---
schema_version: "secwatch.filing_event.v1"
accession: "0001517022-25-000051"
form_type: "8-K"
ticker: "AKBA"
cik: "0001517022"
company_name: "Akebia Therapeutics, Inc."
filed_at: "2025-12-01T23:59:59+00:00"
generated_at: "2026-05-16T15:52:42.491825+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Akebia buys ADX-097 from Q32 Bio for $10M upfront (total up to $582M milestones); plans Phase 2 trials in 2026

## Summary
- Upfront $7M paid at closing, additional $3M due in 6 months; development milestones up to $94.5M and commercial milestones up to $487.5M, plus tiered royalties from low single to mid-teen %.
- AKB-097 is a tissue-targeted C3d-Factor H fusion protein complement inhibitor; Phase 2 basket trial in multiple rare kidney diseases planned to start treating subjects in 2026.
- Praliciguat (sGC stimulator) Phase 2 trial initiated in FSGS; additional rare podocytopathy indications planned.
- Existing cash resources plus cash from operations expected to fund current operating plan for at least 2 years.

## SEC filing metadata
- accession: 0001517022-25-000051
- form_type: 8-K
- ticker: AKBA
- cik: 0001517022
- company_name: Akebia Therapeutics, Inc.
- filed_at: 2025-12-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1517022/000151702225000051/0001517022-25-000051-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1517022/000151702225000051/akba-20251128.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001517022-25-000051
- JSON: https://secwatch.observer/filing/0001517022-25-000051.json
- Plain text: https://secwatch.observer/filing/0001517022-25-000051.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.