Achieve Life Sciences, Inc. Announces Reverse Stock Split
SEATTLE and VANCOUVER, British Columbia, May 23, 2018 /PRNewswire/ -- Achieve Life Sciences, Inc. (NASDAQ: ACHV), a clinical-stage pharmaceutical company committed to the global development and commercialization of cytisine for smoking cessation, today announced a reverse stock split of its shares of common stock at a ratio of 1-for-10. The reverse stock split will become effective on May 23, 2018, and shares will begin trading on the split-adjusted basis on the Nasdaq Capital Market under the Company's existing trading symbol "ACHV" at market open on May 24, 2018. The new CUSIP number following the reverse stock split will be 004468203. At the effective time of the reverse stock split, every ten shares of the Company's issued and outstanding common stock will be automatically combined and reclassified into one issued and outstanding share of common stock. The reverse stock split will not affect any stockholder's ownership percentage of the Company's common stock, alter the par value of the Company's common stock, or modify any voting rights or other terms of the common stock. The reverse stock split was approved by Achieve's stockholders at the Company's annual stockholder meeting held May 22, 2018. Additional information regarding the reverse stock split, other matters voted upon, and the certified voting results are available in the Form 8-K filed today with the U.S. Securities and Exchange Commission. About Achieve & Cytisine Cytisine is a plant-based alkaloid with a high binding affinity to the nicotinic acetylcholine receptor. Two prior, large-scale Phase 3 clinical studies of cytisine, with favorable outcomes, have been successfully completed in over 2,000 patients. The TASC trial was a 740 patient, double-blind, placebo controlled trial conceived by Professor Robert West at University College London and funded by the U.K. National Prevention Research Initiative. The CASCAID trial was a 1,310 patient, single-blind, non-inferiority trial comparing cytisine to nicotine replacement therapy (NRT). The CASCAID trial was conceived by Dr. Natalie Walker, National Institute for Health Innovation, University of Auckland and funded by the Health Research Council of New Zealand. Both trials were published in the New England Journal of Medicine. Forward Looking Statements 1 World Health Organization. WHO Report on the Global Tobacco Epidemic, 2011, Geneva: World Health Organization, 2011. Achieve Contact
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