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Akebia Therapeutics, Inc. - AKBA STOCK NEWS

Welcome to our dedicated page for Akebia Therapeutics news (Ticker: AKBA), a resource for investors and traders seeking the latest updates and insights on Akebia Therapeutics stock.

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.

News

Akebia Therapeutics to Report Fourth Quarter and Full Year 2023 Financial Results

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Akebia Therapeutics®, Inc. (Nasdaq: AKBA) plans to report Q4 and full year 2023 financial results on March 14, 2024. The company will not host a conference call due to the proximity to the PDUFA target action date for vadadustat, a potential treatment for anemia in patients on dialysis.
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Akebia Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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Akebia Therapeutics, Inc. granted a newly-hired employee options to purchase 4,000 shares of common stock at $1.58 per share. The options vest over four years, with 25% vesting on the first anniversary and the remaining 75% quarterly. This move aligns with Nasdaq Listing Rule 5635(c)(4).
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Akebia Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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Akebia Therapeutics granted five newly-hired employees options to purchase an aggregate of 856,950 shares of Akebia's common stock, including options for the Chief Commercial Officer and Chief Accounting Officer. The options were granted as an inducement material to each employee entering into employment with Akebia, in accordance with Nasdaq Listing Rule 5635(c)(4). The exercise price is $1.68 per share, with the stock options vesting over four years. Each stock option has a 10-year term and is subject to the terms and conditions of Akebia's inducement award program and a stock option agreement covering the grant.
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Akebia Secures $55 Million Term Loan Financing

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Akebia Therapeutics, Inc. has closed a loan facility with BlackRock, providing up to $55.0 million of borrowing capacity. The loan will be used to pay down principal outstanding from a previous loan agreement and extends the interest-only period in the event of vadadustat approval by the FDA. The company also has the option to draw down an additional $18.0 million contingent on FDA approval. Akebia's CEO, John P. Butler, expressed satisfaction with the new loan facility and the ongoing support from Pharmakon Advisors, LP.
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Akebia Therapeutics Announces Appointment of Nicholas Grund as Chief Commercial Officer

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Akebia Therapeutics, Inc. (Nasdaq: AKBA) announced the appointment of Nicholas Grund as Chief Commercial Officer. Mr. Grund brings significant operational, commercial, and strategic leadership experience in the renal and specialty markets. His appointment is crucial as Akebia prepares for the potential vadadustat launch in the U.S. and aims to maximize Auryxia revenue. Prior to joining Akebia, Mr. Grund served as President of Eurofins Transplant Genomics and Chief Commercial Officer of AMAG Pharmaceuticals, with a proven track record of driving revenue growth and operational efficiency improvements.
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Akebia Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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Akebia Therapeutics, Inc. (Nasdaq: AKBA) granted six newly-hired employees options to purchase an aggregate of 49,000 shares of Akebia's common stock on December 29, 2023, in accordance with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $1.24 per share, vest over four years, and have a 10-year term.
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Akebia Therapeutics to Present at the 42nd Annual J.P. Morgan Healthcare Conference

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Akebia Therapeutics, Inc. (Nasdaq: AKBA) CEO to present at 42nd Annual J.P. Morgan Healthcare Conference
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Akebia Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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Akebia Therapeutics, Inc. (Nasdaq: AKBA) granted two new employees options to purchase 31,000 shares of Akebia's common stock on November 30, 2023. The options have an exercise price of $1.06 per share, vest over four years, and have a 10-year term. This grant is in accordance with Nasdaq Listing Rule 5635(c)(4).
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Akebia Therapeutics to Present at Piper Sandler Healthcare Conference

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Akebia Therapeutics, Inc. (Nasdaq: AKBA) announced that CEO John Butler will participate in a fireside chat at the Piper Sandler 35th Annual Healthcare Conference on November 28th. The webcast will be available on Akebia's website for 90 days.
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Akebia Therapeutics Reports Third Quarter 2023 Financial Results and Recent Business Highlights

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Akebia Therapeutics (AKBA) reported financial results for Q3 2023, with net product revenue of $40.1 million for Auryxia. The company's vadadustat NDA was accepted by the FDA with a PDUFA date set for March 27, 2024. Vadadustat is now approved in 36 countries, including Australia and Taiwan. Akebia also modified its loan agreement with Pharmakon, extending the maturity and deferring principal payments.
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FAQ

What is the current stock price of Akebia Therapeutics (AKBA)?

The current stock price of Akebia Therapeutics (AKBA) is $1.88 as of November 22, 2024.

What is the market cap of Akebia Therapeutics (AKBA)?

The market cap of Akebia Therapeutics (AKBA) is approximately 404.7M.

What does Akebia Therapeutics, Inc. specialize in?

Akebia Therapeutics specializes in delivering innovative therapies for patients with kidney disease, leveraging hypoxia-inducible factor (HIF) biology.

What is vadadustat?

Vadadustat is Akebia’s lead product candidate, an investigational oral therapy aimed at treating anemia related to chronic kidney disease in non-dialysis and dialysis patients.

Is vadadustat approved by the FDA?

Vadadustat is currently under review by the U.S. FDA with a Prescription Drug User Fee Act (PDUFA) date set for March 27, 2024.

What are Akebia’s approved products?

Akebia’s approved products include Auryxia (ferric citrate), which is used for controlling serum phosphorus levels in dialysis-dependent CKD patients and treating iron deficiency anemia in non-dialysis-dependent CKD patients.

What recent financial moves has Akebia made?

Akebia secured a loan facility from BlackRock, providing up to $55 million in borrowing capacity, aimed at supporting the potential U.S. launch of vadadustat.

What is Auryxia?

Auryxia (ferric citrate) is a medication approved in the U.S. for the control of serum phosphorus levels in dialysis-dependent CKD patients and the treatment of iron deficiency anemia in non-dialysis-dependent CKD patients.

Where is Akebia Therapeutics located?

Akebia Therapeutics is headquartered in Cambridge, Massachusetts.

When was Akebia founded?

Akebia Therapeutics was founded in 2007.

What are Akebia’s new pipeline programs?

Akebia is exploring new pipeline programs in acute care settings, including acute kidney injury, acute respiratory distress syndrome, and retinopathy of prematurity in neonates.

How has Auryxia performed financially?

Auryxia reported robust performance with 2023 net product revenues totaling $170.3 million.

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Akebia Therapeutics, Inc.

Nasdaq:AKBA

AKBA Rankings

#3307 Ranked by Market Cap
N/A Ranked by Dividends

AKBA Stock Data

404.73M
207.87M
2.09%
27.29%
7.05%
Drug Manufacturers - Specialty & Generic
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