

Part I. Financial Information 5 Item 1 Consolidated Financial Statements (unaudited) 5 Consolidated Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 5 Consolidated Statements of Loss and Comprehensive Loss (unaudited) for the three and six months ended June 30, 2024 and June 30, 2023 6 Consolidated Statements of Cash Flows (unaudited) for the six months ended June 30, 2024 and June 30, 2023 7 Consolidated Statements of Stockholders' Equity (unaudited) for the six months ended June 30, 2024 and June 30, 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 23 Item 4.

Controls and Procedures

Controls and Procedures 33

Other Information

Part II. Other Information 35 Item 1A.

Risk Factors

Risk Factors 35 Item 6. Exhibits 67 Items 2, 3, 4 and 5 are not applicable and therefore have been omitted.

Signatures

Signatures 68 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