NASDAQ$AKBA
Akebia Therapeutics Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Akebia reported fourth quarter and full-year 2022 financial results.
Akebia Therapeutics reported total revenue of $55.2 million for the fourth quarter of 2022, compared to $59.6 million for the fourth quarter of 2021. Net loss was $7.6 million for the fourth quarter of 2022, compared to $70.7 million for the fourth quarter of 2021. The company set Auryxia net product revenue guidance at $175-$180M for 2023.
- Received positive CHMP opinion for Vafseo™ (vadadustat); anticipates potential Marketing Authorization in Europe in May 2023
- Reported Auryxia® (ferric citrate) net product revenue of $177.1M for 2022, an increase of approximately 24.5% over 2021
- Set 2023 Auryxia net product revenue guidance at $175-$180M
- Ended the year delivering on strategic focus, including maximizing Auryxia revenue and supporting vadadustat globally.
Headline financials
Revenue & EPS history
Akebia · Revenue · Quarterly
$55.2M
Revenue by segment
Akebia · $55.2M total across 2 segments · Q4 2022
- Auryxia$49.7M+18.0%90.0%
- License & other revenue$5.5M-68.6%10.0%
Forward guidance
Akebia set 2023 net product revenue guidance at $175-180 million. The company believes that its cash resources will be sufficient to fund its current operating plan for at least the next twelve months.
Tailwinds
- Obtain potential Marketing Authorization for Vafseo expected in Europe in May 2023
- Receive regulatory decision for vadadustat for U.K., Switzerland and Australia
- Receive decision on appeal process related to CRL for vadadustat
- Present data from the IMPACT investigator-sponsored study evaluating the effect of Auryxia as a phosphate binder on utilization of IV iron and erythropoiesis-stimulating agents on dialysis patients
- Present data from the FOCUS study on three times weekly dosing for vadadustat in dialysis patients
Headwinds
- The phosphate binder market continues to contract modestly due to COVID-19 and dialysis staffing issues
- Auryxia revenue guidance for 2023 assumes a reduction in total units sold and inventories returning to normal levels.
- Future decisions by the FDA or other regulatory agencies related to the potential regulatory approval of vadadustat may potentially further extend our cash runway, but are not currently reflected in the operating plan.
- Akebia also plans to continue to work on initiatives to extend its revenues from Auryxia beyond the anticipated loss of exclusivity in March 2025.
- The company remains cautious about a phosphate binder market recovery
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2022
-2.5%
Avg return
Earnings day
+0.3%
Avg return
5 days after
-2.1%
Avg return
30 days after
41%
19 / 46 earnings
Positive
+34.4%
Q1 2020
Best reaction
-22.4%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -20.3% | -20.3% | -36.7% | |
| Q4 2025 | +9.9% | +0.8% | +10.7% | |
| Q3 2025 | -18.4% | -18.1% | -20.1% | |
| Q1 2025 | +6.6% | +0.8% | +61.4% | |
| Q4 2024 | -12.4% | +32.1% | -14.5% | |
| Q3 2024 | -3.0% | -2.5% | +2.5% | |
| Q2 2024 | +0.0% | +20.7% | +21.6% | |
| Q1 2024 | -13.6% | -12.1% | -24.3% | |
| Q4 2023 | +20.6% | +29.8% | +3.5% | |
| Q3 2023 | -16.5% | -15.3% | +3.7% | |
| Q2 2023 | +10.4% | +12.0% | -5.6% | |
| Q1 2023 | -3.7% | +3.7% | +17.4% | |
| Q4 2022 | -22.4% | -33.7% | -47.6% | |
| Q3 2022 | +1.9% | +2.6% | +9.0% | |
| Q2 2022 | +1.0% | +3.6% | -2.8% | |
| Q1 2022 | +11.2% | +16.6% | +15.6% | |
| Q4 2021 | +13.4% | +12.0% | -66.8% | |
| Q3 2021 | -12.3% | -14.4% | -24.6% | |
| Q2 2021 | +10.5% | +6.5% | +22.2% | |
| Q1 2021 | +2.6% | +10.6% | +17.9% | |
| Q4 2020 | -19.2% | -17.5% | -26.2% | |
| Q3 2020 | -7.4% | +0.8% | +19.8% | |
| Q2 2020 | -6.4% | -4.1% | -75.9% | |
| Q1 2020 | +34.4% | +38.3% | +40.6% | |
| Q4 2019 | -13.8% | -27.0% | -13.0% | |
| Q3 2019 | -9.6% | -8.2% | +73.5% | |
| Q2 2019 | +20.5% | +22.4% | +11.2% | |
| Q1 2019 | +1.5% | -0.7% | -26.8% | |
| Q4 2018 | -0.9% | +2.7% | -15.3% | |
| Q3 2018 | +10.3% | -4.2% | +5.0% | |
| Q2 2018 | -18.1% | -22.1% | -20.8% | |
| Q1 2018 | +0.7% | +11.0% | +10.5% | |
| Q4 2017 | -10.6% | -12.6% | -28.9% | |
| Q3 2017 | -12.6% | -12.8% | -8.5% | |
| Q2 2017 | +6.8% | +9.4% | +26.0% | |
| Q1 2017 | -2.3% | +2.2% | +8.2% | |
| Q4 2016 | -12.6% | -9.3% | -11.1% | |
| Q3 2016 | +10.6% | +14.1% | +9.9% | |
| Q2 2016 | -9.6% | -7.4% | -3.8% | |
| Q1 2016 | -8.8% | — | — | |
| Q4 2015 | -2.4% | — | — | |
| Q3 2015 | -16.6% | — | — | |
| Q2 2015 | -16.9% | — | — | |
| Q1 2015 | +3.3% | — | — | |
| Q3 2014 | -3.2% | — | — | |
| Q1 2014 | +3.7% | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — | |
| Q4 2012 | — | — | — |
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