Akebia Therapeutics dives on stock offering plans

Akebia Therapeutics

19/03/2025 20:25

** Akebia Therapeutics' AKBA.O shares down 25% in extended trading to $2.13 as co looks to raise equity

** Cambridge, Massachusetts-based biopharma focused on kidney disease commences stock offering; deal size not disclosed

** Leerink Partners and Piper Sandler are jt bookrunners

** With ~236.2 mln share outstanding, co has about $600 mln market cap, per LSEG data

** AKBA shares rose for fourth straight session gaining 68% along the way. Stock ended Weds up 11.4% at $2.84

** Last Thurs, co said it expects its anemia drug branded as Vafseo to generate $10-$11 mln of net product revs in Q1

 (Lance Tupper is a Reuters market analyst. The views expressed are his own)

 ((lance.tupper@tr.com 1-646-279-6380))