Achieve Life Sciences entered into a securities purchase agreement for a private placement totaling up to $354 million. The financing consists of $180 million in upfront gross proceeds and up to $173.8 million in potential additional proceeds from the exercise of milestone-driven warrants. The company is issuing 49,418,069 shares of common stock and pre-funded warrants at a price of $3.635 per share/warrant combination. Accompanying warrants are exercisable at $3.51 per share and expire 20 business days after FDA approval of cytisinicline for smoking cessation. Proceeds are earmarked for a Phase 3 clinical trial for e-cigarette cessation, commercialization efforts, and general working capital. The company announced the appointment of Dr. Andrew Goldberg as CEO, effective April 18, 2026, succeeding Richard Stewart.