** Shares of Achieve Life Sciences ACHV.O down 18.8% before the bell to $2.85 after overnight follow-on priced

** Seattle-based firm late Thurs announced offering of 15 mln shares and accompanying warrants to buy up to 15 mln shares at $3 for $45 mln gross proceeds

** Offering priced at 14.5% discount to stock's last sale

** Co 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

** Late Thurs, co 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 $122 mln market cap

** Citizens and Raymond James are jt bookrunners for the equity offering

** ACHV shares on Thurs fell nearly 8%, off fractionally YTD

** All 6 analysts are bullish on ACHV 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))