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Achieve Life Sciences closes merger with OncoGenex Pharmaceuticals

Achieve Life Sciences Inc. closed its merger with OncoGenex Pharmaceuticals Inc., making Achieve's stockholders the majority stockholders of OncoGenex.

OncoGenex has been renamed Achieve Life Sciences and the operations and employees of OncoGenex and Achieve have combined to carry on as a fully-integrated late-stage smoking cessation company.

Achieve Life Sciences will continue to be headquartered in Bothell, Wash., with its existing operations in Vancouver, British Columbia.

The new company will be focused on the clinical and commercial development of cytisine, a selective nicotine receptor partial agonist currently in late-stage development for smoking cessation.

Achieve expects to commence a phase 3 trial of cytisine in the U.S. in the first half of 2018.

Immediately before the completion of the merger, on Aug. 1, a 1-for-11 reverse stock split of the company's common stock became effective.

The company's common stock will start trading on the Nasdaq Capital Market on a post-reverse stock split basis under the name Achieve Life Sciences Inc. and the symbol ACHV on Aug. 3.