InvestmentApr 16, 2026, 08:55 AM
Achieve Life Sciences Secures Up to $354M in Private Placement
AI Summary
Achieve Life Sciences announced a private placement for gross proceeds up to approximately $354 million, including an initial $180 million upfront and up to an additional $174 million from milestone-driven warrants. The financing was led by Frazier Life Sciences, TPG Life Sciences Innovations, and other prominent healthcare investors. Concurrently, Andrew D. Goldberg, MD, was appointed as the new Chief Executive Officer and a member of the board of directors, effective upon the closing of the private placement.
Key Highlights
- Secured up to $354 million in private placement financing.
- Initial upfront funding of approximately $180 million.
- Up to $174 million from warrants exercisable post-FDA approval.
- Issued 49,418,069 shares at $3.635/share or pre-funded warrants.
- Andrew D. Goldberg, MD, appointed CEO and board member.