Spotlight Growth
No Result
View All Result
Wednesday, March 22, 2023
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener
No Result
View All Result
No Result
View All Result
Home Bio/Med/Pharma

Akouos (NASDAQ: AKUS) Enters Into Agreement to be Acquired by Eli Lilly (NYSE: LLY) at Valuation Up to $610 Million

by admin
October 18, 2022
in Bio/Med/Pharma
0
Akouos NASDAQ AKUS Acquisition Agreement Eli Lilly NYSE LLY Spotlight Growth

Akouos NASDAQ AKUS Acquisition Agreement Eli Lilly NYSE LLY Spotlight Growth

Akouos, Inc. (NASDAQ: AKUS) is engaged as a precision genetic medicine company, which is focused on the research and development of gene therapies to treat hearing loss. Shares of the gene therapy company are skyrocketing 87% through early trading on Tuesday, October 18, 2022. Over the past three months, Akouos has seen average daily volume of 133,870 shares. However, volume of 13.04 million shares or dollar volume of around $169.39 million, has already exchanged hands through early trading.

Shares of Akouos are soaring after the company announced that it has entered into a definitive agreement to be acquired by Eli Lilly and Company (NYSE: LLY). Under the terms of the agreement, Akouos shareholders will receive $12.50 per share in cash and one contingent value right (CVR) of up to $3.00 per share. This gives the transaction a total value of $487 million, with a potential to reach a valuation of $610 million with the contingent value right included.

CVR holders will be eligible to receive contingent payments upon completion of the following milestones: (a) $1.00 in cash, upon the fifth participate being administered AK-OTOF during a Phase 1 or Phase 1/2 trial on or before December 31, 2024; (b) $1.00 in cash upon fifth participant being treatment with a Akouos gene therapy product for a second monogenic form of sensorineural hearing loss (excluding AK-OTOF and AK-antiVEGF) on or prior to December 31, 2026; and (c) $1.00 in cash upon first participant receiving treatment with monogenic form of sensorineural hearing loss in a Phase 3 trial or receipt of FDA approval for Skouos product in the U.S. on or before December 31, 2026. If these milestones are not reached, the value of the CVR will be reduced by 4.2 cents per month until its expiration on December 1, 2028.

Eli Lilly will acquire several drug candidate and pipeline assets addressing otology, inner ear drug delivery and hearing loss-focused gene therapeutics. The company’s flagship candidate, AK-OTOF, is a gene therapy treatment for hearing loss due to mutations in the otoferlin gene. The company also has AK-CLRN1 for User Type 3A, an autosomal recessive disorder brought on by progressive loss of hearing and vision. GJB2 candidate treats a common form of monogenic deafness and hearing loss. The AK-antiVEGF) candidate is a treatment for vestibular schwannoma.

“I am proud of the commitment and passion of our team, which has established Akouos as a pioneer in inner ear genetic medicine, as demonstrated by our work to advance the first investigational therapy for a genetic form of hearing loss into clinical development,” said Emmanuel Simons, Ph.D., M.B.A., co-founder, president, and chief executive officer of Akouos. “Joining Lilly – a company that shares our purpose to make life better for people around the world – will help us accelerate the development of a broad pipeline of inner ear genetic medicines.”

Disclosure: No position. Spotlight Growth has no relationships with any of the companies mentioned in this article and did not receive payment in any form for its creation. This is an opinion article and is not meant to be financial advise. We are not broker-dealers or investment professionals. Please conduct your own due diligence. For more information on our disclosures, please visit: https://spotlightgrowth.com/disclosures/

Tags: acquisitionAkouosAKUSAKUS stockbiopharmaceuticalsbiotechcommon stockday tradingdow jones todayEli Lillyemerging growthhearing losshearing loss treatmentsinvestinginvestmentLLYLLY stockmedicalMergermicrocap stocksNASDAQnewsNYSEpharmaceuticalspublic companysalessmall cap companiessmall cap stockssmall capsSpotlight GrowthSpotlight Growth Stocksstock marketstock market newsstock newsstocksstocks to watchtechTechnologytechnology stockstrade ideastradingtreatmentwebull wallstreetbets
  • Trending
  • Comments
  • Latest
Asure Software NASDAQ ASUR Human Capital Management HCM Industry Spotlight Growth

Asure Software (NASDAQ: ASUR) is Expanding to Meet the Rising Demand for Human Capital Management Software

September 27, 2022
OLB Group NASDAQ OLB Cuentas NASDAQ CUEN Partnership Fintech Spotlight Growth

OLB Group (NASDAQ: OLB) and Cuentas (NASDAQ: CUEN) Team Up to Bring Fintech Solutions to Over 32,000 Bodegas Across the United States

October 6, 2022
Siyata Mobile NASDAQ SYTA SYTAW SD7 VK7 Purchase Orders Spotlight Growth

New Purchase Orders for SD7 Rugged Device, VK7, and Other Accessories Boost Siyata Mobile’s Outlook (NASDAQ: SYTA)

December 14, 2021
Telcoin TEL Crypto Spotlight Growth

Telcoin (TEL) Quietly Leads a Crypto Remittance Revolution

June 15, 2021
Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

0
Safe-T SFET NASDAQ UN Presentation

Safe-T (NASDAQ: SFET) Has Been Selected to Present at the United Nations’ Office of Information and Communications Technology Event

0
Safe-T Group SFET Q4 FY 2020 Financial Results

Safe-T Group (NASDAQ: SFET) Reports Fourth Quarter and Full Year 2020 Financial Results

0
Safe-T Group NASDAQ SFET FY 2020 Prelim

Safe-T Group Ltd. (NASDAQ: SFET) Estimates Record-High Annual Revenues of Approximately $4.9 Million Representing ~50% Growth YoY 2020

0
89bio NASDAQ ETNB Phase 2b ENLIVEN Trial Pegozafermin NASH Spotlight Growth

89bio (NASDAQ: ETNB) Reports Phase 2b ENLIVEN Trial of Pegozafermin Achieved Primary Endpoints For Treatment of Nonalcoholic Steatohepatitis (NASH)

March 22, 2023
U.S. Xpress NYSE USX Knight-Swift Transportation NYSE KNX Acquisition Spotlight Growth

U.S. Xpress Enterprises (NYSE: USX) Enters Into Acquisition Agreement With Knight-Swift Transportation (NYSE: KNX) Valued at $808 Million

March 21, 2023
Axon Enterprise Logo

Axon Enterprise (NASDAQ: AXON) Maintains its Market Dominance with Strong Growth

March 20, 2023
PureCycle Technologies NASDAQ PCT PureFive Distribution Agreement Formerra Spotlight Growth

PureCycle Technologies (NASDAQ: PCT) Enters Into Strategic Distribution Partnership With Formerra For its PureFive UPR Polypropylene Resin Product

March 16, 2023

Recent News

89bio NASDAQ ETNB Phase 2b ENLIVEN Trial Pegozafermin NASH Spotlight Growth

89bio (NASDAQ: ETNB) Reports Phase 2b ENLIVEN Trial of Pegozafermin Achieved Primary Endpoints For Treatment of Nonalcoholic Steatohepatitis (NASH)

March 22, 2023
U.S. Xpress NYSE USX Knight-Swift Transportation NYSE KNX Acquisition Spotlight Growth

U.S. Xpress Enterprises (NYSE: USX) Enters Into Acquisition Agreement With Knight-Swift Transportation (NYSE: KNX) Valued at $808 Million

March 21, 2023

Categories

  • Bio/Med/Pharma
  • Cannabis
  • Commodities
  • Consumer Goods
  • Crowdfunding
  • Crypto Cheat Sheets
  • Cryptocurrency
  • Earnings
  • Education
  • Entertainment
  • Financials
  • Market News
  • Opinion
  • Politics
  • Real Estate
  • Split Watch
  • Sponsored
  • Store
  • Technology
  • Uncategorized
  • Venture Capital/Private Equity (VC/PE)

Site Navigation

  • Disclosures
  • Terms Of Service
  • Privacy Policy
  • Contact Us

Copyright © 2017-2022 Spotlight Growth. All Right Reserved. Designed by Cool Cat Interactive.

No Result
View All Result
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener

Copyright © 2017-2022 Spotlight Growth. All Right Reserved. Designed by Cool Cat Interactive.

Newsletter Signup

Subscribe to our weekly newsletter below and never miss the latest small/micro-cap analysis and investment news from Spotlight Growth.

Enter your email address

Thanks, I’m not interested