Broadcom named strategic vendor for Walmart virtualization solutions
Achieve Life Sciences, Inc. (NASDAQ:ACHV), a $133.5 million market cap biotech company, held its Annual Meeting of Stockholders on June 4, 2025. The company’s stock, currently trading at $3.83, has seen a challenging year with a -33.8% return over the past 12 months. According to InvestingPro analysis, the stock appears fairly valued at current levels. The meeting included several key votes, as detailed in a recent SEC filing.
Firstly, the election of seven directors was confirmed. The directors elected to serve until the next annual meeting include Stuart Duty, Bridget Martell, Thomas B. King, Thomas Sellig, Richard Stewart, Nancy R. Phelan, and Kristen Slaoui. The votes showed a strong majority in favor, with each director receiving over 12 million votes for their election, while the number of votes withheld was significantly lower. Wall Street analysts maintain a strong buy consensus on the stock, with price targets ranging from $10 to $30.
Additionally, stockholders ratified the appointment of PricewaterhouseCoopers LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. The ratification received overwhelming support, with 26,459,791 votes in favor, 53,879 against, and 5,871 abstentions.
However, the proposal to amend the company’s 2023 Non-Employee Director Equity Incentive Plan to increase the number of shares available was not approved. The vote resulted in 6,736,105 in favor, 7,982,633 against, and 378,319 abstentions, indicating significant opposition.
The information is based on a press release statement from Achieve Life Sciences. The company is incorporated in Delaware and operates in the in vitro and in vivo diagnostic substances industry. Its principal executive offices are located in Seattle, Washington. The company maintains a fair financial health score of 1.98 according to InvestingPro, with a solid current ratio of 3.51. Discover more detailed insights and 12+ additional key metrics in the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Achieve Life Sciences Inc. reported its financial results for the first quarter of 2025, detailing a net loss of $12.8 million. The company remains focused on submitting a New Drug Application (NDA) for cytisinicline, a treatment aimed at helping individuals quit smoking and vaping. Achieve Life Sciences is optimistic about its future, driven by promising trial results that show higher quit rates and reduced nicotine cravings. The company is also preparing for a potential commercial launch in 2026, with no safety concerns identified in recent trials. Achieve Life Sciences has cash, cash equivalents, and marketable securities totaling $23.2 million as of March 31, 2025. Operating expenses for the quarter amounted to $12.9 million. The company is exploring partnership opportunities for COPD research and anticipates the FDA approval process to take about 12 months following the NDA submission. Additionally, Achieve Life Sciences is building infrastructure to support the potential launch of cytisinicline, which could become the first new nicotine dependence treatment in 20 years.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.