Akebia Therapeutics Reports Q4 Revenue Success, Plans Phase 3 Trial for Vafseo

Akebia Therapeutics has reported a mixed financial performance during its Q4 earnings call, highlighting a successful launch of its chronic kidney disease drug, Vafseo, which exceeded revenue expectations with $46.5 million, but also faced challenges such as decreased revenue from Auryxia and a larger-than-expected net loss. The company plans to expand the use of Vafseo by initiating a Phase 3 clinical trial to assess the drug's efficacy in non-dialysis patients with late-stage chronic kidney disease. Despite the promising market reception and physician engagement for Vafseo, Akebia's stock fell 20% following the earnings report due to a wider loss per share than anticipated. The annual 10-K report indicated a total revenue of $160.2 million, marking an 18% decline year-over-year, attributed primarily to reduced sales volume and collaboration revenue. Although the company has faced setbacks, the ongoing regulatory discussions regarding the VALOR trial protocol offer potential pathways for growth and market expansion. Overall, Akebia remains cautiously optimistic about Vafseo's prospects and its future clinical endeavors.