August 21, 2014 10:00 PM ET

Biotechnology

Company Overview of Akebia Therapeutics, Inc.

Company Overview

Akebia Therapeutics, Inc., a biopharmaceutical company, focuses on the development and commercialization of proprietary therapeutics based on hypoxia inducible factor (HIF) biology for patients with kidney disease. Its lead product candidate is AKB-6548, a HIF-PH inhibitor, which is in Phase IIb clinical trials for patients with anemia secondary to chronic kidney disease who are not dependent on dialysis. The company is also developing a development program for patients dependent on dialysis. Akebia Therapeutics, Inc. was founded in 2007 and is headquartered in Cambridge, Massachusetts.

245 First Street

Suite 1100

Cambridge, MA 02142

United States

Founded in 2007

24 Employees

Phone:

617-871-2098

Key Executives for Akebia Therapeutics, Inc.

Chief Executive Officer
Age: 50
Total Annual Compensation: $162.0K
Co-Founder and Executive Vice President
Age: 59
Total Annual Compensation: $354.0K
Compensation as of Fiscal Year 2013.

Akebia Therapeutics, Inc. Key Developments

Akebia Therapeutics, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Akebia Therapeutics, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. The company reported a net loss and a net loss applicable to common stockholders of $7.6 million, or $0.39 per share, for the second quarter of 2014. Net loss applicable to common stockholders for the second quarter of 2013, which includes accretion on preferred stock of $49.3 million, was $52.1 million or $103.19 per share. The company's cash used in operations during the second quarter of 2014 was $6.7 million, an increase of $4.7 million from $2.0 million for the same period of 2013. Operating loss was $7,840,000 against $3,121,000 a year ago. For the six months period, the company reported operating loss of $17,749,000 against $5,698,000 a year ago. Net loss applicable to common stockholders was $104,215,000 or $9.48 per basic and diluted share against $53,564,000 or $109.21 per basic and diluted share a year ago.

Robert Shalwitz, M.D. to Resign as Chief Medical Officer of Akebia Therapeutics, Inc., Effective from December 31, 2014

Akebia Therapeutics, Inc. and Robert Shalwitz, M.D., Chief Medical Officer of the company, agreed upon terms relating to Dr. Shalwitz's resignation from the company, which will be effective as of December 31, 2014. Under the terms of Dr. Shalwitz's separation agreement, from August 5, 2014 to December 31, 2014 he will be employed by the company as Executive Vice President and will no longer serve in the position of Chief Medical Officer. Beginning January 1, 2015, he will receive severance in the amount of one year's salary, or $410,000, payable bi-weekly and will be eligible to receive a taxable reimbursement for up to twelve months of COBRA continuation coverage. The company has also entered into a two-year consulting agreement with Dr. Shalwitz, commencing on January 1, 2015 and ending on December 31, 2016, under which he will provide consulting services to the company in exchange for continued vesting of his outstanding restricted stock and stock options during the term of the consulting agreement and, under certain circumstances set forth in the consulting agreement, an extended exercise period for any vested stock options at the end of the consulting period.

Akebia Therapeutics, Inc. Announces Management Appointments

Akebia Therapeutics, Inc. announced the expansion of its senior management team with three key additions: Brad Maroni, M.D., as Senior Vice President and Chief Medical Officer, Mark De Rosch, Ph.D., as Vice President of Regulatory Affairs and Tamara Dillon as Vice President of Human Resources. Brad Maroni, M.D., most recently served as Vice President, Medical Research at Biogen Idec. Most recently, Dr. De Rosch served as Vice President, Regulatory Drugs/Biologics & Head, U.S. Operations for Voisin Consulting Life Sciences. Tamara Dillon joins the company from Novartis Institutes for BioMedical Research, where she served as Head of Human Resources, Global Discovery Chemistry, responsible for all aspects of human resources across five sites and four countries.

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