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Achieve Life Sciences cleared to start U.S. clinical trials on smoking cessation med cytisine; shares ahead 18% premarket

Published 08/11/2017, 09:02 AM
© Reuters.  Achieve Life Sciences cleared to start U.S. clinical trials on smoking cessation med cytisine; shares ahead 18% premarket
ACHV
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  • Thinly traded nano cap Achieve Life Sciences (NASDAQ:ACHV) perks up 18% premarket on light volume in response to its announcement that the FDA has OK'd its IND seeking approval to start U.S. clinical trials assessing smoking cessation drug cytisine, an indication approved in Central and Eastern Europe for more than 15 years.
  • Cytisine is a plant-based alkaloid that the company says selectively binds to the nicotinic acetylcholine receptor. Two large-scale Phase 3 studies, TASC and CASCAID, in over 2,000 patients have been completed with positive results.
  • Now read: Chembio Diagnostics, Inc. 2017 Q1 - Results - Earnings Call Slides


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