2. DESCRIPTION FINANCIAL SNAPSHOT (In USD ‘000s except ratios)
PIPELINE
COMPANY OVERVIEW
• It is a Biopharmaceutical company
• Development of novel proprietary therapeutics based on HIF
• Lead product candidate, AKB-6548 for treatment of anemia related to chronic kidney
disease
• Plans to commercialize AKB-6548
• Principal stockholders and management own a significant percentage of the stock and
will be able to exercise significant influence over matters subject to stockholder
approval.
• The technology that the company uses is HIF(as hypoxia inducible factor-prolyl )
• HIF-PH inhibitors act by simulating the body’s natural response to anemia.
AKB-6548
The AKB-6548 drug can be used for three different cases.
Dialysis, Non- Dialysis and Idiopathic age-related anemia.
The first drug i.e CKD- Nondialysis has completed the phase 2 of research. CKD- Dialysis
is in its 2nd phase of research
the drug for Idiopathic age-related anemia is in its 1st stage of research
AKB-6899
The AKB- 6899 drug are used for Oncology and Ophthalmology
The drug for Oncology has completed its pre-clinical stage
The drug for Ophthalmology is in its Pre-Clinical stage.
(Source: http://akebia.com/programs/)
Income Statement
Particulars 2013 2014
Operating Profit (14,369) (31,930)
Net Interest (Expense)/Income 704 (207)
Profit Before Tax (11,603) (31,023)
BALANCE SHEET
Particulars 2013 2014
Total Assets 34,665 110,994
Shareholders' Equity 30,755 104,078
Total Debt - -
CASH FLOW
Particulars 2013 2014
Cash flow from operating activities (11,332) (27,482)
Cash flow from investing activities (11,424) (65,352)
Cash flow from financing activities 42,331 104,400
(Source: http://akebia.com/about)
3. MANAGEMENT TEAM HISTORY
SHARE HOLDING PATTERN
SNAPSHOT
(Source: http://akebia.com/about/management-team/)
(Source: http://www.nasdaq.com/symbol/akba/ownership-summary)
(Source: http://akebia.com/about)
Name Qualification Designation Previous Designation
John
Butler
BA in Chemistry and
MBA
President and CEO Head of Renal Division
Jason
Amello
BA and CPA Sr VP and CFO Sr VP and CAO
Nikki
Hadas
BA and JD
Sr VP and General
Counsel
Sr Corporate Counsel
Michel
Dahan
Business Administration
and PLD
VP, Business
Operations
Head,global marketing and
commercial development
Brad
Maroni
Nephrologist Sr VP and CMO Exec VP and CMO
Mark De
Rosch
PhD
VP, Regulatory
Affairs
VP,Head of Global Regulatory Affairs
Tamara
Dillon
VP, Human
Resources
Head, Human Resources
Events Date
2007 Founded in Delaware
March 2014 IPO came up
March 2014 Stock Split
October 2014 Announced positive top-line results
from the phase 2b study for
nondialysis patients
April 2015 Phase 2B completion of AKB-6548
Top 5 Holdings Holding %
Novo A/c 19.30
Eagle Asset Management 15.75
Health Corporation Management 10.76
FMR LLC 9.22
RA Capital Management LLC 7.60
Others 37.36
Total 100.00
4. (Source: http://akebia.com/programs/)
Pipeline Description
AKB-6899 AKB-6548
AKB-6899
AKB-6548
Ophthalmology
Idiopatheic Age Related
Anemia and Oncology
Dialysis & Non Dialysis
Pre Clinical Phase I Phase II Phase III Commercialized
Pipeline Technology
HIF is the primary regulator of the production of red blood cells (RBCs) in the body
The novel mechanism of action is referred to as hypoxia inducible factor-prolyl hydroxylase (HIF-PH) inhibitors.
HIF-PH inhibitors act by simulating the body’s natural response to anemia.
HIF-PH inhibitors work by blocking the effect of the prolyl hydroxylase enzymes, which promote the breakdown of HIFα proteins
HIF helps cells and the body to adapt to modest changes in oxygen, such that would occur with a change in altitude from sea level to up to 7500 feet.
5. Akebia Therapeutics
prices upsized IPO at
$17, the high end of
Significant Sell-Off
Could OccurAt Lockup
Expiration
Anemia biotech Akebia
Therapeutics sets terms
for $76 million
Akebia Progresses with
Chronic Kidney Disease
Candidate
Completes Enrolment in
Phase II Renal Anemia
Study
0
5
10
15
20
25
30
35
3/20/2014
4/3/2014
4/17/2014
5/1/2014
5/15/2014
5/29/2014
6/12/2014
6/26/2014
7/10/2014
7/24/2014
8/7/2014
8/21/2014
9/4/2014
9/18/2014
10/2/2014
10/16/2014
10/30/2014
11/13/2014
11/27/2014
12/11/2014
12/25/2014
1/8/2015
1/22/2015
2/5/2015
2/19/2015
3/5/2015
3/19/2015
4/2/2015
4/16/2015
4/30/2015
(Source: http://www.nasdaq.com/symbol/akba/news-headlines)
News
6. INCOME STATEMENT CASH FLOW STATEMENT
BALANCE SHEET RATIOS
FINANCIAL STATEMENTS(All values in ‘000s and USD except ratios)
Particulars 2013 2014
SG&A 3,699 9,297
R&D 10,670 22,633
Operating Profit (14,369) (31,930)
Net Interest (Expense)/Income 704 (207)
Other Operating Income 3,470 700
Profit Before Tax (11,603) (31,023)
Tax 0 0
Minority Interest 0 0
Net Profit (11,603) (31,023)
Diluted EPS (21) (2)
Particulars 2013 2014
Net Income (69,052) (123,933)
Deprecation & Amortization 1 49
Other Non-cash adjustments 55,789 93,178
Change in Working Capital 1,930 3,224
Cash flow from operating activities (11,332) (27,482)
Capex (19) (229)
(Purchase)/Sale of investments (11,405) (65,123)
Cash flow from investing activities (11,424) (65,352)
Equity Raised/(Repiad) 5 104,328
Other financing acitivities 42,326 72
Cash flow from financing activities 42,331 104,400
Net Cash generated during the period 19,575 11,566
Particulars 2013 2014
Cash and Cash Equivalents 21,215 32,780
Accounts receivables 135 48
Other Current Assets 12,081 77,652
Total Current Assets 33,431 110,480
Net Fixed Assets 30 210
Total LT Assets 1,234 515
Total Assets 34,665 110,995
Liabilities
Payables 714 2,021
Other Current Liabilities 3,188 4,864
Total Current Liabilities 3,902 6,885
Total Liabilities 3,910 6,917
Shareholders' Equity 30,755 104,078
Total Liabilities & Shareholders' Equity 34,665 110,995
Particulars 2014
ROE -46.0%
ROCE -46.4%
ROIC -967.4%
ROA -28%
EPS (2.01)
