India, April 16 -- Achieve Life Sciences Inc. (ACHV) on Thursday said it has entered into a securities purchase agreement for a private placement that could raise up to about $354 million in gross proceeds, and appointed Andrew D. Goldberg as Chief Executive Officer, effective upon closing.
Achieve Life Sciences intends to use the proceeds to fund a Phase 3 trial for cytisinicline proposed for e-cigarette cessation, support commercialization efforts and for working capital and general corporate purposes.
The financing includes an upfront investment of approximately $180 million, with up to an additional $174 million tied to the exercise of milestone-based warrants.
The private placement is led by investors including Frazier Life Sciences...