Akebia Therapeutics given 180 days to fix Nasdaq bid price deficiency

Akebia Therapeutics, Inc. received a deficiency letter from the Nasdaq Stock Market on October 21, 2026, notifying the company that its common stock closed below the required minimum bid price for 30 consecutive business days. The Nasdaq Listing Qualifications Department cited Nasdaq Listing Rule 5550(a)(2), which mandates a minimum bid price of $1.00 per share to maintain continued listing on The Nasdaq Capital Market. The notice does not immediately affect the listing of Akebia's common stock.

The company has an initial compliance period of 180 calendar days, ending April 19, 2027, to regain compliance with the bid price requirement. To satisfy this condition, the closing bid price of Akebia's common stock must reach at least $1.00 per share for a minimum of 10 consecutive business days within that window. Upon meeting this threshold, the Nasdaq staff will provide written notification of regained compliance, unless they exercise discretion to extend the ten-day period under Nasdaq Listing Rule 5810(c)(3)(H).

If Akebia fails to regain compliance during the initial period, it may qualify for a second compliance period of an additional 180 calendar days. Eligibility for this extension requires the company to meet all other initial listing standards for The Nasdaq Capital Market, including the market value of publicly held shares, while still failing to meet the bid price requirement. To pursue this option, Akebia must provide written notice to the Nasdaq staff of its intention to cure the deficiency during the second period, potentially through a reverse stock split. The staff will then determine whether they believe the company can cure the deficiency.

Should Akebia not qualify for the second compliance period, or if it fails to regain compliance by the end of that extended window, the Nasdaq staff will issue a written notice that its securities are subject to delisting. The company retains the right to appeal any delisting determination to a Nasdaq Hearings Panel. However, Akebia noted in its filing that there is no assurance such an appeal would be successful.

John P. Butler, President and Chief Executive Officer of Akebia Therapeutics, signed the Form 8-K on October 23, 2026. The company stated it intends to monitor the closing bid price of its common stock and evaluate available options to regain compliance, which could include seeking to effect a reverse stock split. The filing emphasizes that there is no assurance Akebia will be able to regain compliance with the bid price requirement or maintain compliance with other listing requirements.