Lake Street initiated Achieve Life Sciences (ACHV +11.0%) with a Buy rating, PT $30; past 6 months the stock has generated 117%.
Analyst Thomas Flaten said that Cytisinicline has been marketed in for 40+ years and has a well-established track record in smoking cessation, but has not been developed for commercialization in the U.S.
At the H.C. Wainwright 22nd Annual Global Investment Conference, ACHV indicated that there is a large market opportunity of ~$13B nicotine addiction market; also it has acquired the global rights to cytisinicline from Sopharma AD.
As of the Q2 earnings call transcript, the RAUORA trial results are a landmark because this is the first direct head-to-head comparison of cytisinicline efficacy and safety compared to the current market leader, Chantix.
Preparations for the start of the Phase 3 trial progress, with the aid of leading KOLs in the field; remain optimistic that the first Phase 3 trial will commence in Q4, COVID-19 permitting.
He adds that Achieve is “on the cusp” of starting a pivotal clinical program for cytisinicline in the U.S.
https://seekingalpha.com/news/3615094-achieve-life-sciences-rallies-on-buy-initiation-lake-street
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