Akebia Therapeutics ((AKBA)) has held its Q2 earnings call. Read on for the main highlights of the call.
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Akebia Therapeutics’ recent earnings call conveyed a generally positive sentiment, underscored by robust revenue growth and the expansion of Vafseo’s market access. Despite facing challenges with adherence and uncertainties surrounding Auryxia’s market, the company showcased a remarkable financial turnaround and strategic advancements in its clinical trials.
Significant Revenue Growth
Akebia Therapeutics reported a record-breaking net product revenue of over $60 million in Q2 2025, marking the highest level in the company’s history. A significant contributor to this achievement was Vafseo, which generated over $13 million in revenue, reflecting a 55% increase over the previous quarter.
Expansion of Vafseo Access
The company is making substantial strides in expanding Vafseo’s market access. By September, Vafseo is expected to be available to over 75,000 dialysis patients, with projections indicating an increase to over 275,000 patients by the fourth quarter of 2025.
Successful Enrollment in VOICE Trial
Akebia successfully completed enrollment for the VOICE trial, enrolling over 2,100 patients in just seven months. This trial aims to demonstrate the potential superiority of vadadustat in reducing all-cause hospitalization, marking a significant milestone in the company’s clinical research efforts.
Strong Financial Performance
The company reported a net income of $247,000 in Q2 2025, a substantial improvement from a net loss of $8.6 million in the same quarter of the previous year. This turnaround was driven by increased revenues and effective control of operating expenses.
Adherence Challenges with Vafseo
While Vafseo’s adherence rates are consistent with industry standards at 70% to 80%, some patients have transitioned back to their prior ESAs due to hemoglobin drops, presenting a challenge that the company is addressing.
Uncertainty in Auryxia’s Future Sales
The future sales levels of Auryxia remain uncertain, primarily due to potential additional generic competition. This uncertainty poses challenges in predicting future performance in this segment.
Forward-Looking Guidance
Looking ahead, Akebia anticipates continued progress with Vafseo vadadustat, projecting patient access to expand significantly by Q4 2025. The VOICE trial is expected to complete by late 2026, potentially establishing Vafseo as a standard of care. The company maintains a strong cash position of $137.3 million, supporting its financial stability and strategic initiatives.
In conclusion, Akebia Therapeutics’ earnings call highlighted a positive financial trajectory, driven by significant revenue growth and strategic advancements. While challenges remain, particularly with adherence and market uncertainties, the company’s forward-looking guidance suggests a promising outlook for its key products and clinical trials.