Akebia Therapeutics receives Nasdaq notice over low stock price

Akebia Therapeutics disclosed in an 8-K filing that on October 21, 2026 it received a deficiency letter from Nasdaq's Listing Qualifications Department. The notice informed the company that for the last 30 consecutive business days, the bid price for its common stock had closed below $1.00 per share, the minimum required to maintain listing on The Nasdaq Capital Market under Listing Rule 5550(a)(2).¹

The notice does not immediately affect the listing of the company's common stock.¹ Under Nasdaq rules, Akebia has an initial 180 calendar day window, running until April 19, 2027, to regain compliance.¹ To regain compliance, the stock's closing bid price needs to reach $1.00 or higher for at least 10 straight business days within that window, after which Nasdaq staff would confirm compliance in writing, unless staff decides to extend that ten-day measurement period under Rule 5810(c)(3)(H).¹

If Akebia misses that first deadline, it may qualify for a second 180 day compliance period, provided it meets the market value requirement for publicly held shares and all other initial listing standards for The Nasdaq Capital Market, aside from the bid price rule.¹ The company would also need to notify Nasdaq staff of its plan to fix the issue during that second period, including a reverse stock split if needed.¹ Nasdaq staff will separately assess whether it believes Akebia can cure the deficiency.¹

If Akebia does not qualify for the second period, or fails to regain compliance by its end, Nasdaq staff would issue a delisting notice, which the company could appeal to a Nasdaq Hearings Panel, though there is no guarantee such an appeal would succeed.¹

Akebia said it plans to track its stock price and consider options to regain compliance, potentially including a reverse stock split.¹