Akebia Therapeutics, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 04, 2022 at 04:27 pm EDT
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Akebia Therapeutics, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported revenue was USD 126.76 million compared to USD 52.91 million a year ago. Net income was USD 29.28 million compared to net loss of USD 83.04 million a year ago. Basic earnings per share from continuing operations was USD 0.16 compared to basic loss per share from continuing operations of USD 0.51 a year ago. Diluted earnings per share from continuing operations was USD 0.15 compared to diluted loss per share from continuing operations of USD 0.51 a year ago.
For the six months, revenue was USD 188.46 million compared to USD 105.22 million a year ago. Net loss was USD 33.15 million compared to USD 152.62 million a year ago. Basic loss per share from continuing operations was USD 0.18 compared to USD 0.97 a year ago. Diluted loss per share from continuing operations was USD 0.18 compared to USD 0.97 a year ago.
Akebia Therapeutics, Inc. is a fully integrated biopharmaceutical company. The Company is focused on developing and commercializing therapeutics. The Companyâs portfolio and hypoxia-inducible factor (HIF)-based pipeline includes Auryxia (ferric citrate), Vafseo (vadadustat), AKB-9090 and AKB-10108. Auryxia (ferric citrate) is an orally administered medicine approved and marketed in the United States for two indications: the control of serum phosphorus levels in adult patients with dialysis dependent chronic kidney disease (DD-CKD), and the treatment of iron deficiency anemia (IDA), in adult patients with non-dialysis-dependent chronic kidney disease (NDD-CKD). Vafseo (vadadustat) is a HIF prolyl hydroxylase (HIF-PH), inhibitor, approved in 36 countries as a treatment for anemia due to chronic kidney disease (CKD). It utilizes third parties for the commercial distribution of Auryxia, including wholesale distributors and certain specialty pharmacy providers.