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What Akebia Therapeutics (AKBA) Said on Its Q3 Earnings Call
Nov 5, 11:17 AM·
Medium Pessimistic

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Summarized by i88

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Summary

Akebia Therapeutics (AKBA) reported lower third-quarter revenue and a net loss, driven by declining sales of its kidney disease drug Auryxia. Revenue for anemia treatment Vafseo was also constrained by inventory reductions, despite a sharp increase in patients receiving the drug.

Akebia Therapeutics (NASDAQ: AKBA) reported lower third-quarter revenue and a net loss, according to its Q3 earnings call.

Auryxia Sales Decline

Sales of the company’s kidney disease drug Auryxia fell during the quarter, contributing to the lower revenue.

Vafseo Revenue Constrained by Inventory Reductions

Revenue for Vafseo, the company’s anemia treatment, was also constrained by inventory reductions, even as the number of patients receiving the drug rose sharply.

Key Points

  • Third-quarter revenue was lower than prior levels.
  • The company reported a net loss for the quarter.
  • Auryxia sales declined.
  • Vafseo revenue growth was limited by inventory reductions.
  • The number of patients receiving Vafseo increased sharply.