secwatch.observer — SEC 8-K summary
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Issuer:     Akebia Therapeutics, Inc. (AKBA)
CIK:        0001517022
Form:       8-K
Filed at:   2024-07-11T23:59:59+00:00
Accession:  0001517022-24-000061
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 1.02
LLM model:  deepseek-v4-flash:cloud@v2

Akebia terminates Vafseo license with CSL Vifor, sets royalty payments and buy-down option
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- License agreement terminated immediately for business reasons; Akebia regains full U.S. marketing rights for Vafseo.
- Akebia to repay $40M working capital fund via quarterly tiered royalties of 8-14% of net sales through May 2028.
- Settlement royalties: high single-digit % on net sales up to $450M, mid-single % above; buy-down option from July 2027.
- Amended $55M Kreos loan facility to include covenants linked to the termination agreement.
- Royalty payments commence July 1, 2025; minimum true-up milestones of $10M, $20M, $40M by 2026-2028.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1517022/000151702224000061/0001517022-24-000061-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1517022/000151702224000061/akba-20240710.htm
  HTML page:      https://secwatch.observer/filing/0001517022-24-000061

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