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Why Are Akebia Therapeutics Shares Falling Today?

Why Are Akebia Therapeutics Shares Falling Today?

为什么木通治疗公司的股票今天下跌？
Benzinga Real-time News ·  2022/05/16 14:16
  • Akebia Therapeutics Inc (NASDAQ:AKBA) and Otsuka Holdings (OTC: OTSKY) separately announced to call for licensing and co-development agreement for vadadustat.
  • Otsuka sent a written notice to Akebia on May 12 that the partnership had been terminated. 
  • Akebia said in an SEC filing filed Friday that the termination will go into effect in a year.
  • Related: FDA Places Partial Hold On Vadadustat Pediatric Studies, Akebia Cuts Over 40% Staff.
  • The deal was initially announced in 2016, offering $265 million in committed cash, including $125 million upfront, with another $35 million due in early 2017. 
  • The deal also gave Otsuka US co-commercialization rights for Akebia's drug, as it paid $105 million to help cover development costs and offered up to $765 million in milestones.
  • Otsuka said, "Otsuka and Akebia had been co-developing vadadustat for renal anemia. However, in March, Akebia received a Complete Response Letter from the FDA. As a result, Otsuka has decided to terminate its co-development of vadadustat and has notified Akebia of the termination of its global license agreements."
  • Akebia also said in an SEC filing that Otsuka terminated the deal for "alleged material breaches by the Company under the Otsuka U.S. Agreement," which could force the deal's end as early as June 12. 
  • Akebia further added that it disagrees and plans to dispute the allegations of "material breach."
  • Price Action: AKBA shares are down 16.6% at $0.37 during the market session on the last check Monday.
  • 木通治疗公司(纳斯达克：AKBA)和大冢控股(场外交易代码：OTSKY)单独宣布呼吁签署vadustat的许可和共同开发协议。
  • 大冢于5月12日向Akebia发出书面通知，称合作关系已终止。
  • 木通在周五提交给美国证券交易委员会的一份文件中表示，终止将在一年内生效。
  • 相关： FDA部分暂停Vadadustat儿科研究，Akebia裁员40%以上.
  • 这笔交易最初是在2016年宣布的，承诺提供2.65亿美元的现金，其中包括1.25亿美元的预付款，另有3500万美元将于2017年初到期。
  • 这笔交易还让大冢美国公司获得了Akebia药物的联合商业化权利，因为它支付了1.05亿美元来帮助支付开发成本，并提供了高达7.65亿美元的里程碑。
  • 大冢说：“大冢和Akebia一直在共同开发治疗肾性贫血的vadustat。然而，Akebia在3月份收到了FDA的完整回复信。因此，大冢决定终止其共同开发的vadustat，并已通知Akebia终止其全球许可协议。”
  • Akebia还在一份美国证券交易委员会文件中表示，大冢终止了这笔交易，原因是“根据大冢美国协议，公司涉嫌存在重大违规行为”，这可能会迫使交易最早在6月12日结束。
  • Akebia进一步补充说，它不同意这一说法，并计划驳斥有关“实质性违规”的指控。
  • 价格行动：周一收盘时，AKBA股价下跌16.6%，至0.37美元。
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