Thursday’s 10 Worst-Performing Stocks

3. Akebia Therapeutics Inc. (NASDAQ:AKBA)

Akebia Therapeutics saw its share prices decline by 28.17 percent on Thursday to finish at $2.04 each as investors soured on the disappointing price of its $50 million follow on offering.

Under the offer, AKBA would sell 25 million common shares at a price of $2 apiece, a discount from its $2.04 finish on Thursday and this week’s highest of $2.84.

In addition, AKBA granted its underwriters a 30-day option to purchase up to 3.75 million shares at the same public offer price.

The offer is expected to close on Friday, March 21, 2025, subject to the satisfaction of customary closing conditions.

AKBA said the shares on offer are pursuant to a shelf registration statement that was filed with the Securities and Exchange Commission on September 3, 2024 and declared effective by the SEC on September 12, 2024.