Akebia Therapeutics Announces $50 Mln Public Offering Of Common Stock

(RTTNews) - Akebia Therapeutics (AKBA), a biopharmaceutical company focused on kidney disease, Thursday has priced its underwritten public offering of 25 million common stock shares at $2.00 per share, aiming to raise $50 million before expenses.

The company has also granted underwriters a 30-day option to purchase an additional 3.75 million shares. The offering is expected to close on March 21, 2025, subject to customary conditions.

The shares are offered under a shelf registration statement filed with the SEC on September 3, 2024, and declared effective on September 12, 2024. The offering is being conducted solely through a prospectus and prospectus supplement available on the SEC's website or from the underwriting firms.

Thursday, AKBA closed at $2.04, marking a 28.17% decline, and remained unchanged in after-hours trading on the Nasdaq Capital Market.