Shares of Cambridge-based Akebia Therapeutics spiked on Tuesday after the company said it had expanded a potentially lucrative collaboration deal for its anemia drug.
Akebia (Nasdaq: AKBA) previously announced a deal with Otsuka Pharmaceutical Co. in December to jointly develop and commercialize the drug, called vadadustat. That agreement called for Akebia to receive $265 million in committed funds, plus up to $765 million in potential milestone payments.
The expanded agreement announced on Tuesday…
Shares of Cambridge-based Akebia Therapeutics spiked on Tuesday after the company said it had expanded a potentially lucrative collaboration deal for its anemia drug.
Akebia (Nasdaq: AKBA) previously announced a deal with Otsuka Pharmaceutical Co. in December to jointly develop and commercialize the drug, called vadadustat. That agreement called for Akebia to receive $265 million in committed funds, plus up to $765 million in potential milestone payments.
The expanded agreement announced on Tuesday…