ACHIEVE LIFE SCIENCES, INC. ACHV
We are a late-stage clinical specialty pharmaceutical company with the sole mission to address the global nicotine dependence epidemic through the development and commercialization of cytisinicline. There are an estimated 29 million adults in the United States alone who smoke combustible cigarettes and an estimated 17 million adults in the United States who utilize e-cigarettes. Tobacco use is currently the leading cause of preventable death and is responsible for more than eight million deaths worldwide and nearly half a million deaths in the United States annually. 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. Our primary focus is to address this global epidemic.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | $0 | $0 | — | — |
| R&D | — | $22.8M | $15.8M | $30.1M | $24.0M | $6.9M | $9.7M | $5.9M | $3.1M | $286.0K |
| SG&A | — | $16.3M | $11.4M | $10.7M | $9.1M | $7.9M | $6.9M | $6.9M | $3.5M | $1.4M |
| Total operating expenses | $54.9M | $39.1M | $27.2M | $40.8M | $33.1M | $14.8M | $16.5M | $12.8M | $6.6M | $1.7M |
| Interest expense | $819.0K | $2.2M | $2.9M | $1.8M | — | — | — | — | — | — |
| Pre-tax income | -$54.6M | -$39.8M | -$29.8M | -$42.4M | -$33.2M | -$14.7M | -$16.4M | -$12.7M | -$13.6M | -$1.7M |
| Income tax | — | — | — | — | — | — | — | — | — | $0 |
| Net income | -$54.6M | -$39.8M | -$29.8M | -$42.4M | -$33.2M | -$14.7M | -$16.4M | -$12.7M | -$10.6M | -$1.2M |
| EPS, basic | -1.25 | -1.24 | -1.50 | -4.00 | -4.08 | -5.42 | — | — | — | — |
| EPS, diluted | -1.25 | -1.24 | -1.50 | -4.00 | -4.08 | -5.42 | -39.76 | -72.29 | -22.07 | -581.25 |
| Shares, diluted (wtd. avg.) | $43.6M | $32.1M | $19.8M | $10.6M | $8.1M | $2.7M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $20.9M | $12.8M | $15.5M | $24.8M | $43.0M | $35.9M | $16.7M | $9.5M | $5.3M | $15.0K |
| Short-term investments | $15.5M | $21.6M | — | — | — | — | — | $5.1M | — | $10.2M |
| Receivables | — | — | — | — | — | — | $8.0K | $7.0K | $9.0K | $478.0K |
| Total current assets | $39.9M | $36.5M | $17.0M | $27.3M | $44.6M | $37.0M | $17.3M | $15.5M | $5.9M | $18.0K |
| Property, plant and equipment | $3.0K | $8.0K | $13.0K | $4.0K | $15.0K | $42.0K | $57.0K | $35.0K | $59.0K | $258.0K |
| Goodwill | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M |
| Other intangibles | $751.0K | $974.0K | $1.2M | $1.4M | $1.6M | $1.9M | $2.1M | $2.3M | $2.5M | $2.8M |
| Total assets | $41.8M | $38.6M | $19.4M | $30.0M | $47.5M | $40.3M | $21.1M | $19.1M | $9.9M | $3.8M |
| Accounts payable | — | $1.9M | $618.0K | $1.7M | $841.0K | $332.0K | $859.0K | $144.0K | $213.0K | $95.0K |
| Total current liabilities | $9.1M | $6.7M | $20.8M | $21.6M | $4.5M | $2.9M | $2.9M | $3.3M | $2.0M | $3.1M |
| Total liabilities | $20.3M | $17.7M | $20.8M | $21.7M | $19.5M | $3.0M | $3.0M | $3.3M | $2.0M | $3.2M |
| Retained earnings | -$260.2M | -$205.6M | -$165.8M | -$135.9M | -$93.6M | -$60.4M | -$45.7M | -$25.4M | -$12.7M | -$2.1M |
| Total equity | $21.5M | $20.9M | -$1.4M | $8.3M | $28.0M | $37.3M | $18.1M | $15.8M | $15.8M | $610.0K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$49.5M | -$29.8M | -$24.5M | -$37.6M | -$29.4M | -$13.5M | -$15.2M | -$10.6M | -$9.1M | -$202.0K |
| Depreciation and amortisation | — | — | — | — | $27.0K | $32.0K | $31.0K | $60.0K | $59.0K | $188.0K |
| Stock-based compensation | $8.8M | $5.3M | $3.4M | $3.3M | $2.2M | $1.3M | $1.2M | $854.0K | $348.0K | $1.6M |
| Capital expenditure | $3.0K | — | $21.0K | — | — | $17.0K | $53.0K | $46.0K | — | $46.0K |
| Investing cash flow | $6.1M | -$21.6M | -$21.0K | — | — | -$17.0K | $5.0M | -$5.1M | $12.6M | $10.6M |
| Financing cash flow | $51.5M | $48.5M | $15.3M | $19.3M | $36.6M | $32.7M | $17.3M | $19.8M | $2.0M | $150.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000949858-26-000006.
Others in SIC 2835
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| IDXX | IDEXX LABORATORIES INC /DE | $42.18B | 40.9x | 10.4% |
| LNTH | Lantheus Holdings, Inc. | $6.59B | 29.6x | 0.5% |
| CLDX | Celldex Therapeutics, Inc. | $3.12B | — | -78.0% |
| NEOG | NEOGEN CORP | $2.58B | — | -2.7% |
| NTLA | Intellia Therapeutics, Inc. | $1.79B | — | 16.9% |
| QDEL | QuidelOrtho Corp | $958.0M | — | -1.9% |
| TKNO | Alpha Teknova, Inc. | $371.5M | — | 7.4% |
| MYGN | MYRIAD GENETICS INC | $305.1M | — | -1.6% |