Akebia reports Q4 2023 net income $0.6M, Auryxia $53.2M; vadadustat PDUFA Mar 27

Akebia Therapeutics, Inc.

Net income of $0.6M in Q4 2023 vs net loss $6.1M a year ago; full-year net income $51.9M vs loss $94.2M in 2022.
Auryxia net product revenue $53.2M in Q4, $170.3M full year, within guidance of $170-175M.
Vadadustat PDUFA date March 27, 2024; Akebia preparing for potential U.S. launch.
Closed $55M BlackRock term loan and raised $26M via ATM; cash $42.9M at year-end, sufficient for 24 months if vadadustat approved.
Appointed Nicholas Grund as Chief Commercial Officer; introduced early-stage pipeline programs AKB-9090 and AKB-10108.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Akebia Therapeutics, Inc. reported the fourth quarter ended December 31, 2023 results: revenue $56.2 million, net income $0.6 million.

Period: the fourth quarter ended December 31, 2023
Revenue: $56.2 million
Net income: $0.6 million
Result: reported results

Exact text from the filing

Financial Results • Revenues: Total revenues were $56.2 million for the fourth quarter of 2023 compared to $55.8 million for the fourth quarter of 2022, and $194.6 million for the full-year 2023 compared to $292.5 million for the full-year 2022. ◦ Net product revenues were $53.2 million for the fourth quarter of 2023 compared to $50.3 million for the fourth quarter of 2022, and $170.3 million for the full-year 2023 compared to $176.9 million for the full-year 2022. ◦ License, collaboration and other revenues were $3.0 million for the fourth quarter of 2023 compared to $5.5 million for the fourth quarter of 2022, and $24.3 million for the full-year 2023 compared to $115.5 million for the full-year 2022. • COGS: Cost of goods sold was $18.7 million for the fourth quarter of 2023 compared to a benefit of $3.4 million for the fourth quarter of 2022, and $74.1 million for the full-year 2023 compared to $85.6 million for the full-year 2022. Akebia continues to record a non-cash intangible am

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Akebia Therapeutics, Inc. reported the fiscal year ended December 31, 2023 results: revenue $194.6 million, net income $51.9 million.

Period: the fiscal year ended December 31, 2023
Revenue: $194.6 million
Net income: $51.9 million
Result: reported results

Exact text from the filing

Financial Results • Revenues: Total revenues were $56.2 million for the fourth quarter of 2023 compared to $55.8 million for the fourth quarter of 2022, and $194.6 million for the full-year 2023 compared to $292.5 million for the full-year 2022. ◦ Net product revenues were $53.2 million for the fourth quarter of 2023 compared to $50.3 million for the fourth quarter of 2022, and $170.3 million for the full-year 2023 compared to $176.9 million for the full-year 2022. ◦ License, collaboration and other revenues were $3.0 million for the fourth quarter of 2023 compared to $5.5 million for the fourth quarter of 2022, and $24.3 million for the full-year 2023 compared to $115.5 million for the full-year 2022. • COGS: Cost of goods sold was $18.7 million for the fourth quarter of 2023 compared to a benefit of $3.4 million for the fourth quarter of 2022, and $74.1 million for the full-year 2023 compared to $85.6 million for the full-year 2022. Akebia continues to record a non-cash intangible am

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Akebia Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001517022-24-000029

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