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Dec 31, 2019
Akebia Q4 2019 Earnings Report
Akebia reported fourth quarter and full-year 2019 financial results, highlighting progress in vadadustat development and commercialization, and extended its cash runway into 2021.
Key Takeaways
Akebia Therapeutics reported total revenue of $69.6 million for Q4 2019, compared to $59.9 million for Q4 2018. The company's net loss for the quarter was $94.5 million, compared to $60.1 million for the same period in the previous year. The company's cash, cash equivalents and available-for-sale securities as of December 31, 2019 were $147.7 million.
Top-line data readouts of global Phase 3 program for vadadustat on track for Q2 of 2020 and mid-2020.
Company extends cash runway well into 2021.
Total revenue was $69.6 million for the fourth quarter of 2019 compared to $59.9 million for the fourth quarter of 2018.
Net loss was $94.5 million for the fourth quarter of 2019 compared to $60.1 million for the fourth quarter of 2018.
Revenue by Segment
Forward Guidance
Akebia is focused on advancing its global Phase 3 program for vadadustat and anticipates top-line data readouts in Q2 2020 and mid-2020. The company expects to potentially access a Priority Review Voucher (PRV) for the vadadustat New Drug Application (NDA) to expedite FDA review.
Positive Outlook
- Top-line data from INNO2VATE on track for the second quarter of 2020.
- Top-line data from PRO2TECT in mid-2020.
- Potential access to a Priority Review Voucher (PRV) for the vadadustat New Drug Application (NDA) to expedite FDA review.
- Cash runway extended well into 2021.
- Expects $15.0 million regulatory milestone from Mitsubishi Tanabe Pharma Corporation.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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