Akebia Therapeutics, Inc.

For the period ended Dec 31, 2025. Filed Feb 26, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 26, 2026

AKBA$0.54+1.7%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Operations and Comprehensive Loss

	Years Ended December 31,
(dollars in thousands, except per share amounts)	2025	2024	2023
Revenues:
Product revenue, net	$227,332	$152,180	$170,301
License, collaboration and other revenue	8,864	8,000	24,322
Total revenues	236,196	160,180	194,623
Cost of goods sold:
Cost of product and other revenue	39,462	27,135	38,107
Amortization of intangible asset	—	36,042	36,042
Total cost of goods sold	39,462	63,177	74,149
Operating expenses:
Research and development	62,359	37,652	63,079
Selling, general and administrative	107,480	106,545	100,233
License	3,396	3,220	3,237
Restructuring	—	58	181
Total operating expenses	173,235	147,475	166,730
Income (loss) from operations	23,499	(50,472)	(46,256)
Other income (expense):
Interest expense	(24,179)	(18,185)	(6,032)
Other income	58	94	887
Change in fair value of warrant liability	(3,099)	(330)	—
Loss on extinguishment of debt	—	(517)	—
Loss on termination of lease	—	—	(524)
Loss before income taxes	(3,721)	(69,410)	(51,925)
Income tax expense	(1,624)	—	—
Net loss	$(5,345)	$(69,410)	$(51,925)
Comprehensive loss	$(5,345)	$(69,410)	$(51,925)
Net loss per share:
Basic and diluted	$(0.02)	$(0.33)	$(0.28)
Weighted average number of common shares outstanding:
Basic and diluted	257,157,782	210,946,658	187,465,448

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.