Akebia Q2 2022 Earnings Report

Akebia reported an increase in Auryxia revenue and regained full rights to vadadustat.

Key Takeaways

Akebia Therapeutics reported a net income of $29.3 million for Q2 2022, a significant turnaround from the $83.0 million net loss in Q2 2021. The company saw a 32.4% increase in net Auryxia product revenue, reaching $43.7 million. Additionally, Akebia regained full rights to vadadustat in the U.S., Europe, and other markets and increased its 2022 net Auryxia product revenue guidance to $170 - $175M.

Net Auryxia product revenue increased by 32.4% to $43.7M compared to Q2 2021.

2022 net Auryxia product revenue guidance was increased to $170 - $175M.

Akebia regained full rights to vadadustat in the U.S., Europe, and other markets.

Operating expenses were decreased to support the company's three strategic pillars.

Total Revenue

$127M

Previous year: $52.9M

+139.6%

EPS

$0.23

Previous year: -$0.51

-145.1%