Achieve Life Sciences, Inc. (NASDAQ:ACHV) Q3 2024 Earnings Conference Call November 7, 2024 4:30 PM ET

Company Participants

Nicole Jones - IR
Richard Stewart - Chief Executive Officer
Cindy Jacobs - President and Chief Medical Officer
Jerry Wan - Principal Accounting Officer
Jaime Xinos - Chief Commercial Officer

Conference Call Participants

Thomas Flaten - Lake Street Capital
Justin Walsh - JonesTrading
John Vandermosten - Zacks Small-Cap Research
Gary Nachman - Raymond James
Boris Tolkachev - Freedom Broker

Operator

Greetings, and welcome to the Achieve Life Sciences Third Quarter 2024 Earnings Conference Call and Webcast. [Operator Instructions] And as a reminder, this conference is being recorded.

I would now like to turn the call over to Nicole Jones, Achieve Investor Relations. Thank you, Nicole. You may begin.

Nicole Jones

Thank you, operator. Good afternoon, everyone, and thank you for joining us today. From Achieve Life Sciences, we are joined by Rick Stewart, Chief Executive Officer; Dr. Cindy Jacobs, President and Chief Medical Officer; Jerry Wan, Principal Accounting Officer; and Jaime Xinos, Chief Commercial Officer. Management will be available for a Q&A session following today's prepared remarks.

Before we begin, I'd like to remind everyone that today's conference call contains forward-looking statements based on current expectations. These statements are only predictions, and actual results may vary materially from those projected. Please refer to Achieve documents available on our website and filed with the SEC concerning factors that could affect the company.

I'll now turn the call over to Rick.

Richard Stewart

Thanks, Nicole.

The third quarter was yet again eventful and productive for Achieve with the change of management, new hires in key roles, the FDA granting breakthrough therapy designation for e-cigarette or vaping cessation and refinancing our SVB loan.

Much of this activity reflects the rapidly maturing Achieve and reflects the increasing value to patients, physicians and shareholders as the company transitions from a pure-play clinical development company towards a more commercially focused company.

As a result, the Board decided that as Achieve swiftly approaches NDA submission, acceptance and approval, the company needed to strengthen executive management with greater commercial and M&A expertise to enhance the future value of the company.

The value proposition continues to increase. A target population of more than 40 million Americans with nicotine dependence is awe-inspiring to big pharma, let alone a micro biotech. To continue value enhancement, we have carefully and thoughtfully assessed the future strategy of Achieve and cannot rely solely on a third-party exit or strategic partnering to commercialize cytisinicline. In fact, to do so would hold Achieve to ransom for unpalatable terms.