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Anemia biotech Akebia Therapeutics sets terms for $76 million IPO

Posted
3/7/2014 8:00:00 AM
By: Renaissance Capital
Referenced Stocks:AKBA

Akebia Therapeutics, a biotech developing an anemia treatment with a once-daily oral dose, announced terms for its IPO on Friday. The Cambridge, MA-based company plans to raise $76 million by offering 4.9 million shares at a price range of $14 to $17. At the midpoint of the proposed range, Akebia Therapeutics would command a fully diluted market value of $302 million.

Akebia Therapeutics, which was founded in 2007, plans to list on the NASDAQ under the symbol AKBA. Akebia Therapeutics initially filed confidentially on December 20, 2013. Morgan Stanley, Credit Suisse and UBS Investment Bank are the joint bookrunners on the deal.