Achieve Life Sciences rises as it names new CEO ahead of key drug launch

Achieve Life Sciences

16/04/2026 14:08

** Shares of biotech firm Achieve Life Sciences ACHV.O rise 19.4% to $4.24 premarket

** Co says it named healthcare investor and physician Andrew D. Goldberg as CEO, replacing co-founder Richard Stewart, who will stay on the board

** Says the shake-up comes as it prepares for a possible U.S. launch of cytisinicline, a pill aimed at helping people quit smoking, if approved

** Says cytisinicline would be the first new treatment for smoking addiction in about two decades; the FDA is expected to decide by June 20, 2026

** Adds the drug is also being tested to help people stop vaping, or using e‑cigarettes, for which there are no approved treatments

** Co says a recently announced financing could raise up to $354 million, including $180 million upfront, to support the launch

** As of last close, stock down ~29% YTD

 (Reporting by Sahil Pandey in Bengaluru)

 ((Sahil.Pandey@thomsonreuters.com))