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Akebia Therapeutics, Inc. (NASDAQ: AKBA) is a fully integrated biopharmaceutical company headquartered in Cambridge, Massachusetts. Focused on delivering innovative therapies for patients with kidney disease, Akebia leverages hypoxia-inducible factor (HIF) biology in its product development. The company's lead product candidate, vadadustat, is an investigational oral therapy aimed at treating anemia related to chronic kidney disease (CKD) in both non-dialysis and dialysis patients. Akebia's global phase 3 program for vadadustat includes the PRO2TECT studies for non-dialysis patients and the INNO2VATE studies for dialysis-dependent patients. Vadadustat has received approval for the treatment of anemia due to CKD in multiple countries including Japan, Europe, and Australia, and is awaiting U.S. FDA approval with a PDUFA date set for March 27, 2024.
In addition to vadadustat, Akebia's portfolio includes Auryxia (ferric citrate), a medicine approved in the U.S. for the control of serum phosphorus levels in adult patients with dialysis-dependent CKD and the treatment of iron deficiency anemia in adult patients with non-dialysis-dependent CKD. Auryxia continues to show robust performance, with 2023 net product revenues totaling $170.3 million.
Akebia recently strengthened its financial position by securing a loan facility from BlackRock, providing up to $55 million in borrowing capacity. This move is geared towards supporting the potential U.S. launch of vadadustat, which Akebia anticipates will transform the company and provide a new oral treatment option for anemia in dialysis patients.
Current projects include exploring new pipeline programs targeted at acute care settings, such as acute kidney injury and acute respiratory distress syndrome, as well as retinopathy of prematurity in neonates.
With significant partnerships, a strong pipeline, and strategic financial maneuvers, Akebia Therapeutics continues to be a key player in the biopharmaceutical space, dedicated to bettering the lives of individuals affected by kidney disease.
Akebia Therapeutics (Nasdaq: AKBA) announced plans to release its financial results for Q4 and full-year 2021 on March 1, 2022. The company will not host a conference call prior to the March 29, 2022 PDUFA date for vadadustat, an investigational drug under FDA review for treating anemia due to chronic kidney disease. Vadadustat is already approved in Japan for similar indications. The company aims to improve the lives of those affected by kidney disease.
On February 1, 2022, Akebia Therapeutics (Nasdaq: AKBA) announced the granting of stock options to 17 new employees, totaling 129,000 shares. The exercise price of these options is $1.99 per share, which corresponds with the closing stock price on the grant date, January 31, 2022. Options will vest over four years, beginning with 25% after one year. This move aims to incentivize the new hires as part of Akebia's ongoing strategy to enhance its workforce and improve outcomes in kidney disease treatment.
Akebia Therapeutics (Nasdaq: AKBA), a biopharmaceutical company focused on improving the lives of those affected by kidney disease, will have its Chief Financial Officer, David Spellman, participate in a virtual fireside chat at the H.C. Wainwright Bioconnect Conference from January 10-13, 2022. An audio replay of the conversation will be available on the Investors section of Akebia's website for 90 days post-conference. Founded in 2007 and headquartered in Cambridge, MA, Akebia is dedicated to developing therapeutics for kidney patients.
On January 4, 2022, Akebia Therapeutics (Nasdaq: AKBA) announced the granting of stock options to eight newly-hired employees, totaling 49,000 shares. The options have an exercise price of $2.26 per share, in line with the stock's closing price on the grant date, December 31, 2021. The vesting period spans four years, with 25% vesting after the first anniversary and the remainder quarterly, contingent upon continued employment. This grant complies with Nasdaq Listing Rule 5635(c)(4), aimed at incentivizing new talent in the biopharmaceutical sector focused on kidney disease.
Akebia Therapeutics (Nasdaq: AKBA), a biopharmaceutical company focused on kidney disease, announced that CEO John P. Butler will present at the 40th Annual J.P. Morgan Healthcare Conference on January 11, 2022, at 4:30 p.m. ET. The presentation will be virtual, and an audio replay will be available on Akebia's investor website for 30 days post-event. Founded in 2007 and headquartered in Cambridge, Massachusetts, Akebia aims to enhance the lives of those impacted by kidney disease.
Akebia Therapeutics (AKBA) announced the grant of stock options to 21 newly hired employees on November 30, 2021, totaling 85,000 shares. The exercise price is set at $2.71, equivalent to the closing stock price on the grant date. Each option vests over four years, with 25% vesting on the first anniversary and the remainder quarterly, contingent on continued employment. The grants comply with Nasdaq Listing Rule 5635(c)(4).
Akebia Therapeutics, Inc. (Nasdaq: AKBA), dedicated to improving the lives of those with kidney disease, will have its CEO John P. Butler and CFO David A. Spellman participate in several investor conferences. Key events include the Piper Sandler 33rd Annual Virtual Healthcare Conference from November 29 to December 2, where Butler will attend a virtual fireside chat, and the 4th Annual Evercore ISI HealthCONx Conference from November 30 to December 2, featuring another fireside chat by Butler on November 30 at 4:45 PM. Webcasts will be available on the company's website.
On November 15, 2021, Akebia Therapeutics (Nasdaq: AKBA) announced its participation in the Jefferies London Healthcare Conference from November 16-19, 2021. CEO John P. Butler will deliver a presentation, which will be available on-demand starting at 8:00 a.m. GMT on November 18. This presentation can be accessed through the conference site or via the Investors section of Akebia's website for 30 days post-conference. Akebia focuses on developing therapeutics for kidney disease, aiming to improve the lives of affected individuals.
Akebia Therapeutics (AKBA) reported Q3 2021 revenue of $48.8 million, down from $60 million in Q3 2020, primarily due to reduced collaboration revenue from Otsuka. Net product revenue for Auryxia increased by 7% to $36.8 million. The net loss was $59.5 million, slightly better than $60 million a year prior. The company is preparing for the potential U.S. launch of vadadustat, an investigational therapy for CKD-related anemia, with a PDUFA date set for March 29, 2022. Recent milestones include submissions for marketing authorization in Europe and successful completion of key clinical programs.
On November 1, 2021, Akebia Therapeutics (Nasdaq: AKBA) announced the grant of stock options to three new employees, totaling 11,000 shares. The options were granted on October 29, 2021, at an exercise price of $2.87 per share, equal to the closing stock price on that date. These options will vest over four years, with 25% vesting on the first anniversary and the remainder quarterly thereafter, contingent on continued employment. This grant adheres to Nasdaq Listing Rule 5635(c)(4) and is part of the company's Inducement Award Program.
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