RTTNews | Aug 31, 2020 10:07AM EDT

10:07 Monday, August 31, 2020 (RTTNews.com) - Shares of Akcea Therapeutics, Inc. (AKCA) surged 60% on Monday after Ionis Pharmaceuticals agreed to buy remaining stake in Akcea for $500 million..

AKCA is currently trading at $18.25, up $6.87 or 60.37%, on the Nasdaq.

Ionis will buy the remaining stake in Akcea, about 24%, for $18.15 per share in cash. The deal has received approval from both the Ionis and Akcea Boards of Directors. The deal is expected to close in the fourth quarter.

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