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Sep 30, 2021
Akebia Q3 2021 Earnings Report
Akebia reported third quarter financial results and highlighted recent company milestones.
Key Takeaways
Akebia Therapeutics reported a total revenue of $48.8 million for Q3 2021, a decrease compared to $60.0 million for Q3 2020, primarily due to lower collaboration revenue from Otsuka. Net loss was $59.5 million for the third quarter of 2021 compared to $60.0 million for the third quarter of 2020. Net product revenue for Auryxia was $36.8 million for the third quarter of 2021 compared to $34.4 million for the third quarter of 2020.
Pre-commercialization activities are underway in anticipation of March 29, 2022 PDUFA date.
Vadadustat marketing authorization application submitted to the European Medicines Agency.
Auryxia net product revenue reached $36.8 million.
Company settled all patent litigation related to Auryxia, allowing generic versions beginning in March 2025.
Akebia
Akebia
Akebia Revenue by Segment
Revenue by Segment
Auryxia Net Product Revenue
CapyFin.comLicense, Collaboration & Other Revenue
CapyFin.com Forward Guidance
Akebia is focused on pre-commercialization activities for vadadustat and supporting Auryxia revenue growth.
Positive Outlook
- Anticipating potential U.S. launch of vadadustat in 2022.
- Preparing for vadadustat's approval by the FDA.
- Renal sales force is ready for launch.
- Working with partners for successful launch.
- Focusing on broad access initiatives.
Challenges Ahead
- Approval of vadadustat is subject to regulatory review.
- Potential for generic entrants for Auryxia.
- Reliance on third parties for development and manufacturing.
- Competition in the market.
- Changes in economic and financial conditions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income