Akebia Therapeutics’ chief commercial officer sells $116,804 in stock

CAMBRIDGE, MA—Nicholas Grund, Chief Commercial Officer of Akebia Therapeutics, Inc. (NASDAQ:AKBA), recently executed a notable stock transaction, according to a regulatory filing. On February 3, Grund sold 55,621 shares of the company’s common stock at a price of $2.10 per share, resulting in a total transaction value of $116,804. The transaction comes amid a remarkable 71.2% surge in AKBA’s stock price over the past six months, according to InvestingPro data.

The sale was conducted automatically by Akebia to cover tax withholding obligations related to the vesting of restricted stock units. This transaction was also part of a pre-established Rule 10b5-1 trading plan adopted by Grund in May 2024.

Additionally, Grund acquired 194,900 shares of common stock on January 31 as part of a restricted stock unit grant under Akebia’s 2023 Stock Incentive Plan. These units will vest in equal parts over three years, contingent upon Grund’s continued service with the company.

Grund’s recent activities in Akebia’s stock also included an option grant for 292,300 shares, which will vest over four years, with the first 25% vesting on the first anniversary of the grant date. These strategic moves reflect ongoing developments within Akebia’s executive compensation and stock management strategies. With the company’s next earnings report scheduled for March 12, investors can access detailed analysis and 8 additional ProTips through InvestingPro’s exclusive research reports.

In other recent news, Akebia Therapeutics has seen significant developments with its anemia treatment, Vafseo. The drug received endorsement from the UK’s National Institute for Health and Care Excellence (NICE) for use in treating symptomatic anemia caused by chronic kidney disease (CKD) in adult patients on maintenance dialysis. This recommendation was based on Vafseo’s efficacy in increasing hemoglobin levels and its potential as a lower-cost alternative.

The company has also launched Vafseo in the United States, securing commercial supply agreements that provide nearly complete access to the drug for U.S. dialysis patients. Market research conducted by Akebia suggests a strong demand for Vafseo, with 99% of surveyed U.S. nephrologists open to prescribing the medication.

In financial news, Akebia reported a decrease in total revenue to $37.4 million from $42 million in the same quarter of the previous year. The company attributes this to increased spending on Vafseo’s prelaunch activities and a decline in revenue from its existing product, AURYXIA. Despite this, Akebia maintains a stable financial position, with the management estimating that current cash reserves and projected income will fund operations for at least the next two years.

Analysts from H.C. Wainwright have reiterated a Buy rating on Akebia’s stock, reflecting confidence in Akebia’s strategy and market prospects for its CKD treatment. Looking forward, Akebia plans to initiate a Phase 3 trial in mid-2025 to explore the potential use of vadadustat for anemia in late-stage CKD patients not on dialysis.

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