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Mar 31, 2021
Akebia Q1 2021 Earnings Report
Akebia reported financial results for Q1 2021 and highlighted recent corporate milestones.
Key Takeaways
Akebia Therapeutics reported a total revenue of $52.3 million for the first quarter of 2021, compared to $88.5 million for the first quarter of 2020. The net loss was $69.6 million, an increase from $60.7 million in the previous year. As of March 31, 2021, the company's cash, cash equivalents, and available-for-sale securities totaled $272.8 million.
Submitted the vadadustat NDA to the FDA.
Results of global Phase 3 programs for vadadustat published in New England Journal of Medicine.
Total revenue was $52.3 million for the first quarter of 2021.
Cash, cash equivalents and available-for-sale securities as of March 31, 2021 were $272.8 million.
Akebia
Akebia
Akebia Revenue by Segment
Revenue by Segment
Auryxia Net Product Revenue
CapyFin.comLicense, Collaboration & Other Revenue
CapyFin.com Forward Guidance
Akebia expects its cash resources to fund its current operating plan beyond the expected U.S. launch of vadadustat, assuming timely regulatory approval and the receipt of associated regulatory milestones.
Positive Outlook
- Company expects its cash resources to fund its current operating plan beyond the expected U.S. launch of vadadustat.
- Vadadustat NDA was submitted to the FDA.
- The company is working with Otsuka on the preparation of a Marketing Authorization Application (MAA) for vadadustat for submission to the European Medicines Agency (EMA), expected this year.
- Auryxia’s positioning will drive product revenue growth for the year.
- The company believe that Auryxia’s performance highlights Auryxia’s favorable product profile and the critical nature of this therapy, as well as the company’s team’s ability to execute at a high level
Challenges Ahead
- The ongoing impact of COVID-19 on dialysis patients.
- The company remain cautious due to COVID-19.
- Lower collaboration revenue.
- Higher cost of goods sold.
- Vadadustat is not approved by the U.S. Food and Drug Administration (FDA) or any other regulatory authority with the exception of Japan’s Ministry of Health, Labour and Welfare (MHLW).
Revenue & Expenses
Visualization of income flow from segment revenue to net income