Here's Why Akcea Therapeutics Jumped 30% Today [The Motley Fool]
AKCEA THERAPEUTICS (AKCA)
Last akcea therapeutics earnings: 2/25 04:05 pm
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Source: The Motley Fool
Here's Why Akcea Therapeutics Jumped 30% Today What happened Shares of Akcea Therapeutics ( NASDAQ:AKCA biotech Pfizer NYSE:PFE Ionis Pharmaceuticals NASDAQ:IONS So what AKCEA-ANGPTL-LRx uses Ionis' antisense technology to knock down expression of a protein called angiopoietin-like (ANGPTL), which is responsible for regulating cholesterol, glucose, and energy metabolism. The drug is currently in a phase study of patients with type diabetes, hypertriglyceridemia (high triglyceride levels) and nonalcoholic fatty liver disease, which should read out in the first half of next year. Akcea will get $0 million upfront from Pfizer. Ionis is due half of that payment, but Akcea will pay for it with $ million in its stock. Akcea and Ionis are eligible to split development, regulatory, and sales milestone payments of up to $. billion from Pfizer. They'll also split tiered, double-digit royalties on annual worldwide net sales of the drug if it's approved. Pfizer will take over development after
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