Akebia Therapeutics, Inc.
AKBA evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for AKBA—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · AKBA
Akebia Therapeutics is a fully integrated biopharmaceutical company with two commercial kidney-disease products and a pipeline of mid- and early-stage programs targeting rare kidney diseases and other indications [sec · filed 2026-04-28].
Key risk: Ongoing net losses
BioSniper Score
Based on 6 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 4 pipeline candidates · 5 clinical trials · 2 catalysts for Akebia Therapeutics, Inc..
Akebia Therapeutics is a fully integrated biopharmaceutical company with two commercial kidney-disease products and a pipeline of mid- and early-stage programs targeting rare kidney diseases and other indications [sec · filed 2026-04-28].
- Akebia is a fully integrated biopharmaceutical company with two commercial products for patients impacted by kidney disease [sec · filed 2026-04-28].
- As of 2026-06-30, the company reported cash & equivalents of $157.3M, total revenue of $49.1M, net income of -$8.9M, shareholders' equity of $32.6M, and total debt of $74.4M [sec].
- Mid-stage pipeline assets include praliciguat and ebribafusp for IgA Nephropathy, C3 Glomerulopathy, and Lupus Nephritis [sec_mda · as of 2026-08-05].
- Early-stage pipeline includes AKB-9090 (Phase 1 for cardiac surgery-related acute kidney injury, first patient dosed April 2026) and AKB-10108 (preclinical for retinopathy of prematurity) [sec · filed 2026-04-28].
- The company's 2025 corporate goals included commercial targets for Vafseo and Auryxia product revenue and Vafseo lifecycle management (data generation & label expansion) [sec · filed 2026-04-28].
What works
- Two approved, marketed products (Vafseo, Auryxia) provide ongoing net product revenue to support pipeline development [sec · filed 2026-04-28].
- Mid-stage pipeline targets three rare kidney diseases (IgA Nephropathy, C3 Glomerulopathy, Lupus Nephritis) with significant unmet need [sec_mda · as of 2026-08-05].
- Early-stage HIF molecules (AKB-9090, AKB-10108) expand into acute care and neonatal indications, diversifying beyond chronic kidney disease [sec · filed 2026-04-28].
What to weigh
- The company reported a net loss of -$8.9M for the six months ended 2026-06-30, indicating ongoing unprofitability [sec].
- Total debt of $74.4M as of 2026-06-30 exceeds shareholders' equity of $32.6M, reflecting a leveraged balance sheet [sec].
- Early-stage pipeline assets (AKB-9090, AKB-10108) are in Phase 1 or preclinical stages, with no guarantee of clinical or regulatory success [sec · filed 2026-04-28].
- Patent/exclusivity expiry for AURYXIA in 2030-07-21 and VAFSEO in 2036-03-31 could eventually expose revenue to generic competition [catalyst_timeline].
From the filings
Quoted directly from source documents.
Akebia is a fully integrated biopharmaceutical company with two commercial products for kidney disease.
“We are a fully integrated biopharmaceutical company with two commercial products for patients impacted by kidney disease.”
SEC filings · April 28, 2026
Mid-stage pipeline targets IgA Nephropathy, C3 Glomerulopathy, and Lupus Nephritis.
“the following indications: IgA Nephropathy; C3 Glomerulopathy; and Lupus Nephritis.”
SEC filings · April 28, 2026
AKB-9090 Phase 1 study in healthy volunteers dosed first patient in April 2026.
“we dosed the first patient in a Phase 1 study in healthy volunteers in April 2026.”
SEC filings · April 28, 2026
Catalyst timeline
- 2030-07-21 · Patent_Expiry · AURYXIA — Patent/exclusivity expiry for AURYXIA; could allow generic competition and reduce product revenue.
- 2036-03-31 · Patent_Expiry · VAFSEO — Patent/exclusivity expiry for VAFSEO; long-term revenue protection until this date.
Risks & what to watch (4)›
Key risks
- Ongoing net losses — Net loss of $8.9M for six months ended 2026-06-30; no timeline to profitability [sec].
- High debt leverage — Total debt $74.4M exceeds shareholders' equity $32.6M as of 2026-06-30 [sec].
- Early-stage pipeline uncertainty — AKB-9090 (Phase 1) and AKB-10108 (preclinical) face clinical and regulatory risks [sec · filed 2026-04-28].
- Patent expiry for AURYXIA — AURYXIA patent/exclusivity expires 2030-07-21, potentially opening to generic competition [catalyst_timeline].
What to watch
- Commercial uptake of Vafseo and Auryxia, including revenue trends and dialysis organization adoption [sec · filed 2026-04-28].
- Progress of mid-stage pipeline (praliciguat, ebribafusp) in rare kidney disease trials [sec_mda · as of 2026-08-05].
- Phase 1 data readout for AKB-9090 in cardiac surgery-related acute kidney injury [sec · filed 2026-04-28].
- Cash burn rate and potential need for additional financing given net losses and debt levels [sec].
Sources: SEC filings · SEC MD&A · Generated August 24, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
Profitable (positive operating cash flow)
D/E 12.98 · 0% dilution
Lead: Approved
4 candidates
2 upcoming, next in ~1421d
1 buy · 1 sell (180d)
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
170
Total value held
$150.8M
| Holder | Shares | Value |
|---|---|---|
| vanguard capital management llc | 22,333,420 | $31.0M |
| blackrock, inc. | 18,693,296 | $26.0M |
| state street corp | 11,614,006 | $16.1M |
| geode capital management, llc | 6,452,252 | $9.0M |
| goldman sachs group inc | 3,602,827 | $5.0M |
| citigroup inc | 2,854,586 | $4.0M |
| bank of america corp /de/ | 2,763,362 | $3.8M |
| millennium management llc | 2,384,713 | $3.3M |
| vanguard portfolio management llc | 2,215,441 | $3.1M |
| charles schwab investment management inc | 2,015,577 | $2.8M |
Showing top 10 of 170 institutional holders of Akebia Therapeutics, Inc.. Open the full 13F history after sign-in.
Short Interest
as of Apr 20, 2026- % of float
- 9.9%
- Days to cover
- 9.3
- Shares short
- 26,266,098
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
AKBA short interestGovernance
Frequently asked questions
What is the AI investment thesis for Akebia Therapeutics, Inc.?
Akebia Therapeutics is a fully integrated biopharmaceutical company with two commercial kidney-disease products and a pipeline of mid- and early-stage programs targeting rare kidney diseases and other indications [sec · filed 2026-04-28].
What is Akebia Therapeutics, Inc.'s lead drug candidate?
Akebia Therapeutics, Inc.'s most advanced tracked candidate is AKB-097 (Phase 2) for Planned evaluation in complement-mediated kidney diseases including C3 Glomerulopathy (C3G), IgA Nephropathy (IgAN) and Lupus Nephritis (LN)..
What is Akebia Therapeutics, Inc.'s next catalyst?
Akebia Therapeutics, Inc.'s next tracked catalyst is a Patent_Expiry event — "Patent/Exclusivity Expiry: AURYXIA" — expected July 21, 2030.
Who is the CEO of Akebia Therapeutics, Inc.?
Mr. John P. Butler MBA is the chief executive officer of Akebia Therapeutics, Inc. (AKBA).
Where is Akebia Therapeutics, Inc. headquartered?
Akebia Therapeutics, Inc. (AKBA) is headquartered in Cambridge, MA, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.