Bullish & Foolish
Full ACHV fundamentals All 466 on the Survival Watch

ACHVAchieve Life Sciences, Inc.

Is Achieve Life Sciences struggling financially?

Yes, by its own account. Achieve Life Sciences told the SEC on 24 Mar 2026, in Form 10-K, that there is substantial doubt about its ability to continue as a going concern.

Going concern disclosed Mar 2026

30/100

Fragile

Cries for help

Nothing in the filings we have read reads as a plea for help.

Signs of a way out

  • Trial result

    We believe cytisinicline is differentiated from existing smoking cessation treatments given its combination of efficacy, well-tolerated safety profile and dosing flexibility with a 6 or 12-week regimen, as demonstrated in clinical trials.

    Form 10-Q, filed 12 May 2026. Read it on SEC.gov

Sector
Biotech/Pharma
Market cap
$822.2M
Source filing
10-K 24 Mar 2026
Balance sheet
30 Jun 2026

Cash runway

  • 9months

    If the burn speeds up

    Empty by Mar 2027

  • 14months

    If it eases off

    Empty by Aug 2027

Both rows are the same reported burn flexed 15% either way, and neither assumes the company raises a cent.

Out of cashTwo years or more

The runway math

Cash and short-term investments

$48.0M

÷

Cash burned over the last 12 months

$49.5M

What Achieve Life Sciences told the SEC

…in the section titled “Risk Factors” prior to making an investment in our common stock. These risks include, but are not limited to, the following: Substantial doubt exists as to our ability to continue as a going concern. Our ability to continue as a going concern is subject to material uncertainty and dependent on our success at raising additional capital sufficient to meet our obligations on a timely…

Achieve Life Sciences, Inc., Form 10-K, filed 24 Mar 2026.

Read the filing on SEC.gov

What this means

  • Not a bankruptcy filing, and not a prediction.
  • It is the company’s own statement, agreed with its auditor, that the doubt is material enough to disclose.
  • The runway is arithmetic on two reported numbers, not a forecast. Companies carry this language for years, raise money and keep going.

What else the numbers show

  • 112.1% share-count increase The company issued stock. Each share now owns 52.8% less of the business than a year ago, before any change in the price.

Other Biotech/Pharma companies that filed the doubt