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CAMBRIDGE, MA—Richard C. Malabre, the Senior Vice President and Chief Accounting Officer of Akebia Therapeutics, Inc. (NASDAQ:AKBA), recently sold a portion of his holdings in the company. The transaction comes as the stock has shown remarkable strength, with InvestingPro data showing a 71.2% price return over the past six months. According to a recent SEC filing, Malabre sold 30,202 shares of Akebia Therapeutics’ common stock on February 3, 2025, at a price of $2.10 per share, totaling $63,424.
This transaction was part of a pre-established Rule 10b5-1 trading plan, designed to cover tax withholding obligations associated with the vesting of restricted stock units granted on January 31, 2024. Following this sale, Malabre retains ownership of 280,248 shares in the company.
In addition to the sale, Malabre acquired 85,000 shares of common stock on January 31, 2025, through restricted stock units under the company’s 2023 Stock Incentive Plan. These units were granted at no cost and will vest over a three-year period, contingent upon his continued service with Akebia Therapeutics.
Malabre also received stock options to purchase 128,000 shares at an exercise price of $2.24 per share, which will vest over four years. These options were granted as part of the same 2023 Stock Incentive Plan.
In other recent news, Akebia Therapeutics has been making significant strides with its anemia drug, Vafseo. H.C. Wainwright analysts have maintained a Buy rating for the company, highlighting the recent endorsement from the UK’s National Institute for Health and Care Excellence (NICE) for the use of Vafseo as a treatment for symptomatic anemia caused by chronic kidney disease (CKD). This endorsement is based on the drug’s efficacy and cost-effectiveness.
In the United States, Akebia has commenced the commercial launch of Vafseo, with the company securing two commercial supply agreements that provide nearly complete access to the drug for U.S. dialysis patients. Furthermore, Akebia is planning a Phase 3 trial in mid-2025 to explore the potential use of vadadustat for anemia in late-stage CKD patients not on dialysis.
In terms of financials, Akebia reported a decrease in total revenue to $37.4 million in Q3 2024 from $42 million in Q3 2023, and a net loss of $20 million for the quarter, attributed to increased spending on Vafseo’s prelaunch activities and a decline in revenue from its existing product, AURYXIA. However, H.C. Wainwright analysts remain optimistic about Akebia’s strategy and market prospects for its CKD treatment.
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