Morgan Stanley is acting as sole book-running manager for the offering. The offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Akebia intends to use the net proceeds from the offering for the continued clinical development of vadadustat, for additional manufacturing capabilities, for the clinical development of AKB-5169, for discovery, research and preclinical studies of its other product candidates, and the remainder for working capital, business development and other general corporate purposes.
The shares of common stock described above are being offered by Akebia
pursuant to its shelf registration statement on Form S-3 previously
filed and declared effective by the
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the offering, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
This press release includes forward-looking statements. Such
forward-looking statements include those about Akebia's planned use of
proceeds. The words "anticipate," "appear," "believe," "estimate,"
"expect," "intend," "may," "plan," "predict," "project," "target,"
"potential," "will," "would," "could," "should," "continue," and similar
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these identifying
words. Each forward-looking statement is subject to risks and
uncertainties that could cause actual results to differ materially from
those expressed or implied in such statement, including those identified
under the heading "Risk Factors" in Akebia's Quarterly Report on Form
10-Q for the quarter ended
SVP, Corporate Communications and Investor Relations
News Provided by Acquire Media