Stock Alert: Akari Therapeutics Up 7%

(RTTNews) - Shares of Akari Therapeutics, Plc (AKTX) gained over 7% on Wednesday morning. The company announced the appointment of Torsten Hombeck as Chief Financial Officer. The biopharmaceutical company also entered into a Securities Purchase Agreement of up to $30 million with Aspire Capital Fund LLC.

AKTX is currently trading at $2.34, up $0.16 or 7.3394%, on the Nasdaq.

Aspire Capital has committed to purchase up to $30 million of Akari's American Depositary Shares at Akari's request from time to time during a period beginning on the effective date of a registration statement related to the transaction.

Proceeds are intended to be used by Akari for general corporate purposes, including research and development, clinical trial activity and working capital.