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Akebia Therapeutics, Inc. (AKBA) Announces Closing Of Initial Public Offering And Full Exercise Of Underwriters' Option To Purchase Additional Shares


3/26/2014 9:38:25 AM

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CAMBRIDGE, Mass.--(BUSINESS WIRE)--Akebia Therapeutics, Inc. (NASDAQ:AKBA), a biopharmaceutical company focused on the development of novel, proprietary therapeutics based on hypoxia-inducible factor biology and the commercialization of these products for patients with kidney disease, today announced the closing of its initial public offering of 6,762,000 shares of common stock at an initial public offering price of $17.00 per share. This includes the exercise in full by the underwriters of their option to purchase 879,647 shares of common stock. The aggregate net proceeds to Akebia, after underwriting discounts and commissions and estimated offering expenses, are approximately $106.9 million. All of the shares of common stock were offered by Akebia.

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