Aegis Capital has reiterated a ‘Buy’ rating and issued a price target of $25 on shares of Akebia Therapeutics, Inc. (NASDAQ: AKBA) stock. The news follows the company’s recent report of two patent wins in the EU. The Opposition Division (OD) of the European Patent Office has revoked another FibroGen, Inc. hypoxia-inducible factor (HIF) related patent in Europe. Additionally, Akebia’s challenge to a second HIF-related patent resulted in FibroGen considerably narrowing the claims to only cover an indication for vadadustat that Akebia does not intend to develop. The analyst noted its belief that the company now holds a strong IP position to protect vadadustat.
For more information, visit www.akebia.com
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.
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