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Dec 31, 2020
Akebia Q4 2020 Earnings Report
Akebia reported fourth quarter and full-year 2020 financial results and provided business updates.
Key Takeaways
Akebia Therapeutics reported a Q4 2020 total revenue of $56.7 million, a decrease compared to $69.6 million in Q4 2019. The net loss was $87.0 million, slightly better than the $94.5 million net loss in the same quarter of the previous year. The company's cash position remained strong with $268.7 million in cash, cash equivalents, and available-for-sale securities.
Total revenue for Q4 2020 was $56.7 million, compared to $69.6 million for Q4 2019.
Net product revenue increased to $34.6 million for Q4 2020, up from $28.9 million for Q4 2019.
Net loss for Q4 2020 was $87.0 million, compared to $94.5 million for Q4 2019.
Cash, cash equivalents and available-for-sale securities totaled $268.7 million as of December 31, 2020.
Akebia
Akebia
Akebia Revenue by Segment
Revenue by Segment
Auryxia Net Product Revenue
CapyFin.comLicense, Collaboration & Other Revenue
CapyFin.com Forward Guidance
Akebia anticipates that the COVID-19 pandemic will continue to negatively impact Auryxia revenue growth due to higher hospitalization and mortality rates among kidney patient populations. The company is focused on improving its cost structure and maintaining a strong balance sheet, as evidenced by the recent royalty transaction with HCR. Akebia expects its cash resources to fund its operating plan beyond the anticipated U.S. launch of vadadustat.
Positive Outlook
- Focus on improving cost structure.
- Maintaining a strong balance sheet.
- Recent $60 million non-dilutive royalty transaction with HCR.
- Cash resources expected to fund the operating plan beyond vadadustat launch.
- Advancing vadadustat toward commercialization.
Challenges Ahead
- COVID-19 continues to adversely impact the patient population.
- Expectation of negative impact on future Auryxia revenue growth.
- Higher hospitalization rates among kidney patient populations.
- Higher mortality rates among kidney patient populations.
- Unable to fully quantify the impact of COVID-19 on future revenues.
Revenue & Expenses
Visualization of income flow from segment revenue to net income