RTTNews | Dec 22, 2020 06:25AM EST

06:25 Tuesday, December 22, 2020 (RTTNews.com) - The lockup period of Akouos Inc. (AKUS) expires tomorrow, i.e. on Dec. 23.

Boston, Massachusetts-based Akouos is a precision genetic medicine company developing adeno-associated virus, or AAV delivered gene therapies for various hearing loss conditions.

The company's lead gene therapy candidate is AK-OTOF for the treatment of hearing loss due to mutations in the OTOF gene.

An IND application seeking FDA clearance to conduct a phase I/II clinical trial of AK-OTOF is expected to be submitted next year.

The company's cash, cash equivalents and marketable securities were $320.1 million as of September 30, 2020.

Akouos made its debut on The Nasdaq Global Select Market on June 26, 2020, offering its shares at a price of $17 each and the 180 day lockup period expires tomorrow.

AKUS opened the first day of trading (i.e. June 26, 2020) at $22.26 and closed at $22.00 that day. The stock has thus far hit a low of $16.59 and a high of $30.67.

AKUS closed Monday's trading at $19.54, up 5.51%.

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