Akebia Therapeutics: Still Bullish On Vafseo As Auryxia's Revenues Decline

Summary

• Akebia Therapeutics is currently shifting focus from Auryxia to Vafseo due to Auryxia’s declining revenues from patent expiration.
• Vafseo is now approved for dialysis patients and leverages AKBA’s signature HIF pathway. So far, it has shown some early successes, which makes me optimistic.
• AKBA is also working on a Phase 3 trial for non‑dialysis CKD patients, which is scheduled for mid‑2025 to support a potential label expansion.
• AKBA stock remains relatively undervalued at these levels. After all, Vafseo is just starting its growth curve, and I think this is not yet reflected in its valuation.

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Akebia Therapeutics (NASDAQ:AKBA) is currently working on kidney-related diseases, mostly by using its HIF platform. As it stands now, AKBA is transitioning from relying on Auryxia to Vafseo, which is probably the biggest risk it faces today. Nevertheless, Vafseo is seeing some early successes so

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