Unexpected shakeup at Akcea comes amid drug launches

Akcea Therapeutics lost roughly $412 million in market cap as the executive team was unexpectedly gutted on Monday. For now, an interim CEO hailing from majority owner Ionis Pharmaceuticals has been installed. The shakeup could have a negative effect on the biotech as it’s in the midst of two new drug launches.

Paula Soteropoulos, CEO, Sarah Boyce, president, and Jeff Goldberg, COO, have all left Akcea Therapeutics Inc. (NASDAQ:AKCA), the company announced Monday. Soteropoulos and Goldberg will remain with the company through Oct. 31 as advisers. According to an SEC filing, the parties entered into separation agreements that terminated their employment with Akcea five days previously on Sept. 18...