Akebia Therapeutics ( (AKBA) ) has released its Q4 earnings. Here is a breakdown of the information Akebia Therapeutics presented to its investors.
Akebia Therapeutics, Inc. is a biopharmaceutical company focused on improving the lives of individuals affected by kidney disease, with its headquarters in Cambridge, Massachusetts. The company is known for its innovative approach in the biopharmaceutical sector, particularly in the development of treatments for anemia due to chronic kidney disease.
In its latest earnings report, Akebia Therapeutics announced significant progress in the commercial launch of Vafseo® (vadadustat) in the U.S., with expected net product revenues of $10-$11 million for the first quarter of 2025. The company also highlighted its strong cash position, which is anticipated to support its operations for at least two years.
Key financial metrics from the report indicate a decrease in total revenues to $46.5 million for the fourth quarter of 2024, compared to $56.2 million in the same period of 2023. The full-year revenue also saw a decline from $194.6 million in 2023 to $160.2 million in 2024. Despite these declines, Akebia is optimistic about the potential of Vafseo, having secured commercial supply contracts with major dialysis organizations in the U.S. Additionally, the company is preparing to initiate a Phase 3 clinical trial (VALOR) to expand Vafseo’s label for non-dialysis CKD patients.
The company reported a net loss of $22.8 million for the fourth quarter of 2024, a significant shift from the net income of $0.6 million in the previous year. This was attributed to lower revenues and non-cash interest expenses. However, Akebia’s cash position improved, with cash and cash equivalents rising to $51.9 million by the end of 2024, bolstered by recent share sales and credit agreements.
Looking ahead, Akebia Therapeutics remains focused on establishing Vafseo as a new standard of care for dialysis patients with anemia due to CKD. The company is also exploring opportunities to expand its market reach and enhance its product offerings, with ongoing discussions with the FDA and plans for further clinical trials.