Akebia Therapeut SEC Filings

Akebia Therapeutics reported a Q1 2026 net loss of $9.1 million, reversing from net income of $6.1 million a year earlier, as total revenues declined to $53.5 million from $57.3 million. Product revenue was $52.0 million, with Auryxia contributing $36.2 million and Vafseo $15.8 million.

Cash and cash equivalents were $162.6 million, with total assets of $362.5 million and total liabilities of $335.1 million. Net cash used in operating activities was $21.2 million. Auryxia lost U.S. exclusivity in March 2025, and on March 11, 2026 a Teva generic was approved and has entered the market, adding new competitive pressure. Management believes current cash and expected revenues can fund the operating plan for at least twelve months from the filing date, but notes this depends on achieving anticipated Vafseo revenue.

Akebia Therapeutics reported a net loss of $9.1 million in the first quarter of 2026, reversing from net income of $6.1 million a year earlier. Total revenues were $53.5 million, down from $57.3 million, as lower Auryxia sales more than offset growth from Vafseo.

Vafseo net product revenues rose to $15.8 million from $12.0 million, helped by an approximate 60% increase in patients on therapy versus the end of Q4 2025 and about 28% more prescribers. Auryxia net product revenues declined to $36.2 million from $43.8 million, with the company expecting generic competition to expand and further reduce 2026 Auryxia revenues.

Operating costs increased as Akebia invested in its kidney disease pipeline, including Phase 2 trials for praliciguat and AKB-097 and a Phase 1 study of AKB-9090. Research and development expenses rose to $14.8 million and selling, general and administrative expenses to $30.4 million. Cash and cash equivalents were $162.6 million as of March 31, 2026, and the company expects these resources and cash from operations to fund its current operating plan for at least two years.

Akebia Therapeutics is asking stockholders to vote at its virtual 2026 annual meeting on June 17, 2026. The agenda includes electing three Class III directors, advisory votes on executive pay and the frequency of that vote, and ratifying Ernst & Young LLP as auditor for 2026.

A key proposal would amend the certificate of incorporation to increase authorized capital stock from 375,000,000 to 525,000,000 shares, and authorized common stock from 350,000,000 to 500,000,000. As of March 31, 2026, 267,898,415 common shares were outstanding and 321,611,965 shares were issued or reserved, leaving 28,388,035 unreserved. The board recommends voting in favor of all proposals and selecting "one year" for the say‑on‑pay frequency.

Akebia Therapeutics (AKBA) is soliciting proxies for its virtual 2026 Annual Meeting to be held June 17, 2026. Stockholders of record as of April 20, 2026 may vote on election of three Class III directors, an amendment to increase authorized shares, advisory votes on executive compensation and frequency, and ratification of Ernst & Young LLP as auditor.

The Board is asking stockholders to approve an amendment to increase total authorized shares from 375,000,000 to 525,000,000, and Common Stock from 350,000,000 to 500,000,000. As of March 31, 2026, 267,898,415 shares were issued and outstanding and 28,388,035 shares of Common Stock remained available for issuance.

Akebia Therapeutics director Philip J. Vickers received a grant of stock options covering 214,400 shares of common stock. The options have an exercise price of $1.41 per share and expire on April 1, 2036. This is a compensation award, not an open-market purchase.

According to the company’s 2023 Plan and its Fifth Amended and Restated Non-Employee Director Compensation Program, one third of the options will vest on the first anniversary of the grant date. The remaining two thirds will vest in equal installments on the first day of each calendar quarter thereafter, if he continues serving the company.

Akebia Therapeutics, Inc. has filed an initial insider report identifying Philip J. Vickers as a reporting person in his role as a director. The filing data show no reported transactions, no derivative positions, and no holding entries associated with him in this Form 3.

Akebia Therapeutics announced a Board change, with Steven C. Gilman, Ph.D. resigning as a Class I director effective April 1, 2026, stating his resignation is not due to any disagreement with the company. The Board elected Philip J. Vickers, Ph.D. as a new Class I director effective the same date, with an initial term running through the 2027 annual meeting of stockholders.

Dr. Vickers will serve on the Compensation Committee and the Research & Development Committee and will be compensated under Akebia’s non-employee director program. He is eligible for annual cash retainers of $50,000 for Board service, $7,500 for Compensation Committee membership, and $5,000 for Research & Development Committee membership, plus future annual equity grants of options to purchase 53,600 shares and 35,700 restricted stock units starting at the 2027 annual meeting. As a new director, he received a one-time grant of 214,400 stock options on April 1, 2026 at an exercise price of $1.41 per share.

Akebia Therapeutics Inc filing an Amendment No. 1 to a Schedule 13G/A reporting that The Vanguard Group holds 0 shares of Common Stock, representing 0% of the class. The filing notes an internal Vanguard realignment effective January 12, 2026 and is signed on 03/26/2026.