Why Akebia Therapeutics Stock Is Crashing Today
Shares of Akebia Therapeutics (NASDAQ: AKBA) are plunging today, down 72.3% as of 11:15 a.m. EDT, after the company announced results from a late-stage study of vadadustat in treating anemia due to chronic kidney disease (CKD) in adult patients not on dialysis. While the experimental drug met the primary and secondary efficacy endpoints of the study, it didn't meet the primary safety endpoint.
It's not surprising that investors bailed on the biotech stock after the late-stage results were announced. A drug isn't likely to be approved by the FDA if there are concerns that it isn't safe.
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Source Fool.com
