Morgan Stanley Initiates Coverage on a Stock we bought 2 months ago
In mid June we initiated a play on Achieve Life Sciences (ACHV).
Our thesis was simple: ACHV is developing a smoking cessation regimen, and if approved, it will be the first newly approved pharmacological treatment for smoking cessation.
The issue was that ACHV was facing regulatory delays from the FDA. The delay related specifically to the manufacturing. The science was good but the FDA wasn’t satisfied with the manufacturing. Because of this, the market devalued the stock.
We saw the opportunity and we took it.
ACHV has since then contracted a different manufacturer and are in process of filling with the FDA again.
Company Developing Smoking Cessation therapy, Millions of People in need.
The market is undervaluing this play because of regulatory delays. But the competitive moat is strong nonetheless.
Morgan Stanley has initiated coverage on ACHV
Today, August 13th, Morgan Stanley initiated coverage on ACHV with the following:
