** 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))
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