Barrons.com
Akouos Stock Soars as Eli Lilly Buys Genetic Therapies Company for $610 Million
Akouos shares soared after pharmaceutical giant Eli Lilly announced that it will buy the genetic medicine company focused on hearing improvement, for up to $610 million. The merger of the two companies is meant to help them accelerate gene therapies that will help improve hearing for patients, according to a joint news release. “We believe that with Lilly’s resources, global reach, and growing capabilities in gene therapy, we can help Akouos fulfill their mission of making healthy hearing available to all,” Andrew Adams, co-director at the Lilly Institute for Genetic Medicine, said in the news release.
Source: https://finance.yahoo.com/news/agrify-surges-1-10-reverse-095105312.html