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 will participate in the following virtual investor conferences in September.
Akebia (AKBA) posts top-line data from two phase III studies, namely PRO2TECT, which are evaluating vadadustat for treating anemia due to chronic kidney disease in adults not on dialysis. Shares down.
Shares of Akebia Therapeutics (NASDAQ: AKBA) are plunging today, down 72.3% as of 11:15 a.m. EDT, after the company announced results from a late-stage study of vadadustat in treating anemia due to chronic kidney disease (CKD) in adult patients not on dialysis. While the experimental drug met the primary and secondary efficacy endpoints of the study, it didn't meet the primary safety endpoint. A drug isn't likely to be approved by the FDA if there are concerns that it isn't safe.