AKER - Akers BioSciences rallies 37% on tie-up with MyMD Pharma

Nano cap Akers Biosciences ([[AKER]] +36.6%) jumps on a healthy 40x surge in volume in reaction to its announced merger with MyMD Pharmaceuticals.The combined company will do business as MyMD Pharmaceuticals and will trade under the ticker (MYMD).Under the terms of the deal, expected to close in H1 2021, Akers stockholders will own ~20% of the new organization while MyMD investors will own ~80% and will. be eligible for additional contingent payments in cash and stock under certain conditions. Akers also agreed to loan MyMD up to $3M at 5% annual interest secured by a first lien on MyMD assets.Following the transaction close, the company will focus on advancing its immunotherapy pipeline including lead candidate MYMD-1, an orally available synthetic plant alkyloid for the potential treatment of autoimmune disorders like multiple sclerosis, age-related diseases and extending the human lifespan. Mid-stage studies should launch in 2021.Candidate #2 is SUPERA-1R, a cannabidiol

For further details see:

Akers BioSciences rallies 37% on tie-up with MyMD Pharma