Akebia reports Q1 EPS 3c vs (9c) last year

Reports Q1 revenue $57.336M, consensus $44.53M. “We are tremendously encouraged by the early progress of the Vafseo launch, having generated $12.0 million in net product revenues in the first quarter. We believe the early success reflects the excitement among physicians of having an alternative treatment for anemia available for their dialysis patients,” said John Butler, Chief Executive Officer of Akebia (AKBA). “We believe the introduction of Vafseo is one of the strongest drug launches into the dialysis market in many years, certainly since the adoption of transitional drug add-on payment adjustment reimbursement, and we continue to believe that Vafseo could be a new standard of care for the treatment of anemia due to chronic kidney disease. Initial usage as expected is in the small and mid-sized dialysis providers and we look forward to continuing to drive adoption across all dialysis providers, large and small.”