Breakout approaching In Akebia ThermaAkebia Therapeutics, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapeutics for patients with kidney disease. The firm also involves in the development and commercialization of drugs for the treatment of renal and metabolic disorders. Its products include Auryxia and Vadadustat. The company was founded by Joseph H. Gardner, John M. Rice, Michael E. Pape, Josh P. Fairbank, and Robert A. Shalwitz on February 27, 2007 and is headquartered in Cambridge, MA.
Akebia Therapeutics Inc. has given investors plenty of cause for concern, reflected by a share price that has dropped from $20 to $3 since Sept. '18.
Sole commercial product Auryxia revenues were $80m in 2019 so far but sales affected by CMS withdrawing reimbursement for treatment of iron deficiency anemia (IDA).
There are high hopes for commercial approval of Vadadustat; Akebia has milestone and revenue sharing agreements with a global network of commercial and development partners.
Signs are encouraging; phase 3 clinical trial results due in early 2020.
$100m non-dilutive loan secured should ensure the company can fund operations until 2021.
