Lilly buying otology company Akouos to add another gene therapy pipeline

Nearly two years after Lilly suggested more M&A would follow its first buyout of a gene therapy company, the pharma is acquiring otology company Akouos in a structured deal ahead of its first clinical trial.

Shareholders of Akouos Inc. (NASDAQ:AKUS) will receive $12.50 per share, or about $487 million, up front. The price is a 78% premium over Akouos’ close at $7.01 on Monday; it last traded above the acquisition price in September 2021, and bottomed at $2.32 in May...