Achieve Life Sciences Announces Award of New Hire

SEATTLE and VANCOUVER, British Columbia, July 01. 11, 2022 (GLOBE NEWSWIRE) — Achieve Life Sciences, Inc. (Nasdaq: ACHV), a late-stage pharmaceutical company engaged in the global development and commercialization of cytisinicline for smoking cessation and nicotine dependence, announced today The Company today issued incentive stock option grants to two new employees.

Achieve’s Board of Directors approved the new employment incentive grants to purchase a total of 15,000 shares of Achieve common stock with awards granted on June 29, 2022. Achieve granted the stock options to shares as a material incentive to new employees for entering into employment contracts with Achieve pursuant to Nasdaq listing rule 5635(c)(4).

The stock options approved under the incentive grant were issued pursuant to a stock option agreement on terms substantially similar to those of the 2018 stock incentive plan of Achieve and have an exercise per share equal to the closing price of Achieve common stock on June 29, 2022. Stock options vest over four years, 25% of which on the first anniversary of the date of commencement of the employee and 1/36E remaining shares will vest monthly thereafter, subject to the employee’s continued employment on each such date. The stock options have a term of 10 years and are subject to the terms of the stock option agreements.

About Achieve and Cytisinicline
Achieve’s goal is to combat the global epidemic of tobacco use and nicotine addiction through the development and commercialization of cytisinicline. Smoking is currently the leading cause of preventable death, responsible for more than eight million deaths worldwide and nearly half a million deaths in the United States each year.1.2 More than 87% of lung cancer deaths, 61% of all lung disease deaths, and 32% of all coronary heart disease deaths are attributable to smoking and exposure to second-hand smoke.2

Additionally, nearly 11 million adults in the United States use e-cigarettes, also known as vaping.3 Although nicotine e-cigarettes are considered less harmful than combustible cigarettes, they are still addictive and can release harmful chemicals that can cause lung damage or cardiovascular disease.4 In 2021, e-cigarettes were the most commonly used tobacco product reported by 1.72 million high school students.5 Research shows that teens who have used e-cigarettes are seven times more likely to become smokers a year later than those who have never vaped.6 Currently, there are no FDA-approved treatments indicated specifically as an aid in quitting nicotine e-cigarettes.

Cytisinicline is a plant-derived alkaloid with high binding affinity to the nicotinic acetylcholine receptor. It is believed to help treat nicotine dependence for smoking and e-cigarette cessation by interacting with nicotine receptors in the brain, reducing the severity of withdrawal symptoms and reducing reward and satisfaction associated with nicotine products. Cytisinicline is an investigational product candidate under development for the treatment of nicotine addiction and has not been approved by the Food and Drug Administration for any indication in the United States. For more information on cytisinicline and Achieve, visit www.achievelifesciences.com.

Forward-looking statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the timing and nature of development cytisinicline clinical, data results and marketing. activities, the potential size of the cytisinicline market, the potential benefits, safety and tolerability of cytisinicline, the ability to discover and develop new uses for cytisinicline, including, but not limited to, in as an e-cigarette cessation product, the development and effectiveness of new treatments, and the intention to submit cytisinicline to the FDA for approval. All statements other than statements of historical fact are statements that could be considered forward-looking statements. Achieve may not achieve its product development plans or objectives in a timely manner, if at all, or otherwise achieve its intentions or meet its expectations or projections disclosed in such forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including, among other things, the risk that cytisinicline may not demonstrate hypothetical or expected benefits; the risk that Achieve may not be able to obtain additional financing to fund the development of cytisinicline; the risk that cytisinicline will not receive regulatory approval or be successfully marketed; the risk that new developments in the smoking cessation landscape may require changes in business strategy or clinical development plans; the risk that Achieve’s intellectual property may not be adequately protected; general commercial and economic conditions; risks related to the impact on our activities of Russian military action in Ukraine; risks relating to the impact on our business of the COVID-19 pandemic or similar public health crises and other factors described in the risk factors set forth in Achieve’s filings with the Securities and Exchange Commission from time other, including Achieve’s annual reports on Form 10-K and quarterly reports on Form 10-Q. Achieve undertakes no obligation to update any forward-looking statements contained herein or to reflect events or circumstances occurring after the date hereof, except as may be required by applicable.

Investor Relations
rich rooster
[email protected]
(404) 736-3838

Media Contact
Glenn Silver
[email protected]
(646) 871-8485

References
1 World Health Organization. WHO report on the global tobacco epidemic, 2019. Geneva: World Health Organization, 2017.
2 US Department of Health and Human Services. The health consequences of smoking – 50 years of progress. A report of the Surgeon General, 2014.
3Cornelius ME, Wang TW, Jamal A, Loretan CG, Neff LJ. Use of tobacco products among adults — United States, 2019. MMWR Morb Mortal Wkly Rep 2020;69:1736–1742. DOI: 10.15585/mmwr.mm6946a4
4Ogunwale, Mumiye A et al. (2017) Aldehyde detection in e-cigarette aerosols. ACS omega 2(3): 1207-1214. DOI: 10.1021/acsomega.6b00489].
5Gentzke AS, Wang TW, Cornelius M, et al. Tobacco product use and associated factors among middle and high school students – National Youth Smoking Survey, United States, 2021. MMWR Surveill Summ 2022;71(#SS-5):1-29. DOI: 10.15585/mmwr.ss7105a1.
6Elizabeth C. Hair, Alexis A. Barton, Siobhan N. Perks, Jennifer Kreslake, Haijun Xiao, Lindsay Pitzer, Adam M. Leventhal, Donna M. Vallone, Association between e-cigarette use and future cigarette use combustibles: evidence from a prospective cohort study of youth and young adults, 2017-2019, Addictive Behaviors, Volume 112, 2021, 106593, ISSN 0306-4603. DOI: 10.1016/j.addbeh.2020.106593.

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