24/7 Market News Snapshot 18 Dec, 2023 – Akili Inc. (NYSE: AKLI)
DENVER, Colo., 18 Dec, 2023 (247marketnews.com) – FOR IMMEDIATE RELEASE Akili Inc., a pioneering digital…
DENVER, Colo., 18 Dec, 2023 (247marketnews.com) – FOR IMMEDIATE RELEASE
Akili Inc., a pioneering digital medicine entity famous for its significant strides in cognitive treatments, is delighted to announce two groundbreaking occurrences that have led to positive market repercussions. Firstly, there has been a phenomenal increase in stock value, with shares of Akili Inc. skyrocketing by an impressive 19.05%, closing at $0.50. This upswing was accompanied by a remarkable trading volume, witnessing a substantial 2,284,593 shares exchange hands.
Furthermore, adding to this bullish momentum, Akili has received FDA authorization to broaden the application of its flagship product, EndeavorRx®, to adolescents aged 13 to 17. The FDA’s expansion serves as a progressive solution to the ongoing ADHD medication shortage and more than doubles the patient base for this novel game-based digital therapeutic.
EndeavorRx® is distinguished as the only FDA-authorized game-based digital treatment for ADHD, and now offers adolescents a non-drug option that delivers positive results. The authorization from the FDA is supported by a clinical study comprising 162 adolescents demonstrating marked improvements in attention control post four weeks of treatment.
Dr. Scott Kollins, the Chief Medical Officer of Akili, has expressed immense gratification at this development, highlighting the broader access it provides to adolescents at a time when stimulant medication scarcity has markedly impacted this population group.
Not only does EndeavorRx® aim to mitigate ADHD symptoms, reflected in ADHD-RS score reductions, but it also showcases improvements in attention spans and everyday functionality as reported by both parents and adolescents. EndeavorRx® requires a prescription and is designed to complement a holistic ADHD management plan encompassing medication, therapy, and educational programs, offering an engaging and validated alternative amidst a shortage crisis.
In light of these events, investor enthusiasm is palpable as Akili continues to innovate and diversify the cognitive treatment landscape with its scientifically validated and pleasantly engrossing therapeutic solutions.
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Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.
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