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Akebia Therapeutics Provides Update on Form 10-Q Filing
Akebia announces late filing of its second quarter earnings and Form 10-QAkebia reaffirms 2023 net product revenue guidance of $175 - $180 millionAkebia
About this update from Akebia Therapeutics, Inc.
[{"type":"text","content":"Akebia announces late filing of its second quarter earnings and Form 10-QAkebia reaffirms 2023 net product revenue guidance of $175 - $180 millionAkebia believes its cash resources as of June 30, 2023 will be sufficient to fund its current operating plan through at least the next twelve monthsAkebia expects to resubmit NDA for vadadustat as a treatment for anemia due to CKD in adult patients on dialysis in Q3 2023CAMBRIDGE, Mass., Aug. 10, 2023 /PRNewswire/ -- Akebia Therapeutics®, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, today announced that it has filed with the U.S. Securities and Exchange Commission (SEC) a Form 12b-25 Notification of Late Filing with regard to its Quarterly Report on Form 10Q for the quarter ended June 30, 2023. \n\n \n \n \n \n \n \n\n \nThrough the course of preparing its financial statements for the second quarter, Akebia identified certain accounting errors relating to recording and reporting of return reserves for Auryxia® (ferric citrate). Akebia does not currently anticipate that the correction of the accounting errors will impact Akebia's previously issued 2023 Auryxia net product revenue guidance of $175-180 million. In addition, based on its current operating plan, Akebia believes that its cash resources as of June 30, 2023 and revenues from Auryxia will be sufficient to allow Akebia to fund its current operating plan through at least the next twelve months from the date of this filing. \nThe delay in filing will not affect Akebia's ability to serve existing or new patients. Akebia continues to expect to resubmit its New Drug Application for vadadustat as a treatment for anemia due to chronic kidney disease in adult patients on dialysis by the end of this quarter. \nAbout Akebia TherapeuticsAkebia Therapeutics, Inc. is a fully integrated biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease. Akebia was founded in 2007 and is headquartered in Cambridge, Massachusetts. For more information, please visit our website at www.akebia.com, which does not form a part of this release.\nAbout VadadustatVadadustat is an oral hypoxia-inducible factor prolyl hydroxylase inhibitor designed to mimic the physiologic effect of altitude on oxygen availability. At higher altitudes, the body...