In the premarket trading session, Akebia Therapeutics Inc. (AKBA) stock had surged by 8.44% to the price of $3.47 at the time of writing. AKBA stock previously closed the session at $3.20 gaining 0.95%. The AKBA stock volume traded for 2.17 million shares. The average 3-month volume of trade is 5.71 million shares. In the past year, AKBA stock slumped by -60.20%. While in the past week, the shares moved up by 7.74%. Furthermore, Akebia Therapeutics Inc. is currently valued in the market at $492.83 million and has 145.16 million outstanding shares.
About Akebia Therapeutics Inc.
Akebia Therapeutics, Inc., a biopharmaceutical company which specifically focuses on the design, development and marketing of therapeutics that are based on renal treatment of kidney diseases for patients. Akebia’slead investigational candidate is an oral therapy which is being developed and is currently in the Phase III level study. This therapeutic product is known as vadadustat and the phase III study is being done for anemia’s treatment which occurs in dialysis-dependent and non-dialysis dependent adult patients because of chronic kidney disease (CKD). Another product of the company is known as Auryxia which is used to control the serum phosphorus levels in adult patients through the drug’s ferric citrate properties. These patients have CKD and are on dialysi. Furthermore, the treatment is purposed for iron deficiency anemia in patients that have CKD but are not on dialysis.
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About Vatadsudat’s clinical development
Akebia Therapeutics, Inc. has given the development and commercialization rights to Otsuka Pharmaceutical Co. Ltd. (as a collaboration partner) for the vadadustat in the United States as well as certain foreign countries and regions like the European Union, Russia, China, Australia, Canada, the Middle East, and other countries. Akebia Therapeutics, Inc. has given the development and commercialization rights to Mitsubishi Tanabe Pharma Corporation (as a collaboration partner) for the vadadustat in Japan and other Asian countries. The company has partnered with Janssen Pharmaceutica licensing and research agreement of the development and commercialization of hypoxia-inducible factor prolull hydroxylase targeted compounds worldwide,
Announcing the date for 1st Quarter 2021 results release
On 28th April 2021, Akebia decided to release the financial result of the 1st Quarter 2021 on the date of 10th May 2021 before the financial markets are opened; the conference call will be held on 9:00 am ET.
Publishing of Vadadustat’s Phase III result on NEJM
Similarly, on 28th April 2021, the therapeutics company announced that its results for the global phase 3 study of the Vadadustat clinical program is being published in New England Journal of Medicine (NEJM). Vadadustat is used for the treatment of anemia due to CKD (chronic kidney disease). The phase III program’s purpose was to study the efficacy and safety of the investigational candidate in adult patients that anemia due to CKD, both on dialysis or not on dialysis.
Vadadustatwas submitted by AkebiaTherapeutics Inc. for FDA approval under a New Drug Application (NDA) in the late march 2021. There were 7500 patients that participated in the program. The study’s Phase III program was aimed to see cardiovascular safety and hematological efficacy results of phase 3 program and now the publishing enhances the relevance of vadadustat’s clinical development.