Akebia Therapeutics Reports Third Quarter 2026 Financial Results and Business Highlights - GlobeNewswire
GlobeNewswire · Nov 5, 12:10 PM
Akebia Therapeutics Reports Positive Topline Data from - GlobeNewswire
GlobeNewswire · Nov 5, 12:00 PM
Market reactionShares fell 39% on Nov 5.
Akebia is a commercial-stage company that sells Vafseo, an oral anemia treatment for dialysis patients, and Auryxia, which faces generic competition, and develops drugs for rare kidney diseases.
Akebia's case rests on Vafseo adoption outgrowing Auryxia's generic erosion. Vafseo sales rose 34% to $21.3 million in Q2, and VOICE favored three-times-weekly dosing over ESAs on death and hospitalization combined, driven by fewer hospitalizations. Additional hemoglobin-control findings support differentiation, while the boxed warning remains. Ebribafusp and praliciguat provide kidney-disease pipeline opportunities. Management's funding outlook depends partly on planned term-loan refinancing; continued commercial growth must support that plan.
Thesis checklist
0 risks need attention
Why it is in this state
The evidence, what would weaken it and the source filing
Why it is in this state
The evidence, what would weaken it and the source filing
Why it is in this state
The evidence, what would weaken it and the source filing
Why it is in this state
The evidence, what would weaken it and the source filing
Next decision point
Tests: Vafseo sales keep growing
Do Vafseo sales and patient growth strengthen enough to narrow the gap left by Auryxia's decline?
Strong, inconclusive and weak outcomes
What to look for in the result and how each would move the checklist
Price and material events
Select an event marker to read the update below. Marker colors show Thesis status.
Vafseo's broader VOICE findings support differentiation; commercial growth remains central
VOICE interim met its stopping criteria on death and hospitalization for vadadustat; Vafseo revenue funds the pivot to the AKB-097 complement kidney program
VALOR trial cancellation following FDA feedback
About this history: every entry shows when the Thesis moved and what it said. The reasoning behind each move (the evidence, the analysis and the source filing) and the earnings write-ups are part of a subscription.
Dates, trials and completed outcomes are open to everyone. What each upcoming milestone hinges on is part of a subscription.
Disease areas: Eye diseases, Kidney diseases, Blood disorders, Lung and respiratory diseases
Catalyst calendar · Upcoming FDA decisions · Thesis changes
Competitive landscape
8 peers tracked
Cash: Market-data provider estimate; measurement period unavailable.
Debt: Market-data provider estimate; a complete comparable filing balance is unavailable.
Quarterly burn: Estimated from trailing free cash flow; measurement period unavailable.
Net cash and estimated runway require verified matching measurement periods. Missing debt components are not assumed to be zero.
Runway: No underlying guidance available.