Akebia Therapeutics plans $60 million public offering of common stock

Deal via UBS and Morgan Stanley includes $9 million greenshoe

By Marisa Wong

Madison, Wis., April 14 – Akebia Therapeutics, Inc. plans to price a $60 million public offering of common stock, according to a 424B5 filing with the Securities and Exchange Commission.

The deal will include a $9 million 30-day over-allotment option.

UBS Investment Bank and Morgan Stanley are the joint bookrunners, with JMP Securities as lead manager and Needham & Co. and Brean Capital as co-managers.

Proceeds will be used for clinical development and trials, specifically to advance the company’s oncology products AKB-6548 and AKB-6899, working capital and other general corporate purposes.

The company’s stock (Nasdaq: AKBA) closed at $10.30 on April 13.

The biopharmaceutical company is based in Cambridge, Mass.

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