Achieve Life Sciences, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Common Stock (Tables)

Common Stock (Tables)

3 Months Ended

Mar. 31, 2020

Stock option transactions and the number of stock options outstanding are summarized below:

	Number of			Weighted
	Optioned			Average
	Common			Exercise
	Shares			Price
Balance, December 31, 2019		1,010,583		$	10.05
Granted		1,497,600			0.56
Forfeited		(18,757	)		4.33
Balance, March 31, 2020		2,489,426		$	4.38

Summary of Fair Value of Each Stock Award for Employees and Directors

The fair value of each stock award for employees and directors is estimated on the grant date and for consultants at each reporting period, using the Black-Scholes option-pricing model based on the weighted-average assumptions noted in the following table:

	Three Months Ended
	March 31,
	2020			2019
Risk-free interest rates		1.51	%		2.56	%
Expected dividend yield		0	%		0	%
Expected life		6.02			6.02
Expected volatility		104.06	%		93.72	%

Summary of Share-Based Compensation Expense

The results for the periods set forth below included share-based compensation expense for stock options and restricted stock units in the following expense categories of the consolidated statements of loss (in thousands):

	Three Months Ended
	March 31,
	2020		2019
Research and development	$	86	$	90
General and administrative	$	216		200
Total stock-based compensation	$	302	$	290

Summary of Restricted Stock Unit Award Activity

The following table summarizes our restricted stock unit award activity during the three months ended March 31, 2020:

				Weighted
	Number			Average
	of			Grant Date
	Shares			Fair Value
Balance, December 31, 2019		10,008		$	28.99
Forfeited or expired		(660	)		28.90
Balance, March 31, 2020		9,348		$	29.00

Summary of Outstanding Warrants

The following is a summary of outstanding warrants to purchase common stock at March 31, 2020:

	Total
	Outstanding		Exercise
	and		price per
	Exercisable		Share		Expiration Date
(1) Series A-1 Warrants issued in April 2015 financing		2,175		264.0000	October 2020
(2) Warrants issued in September 2017 financing		8,224		34.9600	March 2023
(3) Warrants issued in June 2018 financing		2,282,000		4.0000	June 2023
(4) Warrants issued in October 2018 financing		624,313		3.1445	October 2023
(5) Warrants issued in May 2019 financing		1,200,000		4.5000	May 2025
(6) Warrants issued in December 2019 financing		23,000,000		0.6000	Dec 2024