Ladenburg bullish on Achieve Life Sciences following BTD for cytisinicline

Ladenburg notes Achieve has announced that cytisinicline was granted FDA Breakthrough Therapy Designation for the treatment of e-cigarette or vaping nicotine dependence. In the firm’s view, this designation is not only supportive of FDA’s confidence in cytisinicline’s efficacy but should also expedite its development. There is currently no FDA-approved treatment for nicotine vaping cessation. Ladenburg continues to believe a partially NIH funded vaping pivotal is likely and more the BTD news. The firm has a Buy rating on the shares with a price target of $30.