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Akebia Q1 2025 Earnings Report
Akebia Therapeutics reported strong first quarter 2025 financial results, driven by the initial U.S. launch of Vafseo® and increased Auryxia® sales, leading to a net income of $6.1 million.
Key Takeaways
Akebia Therapeutics reported a net income of $6.1 million for Q1 2025, a significant improvement from a net loss of $18.0 million in Q1 2024, primarily due to total revenues increasing to $57.3 million, driven by the successful U.S. launch of Vafseo® and strong Auryxia® sales.
Vafseo® (vadadustat) U.S. product launch generated $12.0 million in net product revenues in Q1 2025.
Total Q1 2025 net product revenues reached $55.8 million, contributing to overall revenue growth.
The company's balance sheet was bolstered by a $50 million underwritten public offering, increasing cash and cash equivalents to $113.4 million.
Net income for Q1 2025 was $6.1 million, a substantial improvement compared to a net loss of $18.0 million in the prior year period.
Revenue by Segment
Forward Guidance
Akebia Therapeutics plans to continue driving Vafseo adoption across all dialysis providers, initiate a Phase 3 clinical trial for vadadustat in late-stage CKD patients not on dialysis, and believes it is financed to achieve profitability based on its current operating plan.
Positive Outlook
- Plan to continue driving Vafseo adoption across all dialysis providers, large and small.
- Expect to initiate a Phase 3 clinical trial (VALOR) for vadadustat in late-stage CKD patients not on dialysis in the second half of 2025.
- Believes it is financed to achieve profitability based on its current operating plan.
- Pursuing label expansion for Vafseo.
- Advancing other existing programs.
Challenges Ahead
- No trial has identified a hemoglobin target level, dose of VAFSEO, or dosing strategy that does not increase risks.
- VAFSEO has not been studied and is not recommended in patients with active malignancies.
- The safety of VAFSEO has not been established for the treatment of anemia due to CKD in adults not on dialysis and its use is not recommended in this setting.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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