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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 has announced significant updates for the commercial launch of Vafseo® (vadadustat) Tablets. Following a termination agreement with CSL Vifor, Akebia now holds full rights to sell Vafseo in the U.S. The Wholesale Acquisition Cost (WAC) has been set at $1,278 for a 30-day supply. Akebia has submitted a TDAPA application for Vafseo, anticipating designation by January 1, 2025. The company aims to finalize contracts with dialysis providers covering the majority of eligible patients by the end of 2024. Additionally, Akebia will host a conference call on July 11, 2024, at 8:00 a.m. ET to discuss these updates.
Akebia Therapeutics (Nasdaq: AKBA) announced inducement grants under Nasdaq Listing Rule 5635(c)(4) for five newly-hired employees. The grants include options to purchase a total of 517,000 shares of common stock, with 500,000 shares allocated to Erik Ostrowski, the new CFO and Chief Business Officer. The exercise price for these options is $1.02 per share, matching the closing price on the grant date, June 28, 2024. These options have a 10-year term and vest over four years, with 25% vesting on the first anniversary and the remainder vesting quarterly. The grants are part of Akebia’s inducement award program.
Akebia Therapeutics, a biopharmaceutical company focused on improving the lives of people with kidney disease, announced that its CEO, John Butler, will participate in the H.C. Wainwright 3rd Annual Kidney Virtual Conference.
The event is set for Monday, July 15, 2024, at 9:30 a.m. ET. During the conference, Butler will provide updates on the commercial launch activities for Vafseo (vadadustat) Tablets.
Interested parties can access a webcast of the presentation through the Investors section of Akebia's website for 30 days following the event. This conference is an important platform for Akebia to showcase its advancements and strategies in the kidney disease sector.
Akebia Therapeutics, a biopharmaceutical company focusing on kidney disease treatments, announced the appointment of Erik Ostrowski as Senior Vice President, Chief Financial Officer, and Chief Business Officer.
Mr. Ostrowski, an experienced biotech executive, joins Akebia from Avrobio, where he played a key role in its merger with Tectonic Therapeutic. Previously, he was instrumental in the IPO of Summit Therapeutics and served on the Board of Directors of Faron Pharmaceuticals.
CEO John P. Butler expressed confidence in Ostrowski's leadership, emphasizing the company's strong financial position as it launches Vafseo® (vadadustat) Tablets.
Ostrowski holds degrees from Babson College and the University of Chicago Booth School of Business. He expressed enthusiasm about joining Akebia, highlighting its established revenue-generating business and promising pipeline.
Akebia Therapeutics, a biopharmaceutical company focused on kidney disease, announced on June 3, 2024, that it granted stock options to four newly-hired employees. The options, amounting to 76,000 shares with an exercise price of $1.12 per share, were granted on May 31, 2024, under Nasdaq Listing Rule 5635(c)(4). The stock options vest over four years, with 25% vesting on the first anniversary and the remaining 75% vesting quarterly thereafter. Each option has a 10-year term and is subject to Akebia's inducement award program and stock option agreement.
Akebia Therapeutics announced that its CEO, John Butler, will present at the Jefferies Global Healthcare Conference on June 5, 2024, at 9:00 a.m. ET. The conference will be held in New York from June 4-6, 2024. The presentation will be accessible through a webcast on Akebia's investor website for 30 days post-event.
Akebia Therapeutics (Nasdaq: AKBA), a biopharmaceutical company focusing on kidney disease, announced its participation in the 2nd Annual HCW Bioconnect Investor Conference in New York on May 20, 2024. CEO John Butler will engage in a fireside chat at 3:00 p.m. ET. The presentation will be available via webcast on Akebia's investor relations website for 30 days post-conference.
Akebia Therapeutics reported financial results for the first quarter of 2024, highlighting the FDA approval of Vafseo tablets for anemia due to chronic kidney disease. The company expects significant growth in Auryxia net product revenues in 2024 and has ample cash to support operations for the next two years.
Akebia Therapeutics, Inc. (Nasdaq: AKBA) will release its first-quarter financial results on May 9, 2024, and host a conference call to discuss the results and recent business highlights. The call is scheduled for 8:00 a.m. ET. Investors can access the call via phone or webcast.
Akebia Therapeutics, Inc. granted 10 newly-hired employees options to purchase 41,000 shares of common stock as inducements under Nasdaq Listing Rule 5635(c)(4). The exercise price is $1.26 per share, with options vesting over four years. Each option has a 10-year term and is subject to company conditions.
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