Akebia Therapeutics, Inc. (AKBA) Stock

Akebia Therapeutics, Inc. (AKBA) is a Healthcare stock trading at $0.91 (as of 2026-08-21), with a market capitalization of $243.63M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Akebia Therapeutics, Inc., a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. The company's lead product investigational product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent adult patients. It also offers Auryxia, a ferric citrate that is used to control the serum phosphorus levels in adult patients with DD-CKD on dialysis; and the treatment of iron deficiency anemia in adult patients with CKD not on dialysis. Akebia Therapeutics, Inc. has collaboration agreements with Otsuka Pharmaceutical Co. Ltd. for the development and commercialization of vadadustat in the United States, the European Union, Russia, China, Australia, Canada, the Middle East, and other countries; and Mitsubishi Tanabe Pharma Corporation for the development and commercialization of vadadustat in Japan and other Asian countries, as well as research and license agreement with Janssen Pharmaceutica NV for the development and commercialization of hypoxia-inducible factor prolyl hydroxylase targeted compounds worldwide. The company was incorporated in 2007 and is headquartered in Cambridge, Massachusetts.

Understand Akebia Therapeutics, Inc.: how it makes money

Akebia Therapeutics develops and commercializes kidney disease treatments, including oral investigational vadadustat in Phase III, and marketed products such as Auryxia (ferric citrate) for controlling serum phosphorus in adults with DD-CKD on dialysis.

Near-term profitability depends on scaling net product revenue from marketed therapies, plus any collaboration revenue, while the biggest strategic swing factor is vadadustat progressing through Phase III development.

Revenue by segment (latest quarter)
Net Product$0.1B
Collaboration$0.0B
Vafsio$0.0B
Vapseo$0.0B
Other$0.0B

Business quality (Weak): Good clarity on the company business model and the key commercial KPI (Vafsio patients), but the provided revenue breakdown appears incomplete or overlapping across product lines, so segment interpretation should be handled cautiously.

Bull case

  • High gross margin for the period: Gross margin was 77.0% (for the period ended 2026-03-31), which means incremental revenue can potentially translate into stronger economics if operating costs are controlled.
  • Commercial execution can be tracked directly: The company provides an operating KPI for Vafsio patients on therapy (end of period), which helps investors monitor uptake and continuity of treatment.

Bear case

  • Operating losses in the latest period: Operating margin was -8.8% (for the period ended 2026-03-31), indicating costs exceeded operating profits in the most recent quarter.
  • Lead asset is still in Phase III: Vadadustat is still in Phase III development for anemia due to chronic kidney disease, so outcomes remain uncertain until clinical and regulatory milestones are completed.
  • Revenue base may be concentrated: The provided operating metrics highlight Vafsio patient therapy and Vafsio net product revenue, so changes in prescribing access, patient coverage under dialysis provider contracts, or refill behavior could materially affect sales.
Valuation — source: SEC EDGAR (first-party)
Price$0.91
Market Cap$243.63M
Price / Book9.74
Price / Sales1.13
FCF Yield-10.1%
DCF Value (model)$0.06
DCF Upside vs Price-93.4%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$236.20M
Net Margin-2.3%
Revenue Growth (YoY)47.5%
EPS Growth (YoY)-93.9%
FCF Growth (YoY)-266.4%
Financial Health — source: SEC EDGAR
Altman Z-Score-4.72 (distress)
Piotroski F-Score6/9 (moderate)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.7
Industry P/E (Pharmaceutical Products)17.2
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($25.98M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryPharmaceutical Products
CEOJohn Butler
Employees181
CountryUS
IPO Date2014-03-20

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AKBA earnings history · AKBA institutional & insider holders · AKBA KPIs & operating metrics · AKBA financials · AKBA investor presentations & press releases · AKBA SEC filings · AKBA peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.