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Jun 30, 2023
Akebia Q2 2023 Earnings Report
Akebia reported second quarter financial results and recent business highlights.
Key Takeaways
Akebia Therapeutics reported a total revenue of $56.4 million for Q2 2023, with net product revenue of $42.2 million. The company experienced a net loss of $11.2 million, and expects to resubmit NDA for vadadustat in Q3 2023.
Expects to resubmit NDA for vadadustat as a treatment for anemia due to CKD in adult patients on dialysis in Q3 2023
Reported Auryxia® (ferric citrate) net product revenue of $42.2 million for Q2 2023 and reaffirms 2023 net product revenue guidance of $175.0-$180.0 million
The European Commission, United Kingdom Medicines and Healthcare products Regulatory Agency and Swiss Agency for Therapeutic Products approved Vafseo for the treatment of symptomatic anemia associated with chronic kidney disease in adults on chronic maintenance dialysis.
Akebia entered into an exclusive license agreement with MEDICE Arzneimittel Pütter GmbH&Co.KG (Medice), granting Medice the rights to market and sell Vafseo in the European Economic Area, the United Kingdom, Switzerland and Australia.
Forward Guidance
Akebia reaffirms 2023 Auryxia net product revenue guidance of $175.0 - $180.0 million and expects to fund its current operating plan with existing cash resources and cash from operations for at least the next twelve months.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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