Company Overview of Akebia Therapeutics, Inc.
Akebia Therapeutics, Inc., a biopharmaceutical company, focuses on the development and commercialization of proprietary therapeutics based on hypoxia inducible factor (HIF) biology for patients with kidney disease. Its lead product candidate is AKB-6548, an oral therapy which has completed a Phase 2b study for the treatment of anemia related to chronic kidney disease in non-dialysis patients, as well as tested in a Phase 2 study for the treatment of anemia in patients undergoing dialysis. The company was founded in 2007 and is headquartered in Cambridge, Massachusetts.
245 First Street
Cambridge, MA 02142
Founded in 2007
Key Executives for Akebia Therapeutics, Inc.
Chief Executive Officer, President and Director
Total Annual Compensation: $552.3K
Chief Financial Officer, Senior Vice President and Treasurer
Total Annual Compensation: $415.9K
Chief Medical Officer and Senior Vice President
Total Annual Compensation: $181.5K
Compensation as of Fiscal Year 2014.
Akebia Therapeutics, Inc. Key Developments
Akebia Therapeutics, Inc. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
Aug 11 15
Akebia Therapeutics, Inc. reported unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported operating loss of $10.889 million compared to $7.840 million a year ago. Net loss applicable to common stockholders was of $10.689 million or $0.40 per basic and diluted share compared to $7.618 million or $0.39 per basic and diluted share a year ago. Cash used in operations during the second quarter of 2015 was $12.1 million, an increase of $5.4 million from $6.7 million for the same period of 2014.
For the six months, the company reported operating loss of $21.785 million compared to $17.749 million a year ago. Net loss applicable to common stockholders was of $21.384 million or $0.92 per basic and diluted share compared to $104.215 million or $9.48 per basic and diluted share a year ago.
Akebia Therapeutics, Inc. Announces Resignation of Jack Nielsen as Class II Director and Member of Compensation Committee and Chairman of the Nominating and Corporate Governance Committee
Jun 15 15
On June 11, 2015, Jack Nielsen, a Class II Director, notified the Board of Directors of Akebia Therapeutics, Inc. of his intention to resign and submitted his resignation from the Board effective immediately. Prior to his resignation, Mr. Nielsen was a member of the Board's Compensation Committee and the Chairman of the Nominating and Corporate Governance Committee.
Akebia Therapeutics, Inc. Announces Presentation of Phase 2B Data for AKB-6548 in Non-Dialysis Patients with Anemia Related to Chronic Kidney Disease
May 29 15
Akebia Therapeutics, Inc. announced that data for AKB-6548, a once-daily, oral therapy for the treatment of anemia related to chronic kidney disease (CKD), were presented on May 29, 2015 at the 2015 European Renal Association-European Dialysis and Transplant Association (ERA-EDTA) 52nd Congress, which is being held from May 28 – 31, 2015 in London. The placebo-controlled, 20-week Phase 2b study enrolled 210 patients with CKD stages 3, 4 and 5 who were randomized 2:1 to receive once-daily AKB-6548 (N=138) or placebo (N=72). Patients were assigned to one of three study groups based on recombinant erythropoiesis stimulating agent (rESA) treatment exposure: rESA treatment naïve, rESA previously treated, or rESA actively treated. The initial 450mg daily dose of AKB-6548 was adjusted in accordance with the patient's hemoglobin response using a dose titration algorithm designed to minimize HGB excursions of greater than 13.0 g/dL. In this Phase 2b trial, treatment with AKB-6548 controlled hemoglobin (HGB) levels in a sustained manner and in the clinically relevant range, producing a coordinated physiologic response to resolve anemia while avoiding excessive fluctuations in HGB levels which have been associated with increased cardiovascular risks. AKB-6548 was generally well tolerated in the Phase 2b trial and overall adverse events were balanced between the treatment and placebo groups (74.6% vs. 73.6%). New data presented on May 29, 2015, showed that the group of patients converted from active rESA therapy to AKB-6548 maintained their mean baseline HGB level of 10.5 g/dL throughout the study. In contrast, patients who were switched from active rESA therapy to placebo experienced a decline in the mean HGB level from 10.4 g/dL to 9.8 g/dL within the first two weeks of randomization. These results support a starting dose of 450 mg once daily for patients converting from rESAs to AKB-6548.
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