Achieve Life Sciences Announces $150M ATM Offering with Jefferies

What Happened

• On August 14, 2026, Achieve Life Sciences, Inc. (NASDAQ: ACHV) entered into an Open Market Sale Agreement with Jefferies LLC to operate an at‑the‑market (ATM) offering program under which the company may offer and sell up to $150.0 million of common stock. Shares will be issued under the company’s Form S-3 registration statement (filed Jan 23, 2026) and a prospectus supplement filed Aug 14, 2026. The 8‑K was signed by CFO Mark Oki.

Key Details

• Agreement date: August 14, 2026; Sales agent: Jefferies LLC.
• Maximum aggregate offering amount: $150.0 million of common stock.
• Jefferies’ compensation: up to 3.0% of gross proceeds; company will also reimburse certain expenses and provided customary indemnification.
• Use of proceeds stated: commercialization of cytisinicline, fund a Phase 3 trial for cytisinicline for e‑cigarette cessation, and for working capital and general corporate purposes.
• Company has no obligation to sell shares and may suspend or terminate the ATM program; the program ends when the maximum is sold or the agreement is terminated.

Why It Matters

• This ATM gives Achieve a flexible capital‑raising tool that can be used as needed to fund commercialization and a planned Phase 3 trial for its lead product, cytisinicline. For investors, the program can dilute existing shares if used, and sales may put downward pressure on the stock depending on timing and volume. The fee structure (up to 3% plus reimbursed expenses) is a tangible cost of raising capital through this route.
• Note: Item 2.02 in the filing indicates certain results of operations/financial condition information was furnished (not filed) but the 8‑K does not include detailed financial results.