Shares of Akebia Therapeutics (AKBA) 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) 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) 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.
Among the other biotech movers on Tuesday was Novavax (NVAX) . Shares of the Gaithersburg, Md.-based vaccine company were up 4.6% to $1.14.
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