Locust Walk Acquisition Corp.

eFFECTOR Therapeutics, Inc. is a clinical-stage biopharmaceutical company, which focuses on the development of a new class oncology drugs known as selective translation regulator inhibitors (STRIs). Its STRI product candidates target the eIF4F complex and its activating kinase, mitogen-activated protein kinase 1/2 (MNK 1/2). The company was founded by Kevan Shokat, Davide Ruggero, and Siegfried Reich on May 1, 2012 and is headquartered in Solana Beach, CA.

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Locust Walk Acquisition (LWAC) stock is rocketing higher on Wednesday following news that it can move forward with the eFFECTOR Therapeutics. The post LWAC Stock: eFFECTOR Therapeutics SPAC Merger News Sends Shares Skyrocketing appeared first on InvestorPlace.

LWAC Stock: eFFECTOR Therapeutics SPAC Merger News Sends Shares Skyrocketing

The stock price of Locust Walk Acquisition Corp (NASDAQ: LWAC) increased by over 230% during intraday trading. This is why it happened.

LWAC Stock: Over 230% Increase Explanation

Shares of Locust Walk Acquisition Corp (NASDAQ: LWAC) are surging higher Wednesday morning after the merger with eFFECTOR Therapeutics was approved. eFFECTOR Therapeutics is focused on selective translation regulation inhibitors to treat cancer.

Why Is This SPAC Surging 160% Today?

SAN DIEGO, May 27, 2021 (GLOBE NEWSWIRE) -- eFFECTOR Therapeutics, Inc. (eFFECTOR), a biopharmaceutical company focused on pioneering the development of selective translation regulation inhibitors (STRIs) for the treatment of cancer, and Locust Walk Acquisition Corp. (NASDAQ: LWAC), a blank-check company formed for the purpose of acquiring or merging with one or more businesses, today announced they have entered into a definitive merger agreement. Upon closing of the transaction, anticipated to occur in the third quarter of 2021, the combined company will be named eFFECTOR Therapeutics, Inc. and will be led by Steve Worland, Ph.D., president and CEO. The combined company's common stock is expected to be listed on the Nasdaq Capital Market under the ticker symbol “EFTR”.

eFFECTOR Therapeutics and Locust Walk Acquisition Corp. Announce Merger Agreement to Create Publicly Listed, Next-Generation Oncology Company Developing New Class of Cancer Therapies

A biotechnology company using selective tranlsation regulation inhibitors to treat cancer is going public in a SPAC deal.  The SPAC Deal: eFFECTOR Therapeutics will merge with Locust Walk Acquisition Corp (NASDAQ: LWAC) in a deal bringing a next generation oncology company public.

EXCLUSIVE: eFFECTOR Therapeutics Announces SPAC Deal To Advance Cancer-Fighting Pipeline

News for Locust Walk Acquisition Corp. Stock (LWAC)