Akebia announces late filing of Q2 earnings

Akebia has filed with the SEC a Form 12b-25 Notification of Late Filing with regard to its Quarterly Report on Form 10Q for the quarter ended June 30. Through the course of preparing its Q2financial statements, Akebia identified certain accounting errors relating to recording and reporting of return reserves for Auryxia . 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 $175M-$180M. In addition, based on its current operating plan, Akebia believes that its cash resources as of June 30 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. The 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.