- Net proceeds of offering total $106.9 million -
CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Akebia Therapeutics, Inc. (NASDAQ:AKBA), a biopharmaceutical company
focused on the development of novel, proprietary therapeutics based on
hypoxia-inducible factor biology and the commercialization of these
products for patients with kidney disease, today announced the closing
of its initial public offering of 6,762,000 shares of common stock at an
initial public offering price of $17.00 per share. This includes the
exercise in full by the underwriters of their option to purchase 879,647
shares of common stock. The aggregate net proceeds to Akebia, after
underwriting discounts and commissions and estimated offering expenses,
are approximately $106.9 million. All of the shares of common stock were
offered by Akebia.
Morgan Stanley, Credit Suisse and UBS Investment Bank acted as joint
book-running managers and Nomura acted as a co-manager for the offering.
A registration statement relating to these securities was declared
effective by the Securities and Exchange Commission on March 19, 2014.
The offering was made only by means of a prospectus, copies of which may
be obtained from the offices of Morgan Stanley & Co. LLC, Attention:
Prospectus Department, 180 Varick Street, 2nd Floor, New
York, New York 10014; Credit Suisse Securities (USA) LLC, Attention:
Prospectus Department, One Madison Avenue, New York, NY 10010, by email
at newyork.prospectus@credit-suisse.com
or by toll-free call to (800) 221-1037; or UBS Securities LLC,
Attention: Prospectus Department, 299 Park Avenue, New York, NY 10171,
(888) 827-7275.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of, these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state or jurisdiction.
About Akebia Therapeutics
Akebia Therapeutics, Inc. is a biopharmaceutical company focused on the
development of novel, proprietary therapeutics based on
hypoxia-inducible factor biology and the commercialization of these
products for patients with kidney disease. Akebia's lead product
candidate, AKB-6548, is in a Phase 2b clinical trial in patients with
anemia secondary to chronic kidney disease who are not dependent on
dialysis. AKB-6548 is being developed as a once-daily oral therapy which
works through the inhibition of hypoxia-inducible factor prolyl
hydroxylase, leading to stabilization and increased levels of HIFα and
therefore improved production of hemoglobin and red blood cells.
Investors:
Akebia Therapeutics, Inc.
Jason Amello,
Senior Vice President, Chief Financial Officer
+1 617-871-2087
jamello@akebia.com
or
Westwicke
Partners
John Woolford
+1 443-213-0506
john.woolford@westwicke.com
or
Media:
Akebia
Therapeutics, Inc.
Michel Dahan, Vice President, Commercial
+1
617-871-2092
mdahan@akebia.com
Source: Akebia Therapeutics, Inc.
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