ACHV stock touches 52-week low at $2.81 amid market challenges

OncoGenex Pharmaceuticals Inc. (NASDAQ:ACHV) stock has reached a 52-week low, dipping to $2.81, as the company faces a tumultuous market environment. According to InvestingPro data, the company’s volatility is reflected in its beta of 1.68, indicating higher market sensitivity than average. This latest price level reflects a significant downturn over the past year, with the stock experiencing a 1-year change of -35.97%. With a market capitalization of $98.85 million, investors are closely monitoring ACHV as it navigates through the pressures of the biopharmaceutical industry. InvestingPro analysis reveals concerning trends, with 4 analysts recently revising earnings downward and the company quickly burning through cash, though it maintains a strong current ratio of 6.78. The 52-week low serves as a critical point of interest for both current shareholders and potential investors, as they consider the company’s performance and future prospects amidst a challenging economic landscape. Discover 10+ additional exclusive insights and detailed analysis in the comprehensive Pro Research Report, available on InvestingPro.

In other recent news, Achieve Life Sciences reported fourth quarter earnings that did not meet analyst expectations, with a quarterly loss of $0.36 per share, which was $0.02 below the consensus estimate. The company disclosed total operating expenses of $12.2 million and a net loss of $12.4 million for the quarter. Achieve Life Sciences ended the year with $34.4 million in cash, cash equivalents, and marketable securities. Despite the earnings miss, the company plans to submit a new drug application for cytisinicline to the U.S. Food and Drug Administration by the end of the second quarter of 2025. Achieve Life Sciences has completed enrollment in its ORCA-OL long-term exposure trial, reaching the required 300 participants for the NDA submission. The company also reported positive outcomes from two data safety monitoring committee reviews of the ORCA-OL trial, with no safety concerns identified. Additionally, Achieve Life Sciences appointed two new board members and a new Chief Financial Officer to support its strategic initiatives.

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