02:21 PM EDT, 06/27/2025 (MT Newswires) -- (Updates with the latest stock movement in the headline and first paragraph.)

Achieve Life Sciences ( ACHV ) shares were down nearly 36% in recent Friday trading after the company priced a $45 million offering.

The company said late Thursday it has priced an offering of 15 million shares and warrants to purchase up to 15 million shares at $3 per share and warrant.

The nicotine dependence-focused pharmaceutical company said it also granted underwriters a 30-day option to purchase up to 2.3 million additional shares and 2.3 million additional warrants.

The offering is expected to close Monday, the company said.

Gross proceeds from the offering are estimated to be about $45 million, which the company said it intends to use to fund the advancement of its main drug candidate, as well as for general corporate purposes.

Price: 2.26, Change: -1.25, Percent Change: -35.61