Akebia Therapeutics, Inc. and Keryx Biopharmaceuticals, Inc. today announced the successful completion of their previously announced merger.
“We are very pleased to announce the completion of our merger with Keryx to create a fully integrated renal company that has the potential to set new standards of care for patients with kidney disease,” said John P. Butler, President and Chief Executive Officer of Akebia. “With established renal development, manufacturing and commercial capabilities, strong cash position, a flexible balance sheet and experienced management team, our company is uniquely positioned to capitalize on the significant market opportunity by maximizing the growth of Auryxia® (ferric citrate) and build launch momentum for our Phase 3 product candidate, vadadustat, subject to approval by the U.S. Food and Drug Administration. On behalf of everyone at Akebia, we welcome Keryx and its talented team, and look forward to working together to achieve a seamless transition and to build value for all of our stakeholders.”
As previously announced, Keryx shareholders are entitled to receive 0.37433 common shares of Akebia for each common share of Keryx they own.
The combined company will be Akebia Therapeutics, Inc., which will continue to trade on The Nasdaq Global Market under the ticker symbol AKBA. Keryx is no longer listed for trading on The Nasdaq Capital Market.
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Date: December 17, 2018
Source: ADVFN