Akebia Q1 net loss narrows to $18M; Vafseo FDA approved, launch set for Jan 2025

Akebia Therapeutics, Inc.

2024-Q1 EPS reported -$0.09 revenue$32,607,000

Total revenues $32.6M (Q1 2024) vs $40.0M (Q1 2023); Auryxia net product revenues $31.0M vs $34.7M.
Net loss of $18.0M improved from $26.9M loss in prior year; R&D spend reduced to $9.7M from $19.7M.
Vafseo (vadadustat) FDA approved Mar 27 for dialysis anemia; launch activities underway, availability Jan 2025.
Drew $7.5M second tranche from BlackRock debt facility; $10M remaining borrowing capacity through Dec 31, 2024.
Amended Vifor license agreement: repayment of working capital fund via tiered royalties on Vafseo sales.

item 2.02 item 9.01

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 first quarter ended March 31, 2024 results: revenue $32.6 million, net income Net loss was $18.0 million. Guidance reaffirmed.

Period: the first quarter ended March 31, 2024
Revenue: $32.6 million
Net income: Net loss was $18.0 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Total revenues were $32.6 million for the first quarter of 2024 compared to $40.0 million for the first quarter of 2023.

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Source: SEC EDGAR

accession 0001517022-24-000050

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