Akebia Announces Third Quarter 2016 Financial Results
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Akebia Therapeutics, Inc. (NASDAQ:AKBA), a biopharmaceutical company focused on delivering innovative therapies to patients with kidney disease through the biology of hypoxia-inducible factor (HIF), today announced financial results for the third quarter ended September 30, 2016.
“This quarter, we continued to advance our Phase 3 program for vadadustat with the initiation of INNO2VATE for dialysis-dependent patients with anemia related to chronic kidney disease, our second potential indication. In addition, the Independent Data Monitoring Committee for the PRO2TECT program for non-dialysis patients met for the first time and recommended continuing the program without modification,” said John P. Butler, President and Chief Executive Officer of Akebia. “Clinical results of vadadustat were published for the first time, and multiple publications highlighted the clinical need for new treatment options such as vadadustat. Importantly, we added significant depth to our management team to not only drive our Phase 3 program, but also to focus on building our pipeline. Our pursuit of a geographic collaboration for vadadustat remains a core focus, with the goal of providing a strong commercial partner and the resources to finance the balance of our Phase 3 program.”
“This quarter, we continued to advance our Phase 3 program for vadadustat with the initiation of INNO2VATE for dialysis-dependent patients with anemia related to chronic kidney disease, our second potential indication. In addition, the Independent Data Monitoring Committee for the PRO2TECT program for non-dialysis patients met for the first time and recommended continuing the program without modification,” said John P. Butler, President and Chief Executive Officer of Akebia. “Clinical results of vadadustat were published for the first time, and multiple publications highlighted the clinical need for new treatment options such as vadadustat. Importantly, we added significant depth to our management team to not only drive our Phase 3 program, but also to focus on building our pipeline. Our pursuit of a geographic collaboration for vadadustat remains a core focus, with the goal of providing a strong commercial partner and the resources to finance the balance of our Phase 3 program.”