Achieve Life Sciences Files Q3 2024 10-Q

TL;DR

Achieve Life Sciences filed its 10-Q for Q3 2024, detailing financials and past corporate changes.

AI Summary

Achieve Life Sciences, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported on its financial position and business operations, including details on its former names, OncoGenex Pharmaceuticals, Inc. and Sonus Pharmaceuticals Inc. The filing also references specific financial instruments and agreements, such as a Convertible Term Loan and warrants issued in December 2019.

Why It Matters

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

Risk Assessment

Risk Level: medium — The company has a history of name changes and is involved in complex financial instruments, suggesting potential volatility and risk.

Key Numbers

• 2024-09-30 — Reporting Period End (The 10-Q covers financial data up to this date.)
• 2024-11-07 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Achieve Life Sciences, Inc. (company) — Filer
• OncoGenex Pharmaceuticals, Inc. (company) — Former company name
• Sonus Pharmaceuticals Inc (company) — Former company name
• 2024-09-30 (date) — Reporting period end date
• 2024-11-07 (date) — Filing date
• 2023-07-01 (date) — Start date for a reporting period
• 2023-09-30 (date) — End date for a 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-20240930.htm (10-Q) — 2172KB
• achv-ex10_3.htm (EX-10.3) — 96KB
• achv-ex10_4.htm (EX-10.4) — 110KB
• achv-ex31_1.htm (EX-31.1) — 10KB
• achv-ex32_1.htm (EX-32.1) — 6KB
• 0000950170-24-123375.txt ( ) — 8729KB
• achv-20240930.xsd (EX-101.SCH) — 1279KB
• achv-20240930_htm.xml (XML) — 1360KB

Financial Information

Part I. Financial Information 5 Item 1 Consolidated Financial Statements (unaudited) 5 Consolidated Balance Sheets as of September 30, 2024 (unaudited) and December 31, 2023 5 Consolidated Statements of Loss and Comprehensive Loss (unaudited) for the three and nine months ended September 30, 2024 and September 30, 2023 6 Consolidated Statements of Cash Flows (unaudited) for the nine months ended September 30, 2024 and September 30, 2023 7 Consolidated Statements of Stockholders' Equity (unaudited) for the nine months ended September 30, 2024 and September 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 24 Item 4.

Controls and Procedures

Controls and Procedures 35

Other Information

Part II. Other Information 37 Item 1A.

Risk Factors

Risk Factors 37 Item 6. Exhibits 69 Items 2, 3, 4 and 5 are not applicable and therefore have been omitted.

Signatures

Signatures 71 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