BUZZ-Akili rises on plans to evaluate alternatives, reduce workforce

Reuters04-30

** Videogame-based therapy maker Akili's shares rise 80% to $0.42

** Company says it has started process to evaluate potential alternatives

** Says workforce will be reduced by about 46%, including elimination of its marketing and medical affairs teams

** AKLI announces amendment to its strategic distribution agreement with Japan-based Shionogi & Co

** Under amended agreement, Shionogi has canceled long-term debt obligation of $5 mln

** Akili to receive upfront payment of $10.5 mln in consideration for elimination of future royalty payments

** Including session moves, stock down 22.4%

(Reporting by Sneha S K in Bengaluru)

((Sneha.SK@thomsonreuters.com))

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