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May 24, 2015 2:19 AM ET

Pharmaceuticals

Company Overview of Akesis Pharmaceuticals, Inc.

Company Overview

On December 26, 2013, Akesis Pharmaceuticals, Inc. went out of business as per its Chapter 7 liquidation filing under bankruptcy. Akesis Pharmaceuticals, Inc., a biopharmaceutical company, engages in the discovery, development, and commercialization of pharmaceuticals for the treatment of Type 2 diabetes. Its products include AKP-020, a vanadium-based monotherapy that is in Phase IIa clinical trial for the treatment for Type 2 diabetes. Akesis Pharmaceuticals has a license agreement with the University of British Columbia (UBC) to use, commercialize, and sublicense technology owned by UBC relating to the treatment of diabetes and other related disorders. The company was founded in 1990 and i...

888 Prospect Street

Suite 320

La Jolla, CA 92037

United States

Founded in 1990

2 Employees

Phone:

858-454-4311

Fax:

858-348-2183

Key Executives for Akesis Pharmaceuticals, Inc.

Akesis Pharmaceuticals, Inc. does not have any Key Executives recorded.

Akesis Pharmaceuticals, Inc. Key Developments

SEC Revokes Registration Of Registered Securities Of Akesis Pharmaceuticals, Inc

An Administrative Law Judge has issued an Initial Decision of Default as to Akesis Pharmaceuticals, Inc. The Initial Decision found that the company was issuer of securities registered pursuant to Section 12(g) of the Securities Exchange Act of 1934 (Exchange Act), and the company failed to comply with Section 13(a) of the Exchange Act and Exchange Act Rules 13a-1 and/or 13a-13 by not filing required periodic reports with the Securities and Exchange Commission (SEC). The Initial Decision finds these allegations to be true and revokes the registration of each class of the company’s registered securities, pursuant to Section 12(j) of the Securities Exchange Act of 1934.

SEC Orders Hearings On Registration Suspension Or Revocation Against Akesis Pharmaceuticals For Failure To Make Required Periodic Filings

Securities and Exchange Commission (SEC or the commission) instituted public administrative proceeding to determine whether to revoke or suspend for a period not exceeding twelve months the registration of each class of the securities of Akesis Pharmaceuticals, Inc. for failure to make required periodic filings with the Commission. In this Order, the Division of Enforcement (Division) alleges that the company was delinquent in its required periodic filings with the Commission. In this proceeding, instituted pursuant to Exchange Act Section 12(j), a hearing will be scheduled before an Administrative Law Judge. At the hearing, the judge will hear evidence from the Division and the company to determine whether the allegations of the Division contained in the Order, which the Division alleges constitute failures to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 there under, are true. The judge in the proceeding will then determine whether the registrations pursuant to Exchange Act Section 12 of each class of the securities of the company should be revoked or suspended for a period not exceeding twelve months. The Commission ordered that the Administrative Law Judge in this proceeding issue an initial decision not later than 120 days from the date of service of the order instituting proceeding.

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