** Shares of Achieve Life Sciences ACHV.O down 11.7% in extended trading to $3.10 after news of potential equity raise
** Seattle-based co announces offering of shares and warrants without disclosing targeted raise
** It intends to use net offering proceeds to fund continued advancement of cytisinicline, its treatment for nicotine dependence and smoking cessation, through potential U.S. FDA marketing approval, and for other purposes
** Citizens Capital Markets and Raymond James are jt bookrunners for offering
** Co also said it's partnering with advertising firm Omnicom OMC.N to support planned U.S. commercial launch of cytisinicline
** With ~34.7 mln shares outstanding, ACHV has roughly $120 mln market cap
** ACHV shares on Thurs ended down 7.6% at $3.51, essentially flat YTD
** All 6 analysts are bullish on the shares with $13 median PT, per LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.