Akebia Therapeutics rises after U.S. FDA approves anemia drug

Akebia Therapeutics

28/03/2024 09:19

** Drugmaker Akebia Therapeutics' shares  AKBA.O  rise 24.6%
to $2.79 premarket
    ** Co announced late Wednesday that the U.S. FDA has
approved its drug, vadadustat, to treat anemia caused by chronic
kidney disease (CKD) in dialysis patients
    ** The drug will be available under the brand name Vafseo,
co said 
    ** H.C. Wainwright analyst Ed Arce estimates the drug's
launch in second half of this year, with peak sales of $954 mln
in 2031
   ** Anemia, or the low count of red blood cells, is a common
complication of CKD, a condition in which a person's kidneys
cannot filter blood efficiently
    ** Up to last close, stock has risen 80.6% YTD 

 (Reporting by Sneha S K in Bengaluru)
 ((Sneha.SK@thomsonreuters.com;))