Achieve Life Sciences Announces Changes in Executive Leadership and Board of Directors
26 Agosto 2024 - 3:30PM
Achieve Life Sciences, Inc. (Nasdaq: ACHV), a late-stage
pharmaceutical company dedicated to the global development and
commercialization of cytisinicline for smoking cessation and
nicotine dependence, today announced that Mr. Richard (Rick)
Stewart, Achieve’s co-founder and current Executive Chairman, will
reassume the role of Chief Executive Officer. John Bencich, who
served as the Company’s Chief Executive Officer for the past four
years, will serve as an advisor during the transition.
Additionally, the Company announced that Mr. Thomas (Tom) King,
currently the lead independent director of the Board of Directors,
will assume the role of Executive Chairman.
“The change in leadership is driven by the need to have a CEO
with substantial M&A and commercial experience pushing the
company forward to future critical milestones, whether that be a
potential licensing transaction or strategic transaction for the
commercialization of cytisinicline,” commented Tom King, Executive
Chairman of Achieve’s Board of Directors. “On behalf of Achieve, we
thank John for his tenure with the Company and appreciate his
assistance during this transition.”
“It’s been an incredible journey helping Achieve grow over the
past seven years and I wish the new leadership team continued
success as they drive the cytisinicline program forward to
patients,” commented John Bencich. “I am thankful for the time I
had at Achieve and all we accomplished, and am looking forward to
pursuing my next opportunity.”
Rick Stewart, Achieve Chief Executive Officer, added, “We remain
on track to meet our objectives for this year, including the
completion of enrollment of the ORCA-OL study, meeting with the FDA
for our End-of-Phase 2 meeting for vaping cessation under
Breakthrough Therapy designation, and furthering our progress on
the NDA submission, that we expect to file in the first-half of
2025. I look forward to my new role and leading our excellent team
to bring forward a potentially life-changing treatment for millions
of people who battle nicotine dependence, while at the same time
aiming to optimize shareholder value.”
About Achieve and CytisiniclineAchieve’s focus
is to address the global smoking health and nicotine addiction
epidemic through the development and commercialization of
cytisinicline. There are approximately 29 million adults in the
United States alone who smoke combustible cigarettes.1 Tobacco use
is currently the leading cause of preventable death that is
responsible for more than eight million deaths worldwide and nearly
half a million deaths in the United States annually.2,3 More than
87% of lung cancer deaths, 61% of all pulmonary disease deaths, and
32% of all deaths from coronary heart disease are attributable to
smoking and exposure to secondhand smoke.3
In addition, there are over 11 million adults in the United
States who use e-cigarettes, also known as vaping.4 In 2023,
approximately 2.1 million middle and high school students in the
United States reported using e-cigarettes.5 Currently, there are no
FDA-approved treatments indicated specifically as an aid to
nicotine e-cigarette cessation.
Cytisinicline is a plant-based alkaloid with a high binding
affinity to the nicotinic acetylcholine receptor. It is believed to
aid in treating nicotine addiction for smoking and e-cigarette
cessation by interacting with nicotine receptors in the brain,
reducing the severity of withdrawal symptoms, and reducing the
reward and satisfaction associated with nicotine products.
Cytisinicline is an investigational product candidate being
developed for the treatment of nicotine addiction and has not been
approved by the Food and Drug Administration for any indication in
the United States. For more information on cytisinicline and
Achieve visit www.achievelifesciences.com.
Forward Looking StatementsThis press release
contains forward-looking statements within the meaning of the “safe
harbor” provisions of the Private Securities Litigation Reform Act
of 1995, including, but not limited to, statements regarding the
timing and nature of cytisinicline clinical development and
regulatory review and approval, data results and commercialization
activities, the entry into any licensing or other strategic
transactions, the potential market size for cytisinicline, the
potential benefits, efficacy, safety and tolerability of
cytisinicline, the ability to discover and develop new uses for
cytisinicline, including but not limited to as an e-cigarette
cessation product, the development and effectiveness of new
treatments, and the ability to drive shareholder value. All
statements other than statements of historical fact are statements
that could be deemed forward-looking statements. Achieve may not
actually achieve its plans or product development goals in a timely
manner, if at all, or otherwise carry out its intentions or meet
its expectations or projections disclosed in these forward-looking
statements. These statements are based on management’s current
expectations and beliefs and are subject to a number of risks,
uncertainties and assumptions that could cause actual results to
differ materially from those described in the forward-looking
statements, including, among others, the risk that cytisinicline
may not demonstrate the hypothesized or expected benefits; the risk
that Achieve may not be able to obtain additional financing to fund
the development of cytisinicline; the risk that cytisinicline will
not receive regulatory approval or be successfully commercialized;
the risk that new developments in the smoking cessation landscape
require changes in business strategy or clinical development plans;
the risk that Achieve’s intellectual property may not be adequately
protected; general business and economic conditions; risks related
to the impact on our business of macroeconomic and geopolitical
conditions, including inflation, rising interest rates, increased
volatility in the debt and equity markets, actual or perceived
instability in the global banking system, global health crises and
pandemics and geopolitical conflict and the other factors described
in the risk factors set forth in Achieve’s filings with the
Securities and Exchange Commission from time to time, including
Achieve’s Annual Reports on Form 10-K and Quarterly Reports on Form
10-Q. Achieve undertakes no obligation to update the
forward-looking statements contained herein or to reflect events or
circumstances occurring after the date hereof, other than as may be
required by applicable.
Investor Relations ContactRich
Cockrellachv@cg.capital(404) 736-3838
Media ContactGlenn
SilverGlenn.Silver@Finnpartners.com(646) 871-8485
References 1VanFrank B, Malarcher A,
Cornelius ME, Schecter A, Jamal A, Tynan M. Adult Smoking Cessation
— United States, 2022. MMWR Morb Mortal Wkly Rep
2024;73:633–641. 2World Health Organization. WHO Report on the
Global Tobacco Epidemic, 2019. Geneva: World Health Organization,
2017. 3U.S. Department of Health and Human Services. The
Health Consequences of Smoking – 50 Years of Progress. A Report of
the Surgeon General, 2014. 4Cornelius ME, Loretan CG, Jamal A,
et al. Tobacco Product Use Among Adults – United States, 2021. MMWR
Morb Mortal Wkly Rep 2023;72:475–483. 5Birdsey J, Cornelius M,
Jamal A, et al. Tobacco Product Use Among U.S. Middle and High
School Students — National Youth Tobacco Survey, 2023. MMWR Morb
Mortal Wkly Rep 2023;72:1173–1182.
Achieve Life Sciences (NASDAQ:ACHV)
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Achieve Life Sciences (NASDAQ:ACHV)
Gráfica de Acción Histórica
De Ene 2024 a Ene 2025