24/7 MN – (NASDAQ: AKBA) AKEBIA THERAPEUDICS INC. shares are moving higher by 46% this morning on news.

The stock has more than 15.6 million shares traded and over 24,963 trades in pre-market. Shares are trending at .51

(24/7 MARKET NEWS) Akebia Therapeutics (Nasdaq: AKBA) announced, after yesterday’s market close, that it’s regaining rights to Vadadustat in the in the United States, Europe, China, Russia, Canada, Australia, the Middle East, and certain other territories. Additionally, the biopharmaceutical company will receive a $55M settlement fee.

Akebia Therapeutics is trading at $0.48, up $0.13 (+36.79%), on 7,691,049 shares. Wednesday’s session was the first time in over two months that it traded above 50 cents, only to drift back down to close yesterday at $0.3531. If it can break through the 55 cent level on high volume, it should have low resistance to the 75 cent level and then it should begin to refill a large gap into the $1,50 range.

[mstock id=”73007″ asset=”akba”]
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Akebia Therapeutics Regaining Rights to Vadadustat in the United States, Europe, China and Access Consortium…

  • Companies finalize termination with an agreed-upon settlement fee of $55M to be paid to Akebia
  • Akebia to assume responsibility for regulatory review processes previously led by Otsuka

CAMBRIDGE, Mass., June 30, 2022 /PRNewswire/ — Akebia Therapeutics®, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, today announced that it has executed an agreement to terminate the U.S. and ex-U.S. vadadustat Collaboration and License Agreements with Otsuka Pharmaceutical Co., Ltd. (Otsuka). As part of the termination, Otsuka has agreed to pay Akebia a settlement fee of $55 million.


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