Akili rises on plans to evaluate alternatives, reduce workforce

Akili

30/04/2024 15:22

** Videogame-based therapy maker Akili's  AKLI.O  shares
rise 80% to $0.42
    ** Company says it has started process to evaluate potential
alternatives 
    ** Says workforce will be reduced by about 46%, including
elimination of its marketing and medical affairs teams
    ** AKLI announces amendment to its strategic distribution
agreement with Japan-based Shionogi & Co  4507.T  
    ** Under amended agreement, Shionogi has canceled long-term
debt obligation of $5 mln
    ** Akili to receive upfront payment of $10.5 mln in
consideration for elimination of future royalty payments
    ** Including session moves, stock down 22.4%

 (Reporting by Sneha S K in Bengaluru)
 ((Sneha.SK@thomsonreuters.com))