** Shares of Achieve Life Sciences ACHV.O down 11.7% in extended trading to $3.10 after news of potential equity raise

** Seattle-based co announces offering of shares and warrants without disclosing targeted raise

** It 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

** Citizens Capital Markets and Raymond James are jt bookrunners for offering

** Co also 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 $120 mln market cap

** ACHV shares on Thurs ended down 7.6% at $3.51, essentially flat YTD

** All 6 analysts are bullish on the shares 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))