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FDA rejects rare disease drug developed by Cambridge's Akcea

The FDA rejected a drug developed by Cambridge biotech Akcea Therapeutics Inc. in partnership with California-based Ionis Pharmaceuticals that’s intended to treat a rare lipid disorder, halting hopes for a treatment for the currently unserved, debilitating disease.

Cambridge-based Akcea (Nasdaq: AKCA) and Ionis (Nasdaq: IONS) announced the news about the drug, Waylivra, at the close of trading on Monday. The companies had partnered up to develop the drug using Ionis’ antisense technology.

Akcea’s…

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