Akebia Therapeutics, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 12:45 pm
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Akebia Therapeutics, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 42.05 million compared to USD 48.71 million a year ago. Net loss was USD 14.49 million compared to USD 54.1 million a year ago. Basic loss per share from continuing operations was USD 0.08 compared to USD 0.29 a year ago.
For the nine months, revenue was USD 138.43 million compared to USD 236.7 million a year ago. Net loss was USD 52.54 million compared to USD 88.16 million a year ago. Basic loss per share from continuing operations was USD 0.28 compared to USD 0.48 a year ago.
Akebia Therapeutics, Inc. is a fully integrated biopharmaceutical company. The Company is focused on developing and commercializing therapeutics. The Companyâs portfolio and hypoxia-inducible factor (HIF)-based pipeline includes Auryxia (ferric citrate), Vafseo (vadadustat), AKB-9090 and AKB-10108. Auryxia (ferric citrate) is an orally administered medicine approved and marketed in the United States for two indications: the control of serum phosphorus levels in adult patients with dialysis dependent chronic kidney disease (DD-CKD), and the treatment of iron deficiency anemia (IDA), in adult patients with non-dialysis-dependent chronic kidney disease (NDD-CKD). Vafseo (vadadustat) is a HIF prolyl hydroxylase (HIF-PH), inhibitor, approved in 36 countries as a treatment for anemia due to chronic kidney disease (CKD). It utilizes third parties for the commercial distribution of Auryxia, including wholesale distributors and certain specialty pharmacy providers.