Akebia Therapeutics Reports 43% Revenue Growth to $62.5 Million for Q2 2025

Akebia Therapeutics Inc. (NASDAQ: AKBA), a biopharmaceutical company focused on kidney disease therapeutics, reported its financial results for the quarter ended June 30, 2025. The company's total revenues for the quarter were $62.5 million, a 43% increase compared to $43.6 million for the same period in 2024. This growth was primarily driven by a 47% increase in product revenue, which reached $60.5 million, up from $41.2 million in the prior year, due to the market entry of Vafseo and increased sales volumes of Auryxia. License, collaboration, and other revenue decreased by 18% to $2.0 million, compared to $2.4 million in the same quarter of the previous year.

The company's cost of goods sold decreased by 42% to $9.9 million, compared to $17.0 million for the three months ended June 30, 2024, primarily due to the full amortization of intangible assets related to Auryxia as of December 31, 2024. Operating expenses increased by 9% to $38.5 million, compared to $35.3 million in the prior year, with research and development expenses increasing by 44% to $11.0 million, while selling, general, and administrative expenses saw a slight decrease of 1% to $26.6 million. Akebia reported income from operations of $14.1 million, a significant turnaround from the $8.7 million loss in the same period last year. Net income for the quarter was $0.2 million, or $0.00 per share on both a basic and diluted basis, compared to a net loss of $8.6 million, or $0.04 per share, in the second quarter of 2024.

Akebia's strategic developments included the continued commercialization of Vafseo, which entered the U.S. market in January 2025, and ongoing efforts to pursue label expansion opportunities. The company is planning to initiate a Phase 3 cardiovascular outcome study (VALOR) for Vafseo in non-dialysis patients by the end of 2025. Auryxia, which lost exclusivity in the U.S. in March 2025, continues to be marketed, with an authorized generic version now available through Mylan Therapeutics. The company also issued 1,408,588 shares to the Warrant Holder under the Initial Warrant on July 23, 2025, as a result of the cashless exercise.

Operationally, Akebia reported that it has commercial supply agreements in place with dialysis organizations caring for nearly 100% of dialysis patients in the U.S. As of June 30, 2025, the company had cash and cash equivalents of $137.3 million. Akebia believes its cash resources and expected revenues will be sufficient to fund its current operating plan for at least the next twelve months. The company may also seek additional financing through equity sales, debt transactions, or strategic collaborations. As of August 4, 2025, the number of shares outstanding of Akebia's common stock was 265,145,038.