Akebia Therapeutics, Inc.


Company Name:
Akebia Therapeutics, Inc. 
Sector:
Healthcare 
Transaction Type:
Follow-on Offering 
Ticker Symbol:
AKBA 
Deal Amount:
$65.3M
Transaction Date:
1/7/2016 
Transaction Summary:
Akebia Therapeutics, Inc. raised $65.3 million in its follow-on offering at $9.00 per share. Needham acted as a co-manager on the transaction. The net proceeds from the sale of the shares from the offering will be used by Akebia Therapeutics, Inc. offering to fund continued clinical development of vadadustat in patients with anemia secondary to chronic kidney disease (CKD), including to prepare, initiate and conduct its PRO2TECT™ Phase 3 program and to prepare and initiate its planned INNO2VATE™ Phase 3 program, to advance AKB-6899 through Phase 1 development in oncology, and the remainder for working capital and other general corporate purposes.  
Company Description:
Akebia Therapeutics, Inc. (NASDAQ: AKBA) is a biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on delivering innovative therapies to patients with kidney disease through hypoxia-inducible factor (HIF) biology. Akebia has completed Phase 2 development of its lead product candidate, vadadustat (formerly AKB-6548), an oral therapy for the treatment of anemia related to CKD in both non-dialysis and dialysis patients. Enrollment in the PRO2TECT™ Phase 3 program in non-dialysis patients commenced in late 2015 and the INNO2VATE™ Phase 3 program in dialysis-dependent CKD patients is expected to commence in 2016.  
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