Every 10-Q that Akebia Therapeutics, Inc. (AKBA) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow AKBA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full AKBA filings page.
Akebia Therapeutics, Inc. reported for the quarter ended June 30, 2026 total revenues of $49.1 million, compared with $62.5 million a year earlier, including product revenue of $46.8 million. Higher research and development, selling, general and administrative, and restructuring costs lifted total operating expenses to $45.0 million, resulting in a loss from operations of $6.3 million. After interest and other items, Akebia recorded a net loss of $8.9 million, or $0.03 per basic and diluted share, versus modest net income in the prior-year quarter.
As of June 30, 2026, the company held $155.5 million in cash and cash equivalents and total assets of $349.7 million, against total liabilities of $324.6 million, including a $49.6 million senior secured term loan and substantial royalty-related liabilities tied to Vafseo and Auryxia. Stockholders’ equity was $25.0 million. Akebia markets Vafseo for anemia due to chronic kidney disease and Auryxia for CKD-related indications; Auryxia lost U.S. exclusivity in March 2025, and a Teva generic entered in March 2026. Management expects existing cash and anticipated product, royalty, supply and license revenues to fund its current operating plan for at least twelve months, while acknowledging that refinancing its term loan and achieving projected Vafseo revenues are important to longer-term liquidity and that additional financing or strategic transactions may be pursued.
Akebia Therapeutics reported a Q1 2026 net loss of $9.1 million, reversing from net income of $6.1 million a year earlier, as total revenues declined to $53.5 million from $57.3 million. Product revenue was $52.0 million, with Auryxia contributing $36.2 million and Vafseo $15.8 million.
Cash and cash equivalents were $162.6 million, with total assets of $362.5 million and total liabilities of $335.1 million. Net cash used in operating activities was $21.2 million. Auryxia lost U.S. exclusivity in March 2025, and on March 11, 2026 a Teva generic was approved and has entered the market, adding new competitive pressure. Management believes current cash and expected revenues can fund the operating plan for at least twelve months from the filing date, but notes this depends on achieving anticipated Vafseo revenue.
Akebia Therapeutics reported Q3 2025 results showing higher revenue and a small profit. Total revenue was $58.8 million versus $37.4 million a year ago, driven by product revenue of $56.8 million. Net income was $0.5 million for the quarter; for the nine months, net income was $6.9 million versus a $46.6 million loss last year.
Cash and cash equivalents were $166.4 million as of September 30, 2025. Total assets were $364.2 million and stockholders’ equity improved to $41.6 million from a deficit at year-end 2024. The company launched Vafseo in the U.S. in January 2025, while Auryxia lost U.S. exclusivity in March 2025, with generic competition noted as an ongoing risk.
Akebia’s BlackRock term loan bears interest at SOFR (1‑month) plus 6.75% (all-in capped at 15.00%), with interest-only payments through December 31, 2026 and covenants requiring either a $15.0 million minimum cash balance in controlled accounts or $150.0 million of trailing twelve‑month revenue.