Akebia Therapeutics Prices Offering

Akebia Therapeutics has priced an underwritten public offering of 4 million shares of common stock at $14.50 per share. Underwriters have a 30-day option to purchase an additional 600,000 shares.

Proceeds of approximately $58 million,will be used for the development of vadadustat, for additional manufacturing capabilities, for the clinical development of AKB-5169, and for discovery, research and preclinical studies of other product candidates, the company said. The remainder of proceeds may be used for working capital, business development and other general corporate purposes.

Leave A Reply

Your email address will not be published.