CAMBRIDGE, Mass.--(BUSINESS WIRE)--Akebia Therapeutics, Inc. (NASDAQ:AKBA), a biopharmaceutical company focused on delivering innovative therapies to patients with kidney disease through the biology of hypoxia-inducible factor (HIF), today announced that it intends to offer and sell shares of its common stock in an underwritten public offering. All shares being offered are to be sold by Akebia. As part of the offering, Akebia intends to grant the underwriters a 30-day option to purchase additional shares of its common stock.

Morgan Stanley is acting as sole book-running manager for the offering. The offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Akebia intends to use the net proceeds from the offering for the continued clinical development of vadadustat, for additional manufacturing capabilities, for the clinical development of AKB-5169, for discovery, research and preclinical studies of its other product candidates, and the remainder for working capital, business development and other general corporate purposes.

About Akebia Therapeutics

Akebia Therapeutics, Inc. is a biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on delivering innovative therapies to patients with kidney disease through hypoxia-inducible factor biology. Akebia's lead product candidate, vadadustat, is an oral, investigational therapy in development for the treatment of anemia related to chronic kidney disease in both non-dialysis and dialysis patients. Akebia's global Phase 3 program for vadadustat, which includes the PRO2TECT studies for non-dialysis patients with anemia secondary to chronic kidney disease and the INNO2VATE studies for dialysis-dependent patients, is currently ongoing.