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What Explains The Nearly 5% Increase In Akouos (AKUS) Stock?

LPTX Stock

LPTX Stock

Akouos Inc. (NASDAQ: AKUS) shares gained 4.7% to $16.71 at the extended trading on Wednesday. In regular session, Akouos stock gained 13.76% and closed at $15.96. The AKUS stock price range was from $14.05 to $16.50. In the last 5 days, AKUS stock has added 13.92%, whereas it added 2.37% over a month.  In response to news of the upcoming presentation, AKUS stock gained.

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The presentations:

Akouos is a precision genetic medicine company dedicated to developing gene therapies for individuals living with hearing loss and who suffer low-level impairment on a daily basis. AKUS is focusing on developing precision therapies for sensory hearing loss, leveraging its precision genetic medicine platform that incorporates a proprietary new vector library and delivery method.

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At Akouos’ press conference on Tuesday, the company announced that new non-clinical data will be presented at the 24th Annual Meeting of the American Society of Gene Therapy, which will take place virtually from May 11 to 14.

The three digital presentations will bring out the nonclinical data supporting AK-OTOF, an experimental gene therapy addressing OTOF-mediated hearing loss; and AK-anti VEGF, a gene therapy which addresses vestibular schwannoma.

The following digital presentations will be held from 8:00 am to 10:00 am each May 11, 2021:

  1. In Vitro and In Vivo Analyses of Dual Vector Otoferlin Expression to Support the Clinical Development of AK-OTOF (AAVAnc80-hOTOF Vector)
  2. Durable Recovery of Auditory Function Following Intracochlear Delivery of AK-OTOF (AAVAnc80-hOTOF Vector) in a Translationally Relevant Mouse Model of Otoferlin Gene (OTOF)-Mediated Hearing Loss

AKUS’ further plans:

A recent decision by the FDA granted Akouos (AKUS)’s AK-OTOF both Orphan Drug Designation (ODD) and Rare Pediatric Disease Designation (RPDD) labels. In the first half of 2022, AKUS anticipates submitting an investigational new drug (IND) application for AK-OTOF.

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