Akebia Therapeutics Announces Corporate Updates and 2026 Pipeline Outlook

Rhea-AI Summary

Akebia Therapeutics (Nasdaq: AKBA) provided 2026 corporate updates focused on Vafseo commercial progress and its mid‑stage rare kidney disease pipeline. The company said it has prescribing access covering ~275,000 dialysis patients, completed enrollment in the Phase IV VOICE trial (>2,100 patients) with topline results expected in early 2027, and enrolled ~350 patients in VOCAL with data expected in Q4 2026. Akebia reported Q4 2025 Vafseo net product revenue expectation of $5–$6 million (impacted by a $4.5–$5 million channel inventory reduction) and said revenue growth is expected to resume in Q1 2026. Pipeline updates include first patient dosed in praliciguat Phase 2 for FSGS (Dec 2025) and a planned AKB-097 Phase 2 basket trial starting 2H 2026 with initial data expected in 2027.

Positive

• Prescribing access for Vafseo to ~275,000 dialysis patients
• VOICE Phase IV enrollment >2,100 patients; topline early 2027
• VOCAL enrollment ~350 patients; data expected Q4 2026
• First patient dosed in praliciguat Phase 2 for FSGS (Dec 2025)
• AKB-097 Phase 2 basket trial planned to start 2H 2026

Negative

• Q4 2025 Vafseo net product revenue constrained to $5–$6 million
• Channel inventory decreased by $4.5–$5 million in Q4 2025
• Fewer patient starts and lower average dose at USRC centers

News Market Reaction

-7.89%

15 alerts

-7.89% News Effect

-9.1% Trough in 26 hr 11 min

-$33M Valuation Impact

$382M Market Cap

1.5x Rel. Volume

On the day this news was published, AKBA declined 7.89%, reflecting a notable negative market reaction. Argus tracked a trough of -9.1% from its starting point during tracking. Our momentum scanner triggered 15 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $33M from the company's valuation, bringing the market cap to $382M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Vafseo prescribing access: approximately 275,000 patients VOICE trial size: over 2,100 patients VOCAL enrollment: approximately 350 patients +5 more

8 metrics

Vafseo prescribing access approximately 275,000 patients Dialysis patients with prescribing access entering 2026

VOICE trial size over 2,100 patients Phase IV VOICE trial evaluating Vafseo TIW vs ESAs

VOCAL enrollment approximately 350 patients Phase IV VOCAL trial of TIW Vafseo vs ESAs

Vafseo prescribers approximately 785 prescribers Total prescribers in Q4 2025, up 8% vs Q3

Underlying Vafseo demand $10.5–$11.5 million Estimated patient dosing demand in Q4 2025

Channel inventory decrease $4.5–$5 million Inventory reduction from new USRC dosing protocol in Q4 2025

Vafseo net product revenue $5–$6 million Expected Q4 2025 Vafseo net product revenue

Refill adherence improvement 75% to 91% First refill adherence in USRC centers after protocol change

Market Reality Check

Price: $1.38 Vol: Volume 2,580,576 is rough...

normal vol

$1.38 Last Close

Volume Volume 2,580,576 is roughly in line with the 20-day average of 2,720,751. normal

Technical Shares at $1.52 are trading below the 200-day MA of $2.67, near the 52-week low.

Peers on Argus

AKBA gained 2.01% while key peers were mixed: AQST -3.1%, ORGO +0.72%, SIGA -2.5...

AKBA gained 2.01% while key peers were mixed: AQST -3.1%, ORGO +0.72%, SIGA -2.51%, ESPR -2.02%, DVAX -0.06%, suggesting a stock-specific reaction to the corporate and pipeline update.

Historical Context

5 past events · Latest: Jan 06 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 06	Clinical trial start	Positive	-2.6%	First patient dosed in Phase 2 praliciguat FSGS trial.
Jan 05	Inducement options	Neutral	-2.6%	Inducement stock options granted to a newly hired employee.
Dec 01	Inducement options	Neutral	-2.6%	Inducement stock options granted to two new employees.
Dec 01	Pipeline expansion	Positive	-4.4%	Establishment of rare kidney disease pipeline with AKB-097 and praliciguat.
Nov 24	Conference participation	Neutral	+2.6%	Participation in Piper Sandler healthcare conference fireside chat.

Pattern Detected

Recent positive and strategic updates have often been followed by negative price reactions, with only a conference appearance seeing a modestly positive move.

Recent Company History

Over the past few months, Akebia advanced its nephrology strategy while the stock often traded lower on news. A rare kidney disease pipeline centered on AKB-097 and praliciguat was established on Dec 1, 2025, and the first FSGS Phase 2 patient was dosed in early Jan 2026. Multiple inducement option grants and a conference appearance rounded out disclosures. Today’s broad 2026 outlook and Vafseo commercialization update build directly on these pipeline and commercial steps.

Market Pulse Summary

The stock moved -7.9% in the session following this news. A negative reaction despite operational an...

Analysis

The stock moved -7.9% in the session following this news. A negative reaction despite operational and pipeline progress would fit a recent pattern where positive updates were followed by declines. Prior news on the rare kidney disease pipeline and trial initiations saw several downward moves. With the stock already well below its 52-week high and under the 200-day MA, a drop of 5% or more could reflect skepticism about translating 2026 milestones into durable financial performance rather than a lack of clinical activity.

Key Terms

focal segmental glomerulosclerosis (FSGS), phase 2, phase IV, erythropoietin stimulating agents (ESAs), +4 more

8 terms

focal segmental glomerulosclerosis (FSGS) medical

"Phase 2 clinical trial studying focal segmental glomerulosclerosis (FSGS)"

A disease in which parts of the kidney’s tiny filters become scarred and stop working properly, causing protein to leak into the urine and progressively reducing kidney function. Think of it as a coffee filter developing holes and clogs: the filter can’t keep the liquid clean, which can lead to costly treatment or dialysis if it worsens. Investors watch it because the condition drives demand for diagnostics, drugs, and procedures, influences clinical trial activity and regulatory outcomes, and can affect healthcare spending and company revenues in the nephrology and biotech sectors.

phase 2 medical

"First patient dosed in Praliciguat Phase 2 clinical trial"

Phase 2 is the mid-stage clinical trial where a new drug or treatment is tested in a larger group of patients to see if it works and to keep checking safety after initial human testing. Think of it as a field test that proves whether a product actually delivers its promised benefit. Investors watch Phase 2 closely because its results strongly influence a medicine’s chances of reaching the market, the size of its potential sales, and the company’s valuation.

phase IV medical

"Completed enrollment in VOICE, a large Phase IV trial of over 2,100 patients"

Phase IV is the stage of testing that happens after a drug or medical product has received regulatory approval and is used widely by patients. Think of it as ongoing real-world monitoring—like watching how a car performs after thousands have been sold—to spot rare side effects, long-term benefits, or new uses; findings can change labels, prompt safety warnings, or alter sales and investor confidence.

erythropoietin stimulating agents (ESAs) medical

"evaluating Vafseo TIW against standard-of-care erythropoietin stimulating agents (ESAs)"

Erythropoietin stimulating agents (ESAs) are medicines that act like a fertilizer for the body’s red blood cell production, used to treat anemia caused by conditions such as chronic kidney disease or chemotherapy. They matter to investors because their safety profile, regulatory approvals, dosing guidelines, and insurance reimbursement determine market demand, pricing and sales stability, while competing therapies or safety warnings can quickly change a drug maker’s revenue outlook.

soluble guanylate cyclase (sGC) stimulator medical

"Praliciguat is a soluble guanylate cyclase (sGC) stimulator being evaluated"

A soluble guanylate cyclase (sGC) stimulator is a type of drug that boosts a naturally occurring enzyme in blood vessel walls to increase a messenger molecule that relaxes and widens vessels, improving blood flow and lowering pressure. For investors, this drug class matters because clinical results, regulatory approval, and safety can quickly change a company’s market value given its potential use in conditions like high blood pressure in the lungs and heart failure — think of it as turning up a dimmer switch to ease strain on the circulatory system.

podocytopathies medical

"plans to assess its use in other rare podocytopathies in the future"

Podocytopathies are diseases that damage podocytes, the specialized cells in the kidney that act like tiny filter fibers keeping valuable proteins in the blood. When these cells are injured the kidney leaks protein into the urine, which can lead to swelling, reduced kidney function or long-term kidney failure. Investors track podocytopathies because successful treatments or failed trials can strongly affect drug development prospects, regulatory approval, and market opportunity in renal medicine.

hif-ph inhibitor medical

"AKB-9090 is a HIF-PH inhibitor that is entering Phase 1"

A HIF‑PH inhibitor is a type of medicine that tricks cells into acting as if they are in low oxygen by blocking the enzyme that removes a key oxygen-sensing protein (HIF). That causes the body to raise levels of erythropoietin and other oxygen‑protecting responses, which can increase red blood cell production. Investors care because these oral drugs offer alternative treatments for anemia and other conditions, so their clinical results, safety profile, and regulatory approvals can drive sales, partnerships, and stock moves.

ischemia-reperfusion injury medical

"shown to prevent kidney damage in an ischemia-reperfusion injury animal model"

Ischemia-reperfusion injury is tissue damage that happens when blood flow returns to an area after a period of limited or stopped circulation; the return of oxygen and immune cells can trigger inflammation and cell stress that sometimes causes more harm than the original shortage. For investors, treatments or devices that prevent or reduce this response matter because they can change clinical outcomes, influence regulatory approval and reimbursement, and shape the commercial value of therapies for heart attack, stroke, surgery and transplant care.

AI-generated analysis. Not financial advice.

 Positioned to increase depth of Vafseo prescribing entering 2026 with access to approximately 275,000 patients

First patient dosed in Praliciguat Phase 2 clinical trial studying focal segmental glomerulosclerosis (FSGS)

AKB-097 Phase 2 rare kidney disease basket trial scheduled to begin in 2H 2026 with initial data expected in 2027

CAMBRIDGE, Mass., Jan. 12, 2026 (GLOBE NEWSWIRE) -- Akebia Therapeutics^®, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, today announced key corporate updates associated with its Vafseo^® (vadadustat) commercial business and provided an outlook on upcoming milestones, including for its next anticipated growth driver, Akebia’s mid-stage rare kidney disease pipeline.

“We enter 2026 in a solid financial position and expect increased demand for Vafseo as we believe existing customers will accelerate adoption of the product and new customers will operationalize Vafseo protocols within their organizations,” said John P. Butler, Chief Executive Officer of Akebia. “We continue to generate post-marketing Vafseo clinical data that will support our goal to make Vafseo standard of care to treat anemia due to chronic kidney disease (CKD) in dialysis. In parallel, we are aggressively progressing our pipeline, including our recently announced rare kidney disease programs, where we will leverage our scientific leadership in nephrology with an aim to help patients in need of new therapies. Our revenue-generating products are the engine driving advancement of our mid-stage pipeline, which, along with continued adoption of Vafseo, we believe can drive significant shareholder value this year and beyond.”

Driving to Standard of Care – 2025 Vafseo Achievements

• Secured broad prescribing access for Vafseo encompassing approximately 275,000 patients on dialysis, which is expected to facilitate additional demand in 2026.
• Supported dialysis organizations’ implementation of modified dosing protocols or pilots now underway at the top 5 dialysis organizations with prescribing access.
• Completed enrollment in VOICE, a large Phase IV trial of over 2,100 patients evaluating Vafseo TIW against standard-of-care erythropoietin stimulating agents (ESAs) using a hierarchical composite endpoint of all-cause mortality and all-cause hospitalization. VOICE topline results are expected in early 2027 with the potential to help establish Vafseo as a standard of care to treat anemia due to CKD in dialysis.
• Presented a post-hoc analysis of all-cause mortality and hospitalization from the Phase 3 INNO₂VATE trials of vadadustat at the American Society of Nephrology Kidney Week 2025 (ASN Kidney Week). The presentation entitled, “Win-Odds Analysis of Deaths and Hospitalization in Patients taking Vadadustat or Darbepoetin Alfa for CKD-Related Anemia Undergoing Dialysis,” demonstrated favorable and statistically significant effects of Vafseo relative to the ESA darbepoetin alfa on the hierarchical composite endpoint of death or hospitalization.
• Enrolled approximately 350 patients in VOCAL, a Phase IV trial evaluating TIW dosing of Vafseo versus ESAs, which is expected to report data in Q4 2026. The VOCAL trial also contains a sub-study of Vafseo’s impact on red blood cell characteristics.
  
  

Vafseo Q4 2025 Performance Expectations

• Total number of prescribers in Q4 was approximately 785, an increase of 8% over Q3.
• At least 25% of new patients in Q4 came from dialysis organizations other than U.S. Renal Care (USRC), an increase from less than 10% in Q3.
• We believe underlying patient dosing demand for Vafseo in Q4 2025 was between approximately $10.5 and $11.5 million.
• In Q4, we saw fewer patient starts at USRC centers anticipating the initiation of a new in-center observed dosing protocol and a decrease in average dose levels at centers that shifted to the observed dosing protocol. Within centers that adopted this protocol in Q4, first refill adherence rates improved from 75% in the first 9 months of 2025 to 91% in Q4. This new protocol at USRC contributed to an overall decrease in channel inventory of $4.5-$5 million. We expect Q4 2025 Vafseo net product revenue, driven in part by this inventory adjustment, will be in the range of $5-$6 million.
• We expect revenue growth to resume in Q1 2026 from increased patient access as well as anticipated improvement in adherence and compliance.
  
  

Rare Kidney Disease Pipeline Activities:

• Praliciguat is a soluble guanylate cyclase (sGC) stimulator being evaluated in a Phase 2 clinical trial for the treatment of biopsy-confirmed FSGS, a rare kidney disease, with plans to assess its use in other rare podocytopathies in the future. Akebia dosed the first patient in the FSGS study in December 2025. For more information about this study, please visit NCT07268638.
  
• AKB-097 (formerly known as ADX-097) is a tissue-targeted anti-C3d-Factor H fusion protein complement inhibitor that has potential applicability across a wide range of complement-mediated rare kidney diseases and is not expected to result in systemic complement inhibition seen with other inhibitors.
  • Akebia plans to initiate an open label Phase 2 rare kidney disease basket study in the second half of 2026, with initial data generation expected in 2027.
  • Akebia plans to evaluate IgA Nephropathy (IgAN), Lupus Nephritis (LN) and C3 Glomerulopathy (C3G) as part of the study.
    
    

Other Kidney Disease Pipeline Activities:

• AKB-9090 is a HIF-PH inhibitor that is entering Phase 1 for acute kidney injury associated with cardiac surgery in the first half of 2026. The drug candidate was shown to prevent kidney damage in an ischemia-reperfusion injury animal model.
  
  

About Akebia Therapeutics 
Akebia Therapeutics, Inc. is a fully integrated biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease. Akebia was founded in 2007 and is headquartered in Cambridge, Massachusetts. For more information, please visit our website at www.akebia.com, which does not form a part of this release. 

About Vafseo^® (vadadustat) tablets
Vafseo^® (vadadustat) tablets is a once-daily oral hypoxia-inducible factor prolyl hydroxylase inhibitor that activates the physiologic response to hypoxia to stimulate endogenous production of erythropoietin, increasing hemoglobin and red blood cell production to manage anemia. Vafseo is approved for use in 37 countries.

INDICATION
In the Unites States, VAFSEO is indicated for the treatment of anemia due to chronic kidney disease (CKD) in adults who have been receiving dialysis for at least three months.
Limitations of Use

• VAFSEO has not been shown to improve quality of life, fatigue, or patient well-being.
• VAFSEO is not indicated for use:
  • As a substitute for red blood cell transfusions in patients who require immediate correction of anemia.
  • In patients with anemia due to CKD not on dialysis.
    
    

IMPORTANT SAFETY INFORMATION about VAFSEO (vadadustat) tablets

WARNING: INCREASED RISK OF DEATH, MYOCARDIAL INFARCTION, STROKE, VENOUS THROMBOEMBOLISM, and THROMBOSIS OF VASCULAR ACCESS.
VAFSEO increases the risk of thrombotic vascular events, including major adverse cardiovascular events (MACE).
Targeting a hemoglobin level greater than 11 g/dL is expected to further increase the risk of death and arterial and venous thrombotic events, as occurs with erythropoietin stimulating agents (ESAs), which also increase erythropoietin levels.
No trial has identified a hemoglobin target level, dose of VAFSEO, or dosing strategy that does not increase these risks.
Use the lowest dose of VAFSEO sufficient to reduce the need for red blood cell transfusions.

CONTRAINDICATIONS

• Known hypersensitivity to VAFSEO or any of its components
• Uncontrolled hypertension
  
  

WARNINGS AND PRECAUTIONS

• Increased Risk of Death, Myocardial Infarction (MI), Stroke, Venous Thromboembolism, and Thrombosis of Vascular Access
  A rise in hemoglobin (Hb) levels greater than 1 g/dL over 2 weeks can increase these risks. Avoid in patients with a history of MI, cerebrovascular event, or acute coronary syndrome within the 3 months prior to starting VAFSEO. Targeting a Hb level of greater than 11 g/dL is expected to further increase the risk of death and arterial and venous thrombotic events. Use the lowest effective dose to reduce the need for red blood cell (RBC) transfusions. Adhere to dosing and Hb monitoring recommendations to avoid excessive erythropoiesis.
  
  
• Hepatotoxicity
  Hepatocellular injury attributed to VAFSEO was reported in less than 1% of patients, including one severe case with jaundice. Elevated serum ALT, AST, and bilirubin levels were observed in 1.8%, 1.8%, and 0.3% of CKD patients treated with VAFSEO, respectively. Measure ALT, AST, and bilirubin before treatment and monthly for the first 6 months, then as clinically indicated. Discontinue VAFSEO if ALT or AST is persistently elevated or accompanied by elevated bilirubin. Not recommended in patients with cirrhosis or active, acute liver disease.
  
  
• Hypertension
  Worsening of hypertension was reported in 14% of VAFSEO and 17% of darbepoetin alfa patients. Serious worsening of hypertension was reported in 2.7% of VAFSEO and 3% of darbepoetin alfa patients. Cases of hypertensive crisis, including hypertensive encephalopathy and seizures, have also been reported in patients receiving VAFSEO. Monitor blood pressure. Adjust anti-hypertensive therapy as needed.
  
  
• Seizures
  Seizures occurred in 1.6% of VAFSEO and 1.6% of darbepoetin alfa patients. Monitor for new-onset seizures, premonitory symptoms, or change in seizure frequency.
  
  
• Gastrointestinal (GI) Erosion
  Gastric or esophageal erosions occurred in 6.4% of VAFSEO and 5.3% of darbepoetin alfa patients. Serious GI erosions, including GI bleeding and the need for RBC transfusions, were reported in 3.4% of VAFSEO and 3.3% of darbepoetin alfa patients. Consider this risk in patients at increased risk of GI erosion. Advise patients about signs of erosions and GI bleeding and urge them to seek prompt medical care if present.
  
  
• Serious Adverse Reactions in Patients with Anemia Due to CKD and Not on Dialysis
  The safety of VAFSEO has not been established for the treatment of anemia due to CKD in adults not on dialysis and its use is not recommended in this setting. In large clinical trials in adults with anemia of CKD who were not on dialysis, an increased risk of mortality, stroke, MI, serious acute kidney injury, serious hepatic injury, and serious GI erosions was observed in patients treated with VAFSEO compared to darbepoetin alfa.
  
  
• Malignancy
  VAFSEO has not been studied and is not recommended in patients with active malignancies. Malignancies were observed in 2.2% of VAFSEO and 3.0% of darbepoetin alfa patients. No evidence of increased carcinogenicity was observed in animal studies.
  
  

ADVERSE REACTIONS

• The most common adverse reactions (occurring at ≥ 10%) were hypertension and diarrhea.
  
  

DRUG INTERACTIONS

• Iron supplements and iron-containing phosphate binders: Administer VAFSEO at least 1 hour before products containing iron.
• Non-iron-containing phosphate binders: Administer VAFSEO at least 1 hour before or 2 hours after non-iron-containing phosphate binders.
• BCRP substrates: Monitor for signs of substrate adverse reactions and consider dose reduction.
• Statins: Monitor for statin-related adverse reactions. Limit the daily dose of simvastatin to 20 mg and rosuvastatin to 5 mg.
  
  

USE IN SPECIFIC POPULATIONS

• Pregnancy: May cause fetal harm.
• Lactation: Breastfeeding not recommended until two days after the final dose.
• Hepatic Impairment: Not recommended in patients with cirrhosis or active, acute liver disease.
  
  

Please note that this information is not comprehensive. Please click here for the Full Prescribing Information, including BOXED WARNING and Medication Guide.

Forward-Looking Statements
Statements in this press release regarding Akebia Therapeutics, Inc.'s ("Akebia's") strategy, plans, prospects, expectations, beliefs, intentions and goals are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, as amended, and include, but are not limited to, statements regarding: Akebia’s expectations and beliefs about demand for Vafseo in 2026, including the number of patients with access to Vafseo and that demand and depth of prescribing for Vafseo will increase in 2026; Akebia’s beliefs and expectations with respect to its financial position; Akebia’s beliefs that existing customers will accelerate adoption of Vafseo and new customers will operationalize Vafseo protocols within their organizations; Akebia’s plans to generate post-marketing Vafseo clinical data that will support its goal to make Vafseo standard of care to treat anemia due to CKD in dialysis; Akebia’s plans and expectations with respect to aggressively progressing its pipeline and leveraging its scientific leadership in nephrology with an aim to help patients in need of new therapies; Akebia’s beliefs that revenue-generating products are the engine driving advancement of its mid-stage pipeline, which, along with continued adoption of Vafseo, can drive significant shareholder value this year and beyond; Akebia’s beliefs with respect to patient dosing demand for Vafseo in Q4 2025, including impacts from a new observed dosing protocol at USRC; Akebia’s expectations with respect to Q4 2025 Vafseo net product revenue and that revenue growth will resume in Q1 2026 from increased patient access and anticipated improvement in adherence and compliance; Akebia’s plans and expectations with respect to the VOICE trial, including the timing of topline results and potential to help establish Vafseo as a standard of care to treat anemia due to CKD in dialysis; Akebia’s plans and expectations with respect to the VOCAL trial, including timing of data; Akebia’s plans to assess the use of praliciguat in other rare podocytopathies; Akebia’s plans and expectations with respect AKB-097, including the timing of initiation of, and initial data from, an open label Phase 2 basket study and the indications to be evaluated; and Akebia’s plans and expectations with respect to AKB-9090, including the timing of a Phase 1 trial.

The terms "intend," "believe," "plan," "goal," "potential," "anticipate, "estimate," "expect," "future," "will," "continue," derivatives of these words, and similar references are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results, performance or experience may differ materially from those expressed or implied by any forward-looking statement as a result of various risks, uncertainties and other factors, including, but not limited to, risks associated with: the potential therapeutic benefits, safety profile, and effectiveness of Vafseo and Akebia’s development candidates; the results of preclinical and clinical research; Akebia’s ability to initiate and enroll patients in its clinical trials; decisions made by health authorities, such as the FDA, with respect to regulatory filings and other interactions; the potential demand and market potential and acceptance of, as well as coverage and reimbursement related to, Vafseo^®, including estimates regarding the potential market opportunity; the competitive landscape for Auryxia^® and Vafseo, including generic entrants and the timing thereof; the ability of Akebia to attract and retain qualified personnel; Akebia's ability to achieve and maintain profitability and to maintain operating expenses consistent with its operating plan; manufacturing, supply chain and quality matters and any recalls, write-downs, impairments or other related consequences or potential consequences; early termination of any of Akebia's collaborations; and changes in the geopolitical environment and uncertainty surrounding U.S. trade policy on tariffs. Other risks and uncertainties include those identified under the heading "Risk Factors" in Akebia's Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, and other filings that Akebia may make with the U.S. Securities and Exchange Commission in the future. These forward-looking statements (except as otherwise noted) speak only as of the date of this press release, and, except as required by law, Akebia does not undertake, and specifically disclaims, any obligation to update any forward-looking statements contained in this press release.

Akebia Therapeutics^®, Auryxia^® and Vafseo^® are registered trademarks of Akebia Therapeutics, Inc. and its affiliates.

Akebia Therapeutics Contact 
Mercedes Carrasco 
mcarrasco@akebia.com

FAQ

What Vafseo (AKBA) prescribing access did Akebia announce for 2026?

Akebia reported prescribing access covering approximately 275,000 dialysis patients entering 2026.

When will Akebia (AKBA) report VOICE Phase IV topline results?

VOICE topline results are expected in early 2027.

How much Vafseo net product revenue did Akebia (AKBA) expect for Q4 2025?

Akebia expected Q4 2025 Vafseo net product revenue in the range of $5–$6 million.

What pipeline milestones did Akebia (AKBA) provide for 2026–2027?

Praliciguat Phase 2 first patient was dosed in Dec 2025; AKB-097 Phase 2 basket trial planned to start 2H 2026 with initial data expected in 2027.

Why did Akebia (AKBA) report lower Q4 revenue despite demand estimates of $10.5–$11.5M?

The company cited fewer patient starts and an observed dosing protocol at USRC that reduced channel inventory by $4.5–$5 million, lowering reported net revenue.