- Akebia Therapeutics (NASDAQ:AKBA) posted Q4 2020 results that beat analyst expectations on revenue but missed on EPS.
- Total revenue in the quarter was $56.7M compared to $69.6M in the prior-year period, an 18.5% decline.
- The company's net loss year over year narrowed to 60 cents per share from 79 cents.
- Total operating expenses declined to $78.9M from $126.3M
- Akebia, which is focused on kidney disease treatments, today also announced a $60M non-dilutive transaction with an entity managed by HealthCare Royalty Management LLC to monetize its rights to receive royalties and sales milestones on Vafseo (vadadustat) net sales under its collaboration agreement with Mitsubishi Tanabe Pharma Corp.
- The deal calls for Akebia to receive $45M in cash and an additional $15M if sales milestones are met.
- Akebia shares are down 9.1% to $3.89 in premarket trading.
Akebia shares slide following disappointing Q4 results
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Symbol | Last Price | % Chg |
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AKBA | - | - |
Akebia Therapeutics, Inc. |