Achieve Life Sciences Shares Fall After FDA Inspection Finds Violations

By Christopher Kuo

Achieve Life Sciences shares fell after the Food and Drug Administration found that one of its third-party facilities requires regulatory or administrative action.

Shares of the pharmaceutical company fell 5.1% on Wednesday to $3.43. Achieve Life's shares are down 31% year to date.

After inspecting one of the company's third-party manufacturing facilities, the FDA designated the facility under its most severe classification category, Official Action Indicated, which often means a facility is not compliant with regulations.

Achieve Life said the FDA classification is related to manufacturing practices at the facility and not to its drug, cytisinicline.

Write to Christopher Kuo at [e-mail]

(END) Dow Jones Newswires

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