Akebia Therapeutics Inc . has given investors plenty of cause for concern, reflected by a share price that has dropped from $20 to $3 since Sept. '18.
Sole commercial product Auryxia revenues were $80m in 2019 so far but sales affected by CMS withdrawing reimbursement for treatment of iron deficiency anemia ( IDA ).
There are high hopes for commercial approval of Vadadustat; Akebia has milestone and revenue sharing agreements with a global network of commercial and development partners.
Signs are encouraging; phase 3 clinical trial results due in early 2020.
$100m non-dilutive loan secured should ensure the company can fund operations until 2021.
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