SA News • Mon, Dec. 15
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Significant Sell-Off Could Occur For Akebia Therapeutics At Lockup Expiration
- ~13.5 million shares of Akebia Therapeutics are scheduled to become available for public sale on September 15, the end of the 180-day lockup period that began with the March IPO.
- Akebia has fared inconsistently on the market since its debut in March; we are also concerned about its long-term prospects, given that it is far from commercializing any products.
- Recent research shows price declines of between (-2%) and (-5.5%) in the time period surrounding a company's lockup expiration -- particularly if it has strong VC backing, as Akebia does.
- The upcoming lockup period expiration could see significant sell-offs, however, given the substantial venture backing that Akebia has relied on.
- Biopharma focused on proprietary therapeutics based on hypoxia inducible factor biology and commercialization of these products for patients with kidney disease.
- Lead product candidate, AKB-6548, being developed as a once-daily oral therapy that has successfully completed a Phase 2a proof of concept study.
- Predictably raised hemoglobin levels in patients with anemia secondary to chronic kidney disease, or CKD, not requiring dialysis.
- AKBA, a biopharmaceutical firm, focused on the development of novel treatments for anemia, plans to raise $76.0 million in its upcoming IPO.
- AKBA will offer 4.9 million shares at an expected price range of $14-$17 per share.
- We plan to avoid this IPO, given AKBA being years away from potential product approval and stiff competition, including from JNJ and AZN.
There are no Transcripts on AKBA.
Mon, Dec. 15, 12:36 PM
- Added to the Nasdaq Biotechnology Index, effective Dec. 22: AAVL, AERI, AKBA, ALDR, ALIM, AMPH, ANIP, ASPX, CARA, CGEN, CLDN, CNCE, ENTA, FLML, FMI, FOLD, FPRX, GWPH, HPTX, ICPT, INO, INSM, KITE, KPTI, MGNX, OPHT, PCYC, PETX, POZN, PTX, QLTI, RARE, RCPT, RDUS, RLYP, RTRX, RVNC, SAGE, TBPH, TTPH, VSAR, XLRN, ZFGN, ZSPH.
- Deleted: AMRN, AUXL, CRIS, EXPR, ICEL, ONTX, RIGL, ZGNX.
- Source: Press Release
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- In a randomized, double-blind, placebo-controlled 209-patient Phase 2 clinical trial, Akebia Therapeutics' (NASDAQ:AKBA) renal anemia drug candidate, AKB-6548, hits its primary endpoint of achieving or maintaining a mean hemoglobin (HGB) value >=11.0 g/dL or increasing HGB by >=1.2 g/dL above the pre-treatment value as measured by the mean HGB value at weeks 19 and 20.
- The study was also designed to evaluate the ability of the dose titration algorithm to minimize HGB excursions >=13.0 g/dL. Only six patients in the treatment group (4.4%) experienced an excursion above this threshold.
- Akebia CEO John P. Butler says, "We are extremely pleased with the results of our Phase 2b study. This marks a very important milestone for Akebia and sets a clear path forward for a global Phase 3 program in renal anemia."
Thu, Sep. 25, 10:59 AM
- The first patient has been dosed in a Phase 2 clinical trial of Akebia Therapeutics' (AKBA -0.5%) AKB-6548 for the treatment of patients with anemia related to chronic kidney disease (CKD) who are undergoing dialysis.
- The Phase 2 multi-center open-label study will enroll ~60 patients and will evaluate patients' responses to treatment over a 16-week period.
- The company is also evaluating AKB-6548, its lead product candidate, in a Phase 2b trial for the treatment of anemia related to CKD in non-dialysis patients. It expects results in Q4 2014.
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Wed, Aug. 6, 7:37 AM| Comment!
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- IPO Akebia Therapeutics (AKBA) closed at $26.70 , up 57% from its $17 offer price. Volume was 2.9M shares.
- The company develops drugs based on hypoxia inducible factor (HIF).
- Its lead product, AKB-6548, raises hemoglobin in chronic kidney disease patients not requiring dialysis. It is currently in a phase 2b clinical trial.
- The firm expects to submit its NDA in 2018 contingent on a successful phase 3.
- Based on today's close the firm's market cap is > $500M.
AKBA vs. ETF Alternatives
Akebia Therapeutics Inc is a biopharmaceutical company. It is engaged in the development of proprietary therapeutics based on hypoxia inducible factor, or HIF, biology and the commercialization of these products for patients with kidney disease.
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