Akebia Announces Positive Phase 3 Clinical Trial Results

Akebia Therapeutics, Inc. (AKBA) announced positive top-line results on May 5 for the first of its two Phase 3 cardiovascular outcomes programs. The two INNO₂VATE studies evaluated the efficacy and safety of Akebia’s drug vadadustat. The drug treats anemia due to chronic kidney disease in adult patients on kidney dialysis. The studies indicate that the treatment is safe and meets both primary and key secondary efficacy endpoints.

 

Rocket Tickers alerted subscribers about the news event at 6:59 am. The last trade took place at 7:07 pm the previous evening for $8.70. Following the announcement, the stock price moved above $11.50 at the market open. The gains continued throughout the day before closing at $11.95. That makes an event-day gain of 37%.

Visit the Knowledge Center for more information about clinical trials and how to trade them.

Check out our latest Live Webinar which provides more information about price patterns after clinical trial announcements and how to trade them.

Subscribe here if you would like to start receiving these signals in real-time and start trading!