Shares of Akebia Therapeutics (AKBA) - Get Report rose 13.4% to $14.63 in premarket trading on Tuesday. The Cambridge, Mass.-based firm and Vifor Pharma Group after the market close on Monday said they have signed an exclusive license agreement to sell Vadadustat to Fresenius Medical Care dialysis clinics in U.S. upon the U.S. Food and Drug Administration's approval. In addition, Zurich, Switzerland-based Vifor Pharma will make a $50 million equity investment in Akebia at $14 per share.
Vadadustat is in Phase 3 development to treat anemia associated with chronic kidney disease.
Shares of Editas Medicine (EDIT) - Get Report were down 4.6% to $19.10. The Cambridge, Mass.-based firm after the market close on Monday reported a first-quarter net loss attributable to common stockholders of $31.1 million, or $0.85 per share, versus $17.8 million, or $0.80 per share, in the year-ago period.
Also on Monday, Editas said the target date for filing the investigational new drug application for its Leber Congenital Amaurosis type 10 (LCA10) program is moved to mid-2018 "to accommodate certain delays in third-party manufacturing of our LCA10 product candidate and to take full advantage of our newly formed alliance with Allergan."
Leber congenital amaurosis is a rare, degenerative retinal disease that causes blindness in children.
In March, Editas and Allergan (AGN) - Get Report announced a research and development alliance under which Allergan will receive exclusive access and the option to license up to five of Editas' genome-editing ocular programs, including LCA10.
As Cisco (CSCO) - Get Report gears up to report fiscal-third-quarter results on Wednesday, Jim Cramer and the AAP team say they are interested to learn more about integration plans for recently announced acquisitions, as well as Cisco's plans for future capital deployment. Find out what they are telling their investment club members. Get a free trial subscription to Action Alerts PLUS.
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