Akebia Therapeut Stock Price, News & Analysis

Akebia Therapeutics reported Q2 2022 financial results showing a 32.4% increase in net Auryxia® product revenue to $43.7M. The company has raised its 2022 revenue guidance for Auryxia to $170 - $175M. Following the termination of their partnership with Otsuka, Akebia regained full rights to vadadustat, which is under review by the FDA and EMA. Operating expenses have decreased due to strategic cost management. Notably, net income reached $29.3M, a shift from a $83.0M loss a year prior.

Akebia Therapeutics (Nasdaq: AKBA) announced initial findings from the VSTAT trial, evaluating vadadustat for treating ARDS in COVID-19 patients with hypoxemia. The phase 2 study included 449 subjects, but failed to meet its primary endpoint, achieving only a 94% probability of benefit at Day 14. Results showed 13.3% of vadadustat participants reached severe outcome scores compared to 16.9% in the placebo group. Adverse events were similar in both groups, with a 78.6% incidence in vadadustat patients. Akebia plans to review full data and consult the FDA for future development.

On August 2, 2022, Akebia Therapeutics (Nasdaq: AKBA) announced the grant of stock options to six new employees totaling 26,000 shares. The options were granted as inducements for employment, in line with Nasdaq Listing Rule 5635(c)(4). The exercise price is set at $0.39 per share, equal to the stock's closing price on the grant date. The options will vest over four years, with an initial 25% vesting on the first anniversary and the remainder vesting quarterly, subject to continued service. Each option has a 10-year term.

Akebia Therapeutics (Nasdaq: AKBA) plans to release its financial results for Q2 2022 on August 4, 2022, after market closure. The company will conduct a conference call at 4:30 p.m. ET on the same day to discuss these results and provide a business update. Listeners can join the call by dialing (833) 630-1955 (domestic) or (412) 317-1836 (international), or access the live webcast via the Investors section of Akebia's website. The call replay will be available from August 4 through August 10, 2022.

On July 5, 2022, Akebia Therapeutics (Nasdaq: AKBA) announced the grant of stock options to two newly-hired employees, totaling 4,000 shares. These options were awarded to incentivize employment in accordance with Nasdaq Listing Rule 5635(c)(4). Each option has an exercise price of $0.35, which matches the closing stock price on the grant date. The options vest over four years, with 25% vesting on the first anniversary and the remainder vesting quarterly, contingent on continued service. Akebia focuses on therapeutics for kidney disease.

Akebia Therapeutics (Nasdaq: AKBA) announced the termination of its collaboration with Otsuka Pharmaceutical regarding vadadustat, with a settlement fee of $55 million to be received by Akebia. This decision allows Akebia to regain rights to vadadustat in multiple regions, including the U.S., Europe, China, and others. The company aims to pursue regulatory approval for vadadustat, especially after receiving a Complete Response Letter from the FDA. Akebia's CEO expressed optimism about the product's potential for treating anemia in chronic kidney disease patients.

Akebia Therapeutics, Inc. (Nasdaq: AKBA) will be presenting at the Jefferies Healthcare Conference on June 9, 2022, at 10:30 a.m. ET. CEO John Butler will represent the company, which focuses on improving the lives of those affected by kidney disease. The conference is scheduled for June 8-10, 2022, in New York. Investors can access a live webcast of the presentation on the company’s website, with a replay available for 90 days after. Akebia, established in 2007 and based in Cambridge, Massachusetts, is dedicated to developing therapeutics for kidney disease.

Akebia Therapeutics (Nasdaq: AKBA) announced the grant of stock options to three new employees totaling 14,000 shares on May 31, 2022. The options, which have an exercise price of $0.37 per share, align with Nasdaq Listing Rule 5635(c)(4). The stock options will vest over four years, with 25% vesting after the first year and the remaining 75% vesting quarterly, contingent on continued employment. Akebia, based in Cambridge, Massachusetts, focuses on biopharmaceutical solutions for kidney disease.

Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company dedicated to improving the lives of those affected by kidney disease, will have CEO John Butler participate in a fireside chat at the H.C. Wainwright Global Investment Conference, scheduled for May 23–26, 2022. An audio replay of the chat will be accessible through Akebia's investor relations webpage starting on May 24 for approximately 90 days. Founded in 2007 and based in Cambridge, Massachusetts, Akebia focuses on developing and commercializing therapeutics for kidney disease.