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Akebia Therapeutics

AKBA Rare disease Lead: Approved 7 Biotech Distilled articles ↓ 28 filings & releases ↓ Cash $159M (Sep 30, 2026) ↓ 7 verdicts ↓ 1 timing quote ↓
HematologyOphthalmologyRenalRespiratory ProteinSmall Molecule

Market cap $111M 277.7M shares (10-Q, Nov 2, 2026) × $0.401 close Nov 6, 2026

Most recent annual filing: 2026-02-15

Catalyst timeline

3 trackedQuarter catalyst calendar →
  1. AKB-9090 Ph1 toplineearly 2027AKB-9090 Ph1 topline, early 2027, major
  2. AKB-097 readout2027AKB-097 readout, 2027, material
  3. Term loan financingJan 1, 2027Term loan financing, Jan 1, 2027, routine

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (10 active programs)

Capital (as filed)

Cash
$159M cash and cash equivalents · Sep 30, 2026 (10-Q)
Operating cash flow
$2.3M quarter Jun 30, 2026 → Sep 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$159M cash per the update of Nov 5, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (7)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (7 calls)

Every verdict Biotech Distilled has published on Akebia Therapeutics, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-03-04 Watch Akebia (AKBA): Scientific Deep Dive for Lead and Pipeline Products Akebia is a commercial execution story with a breaching patent moat on legacy revenue and an unproven Vafseo launch; wait for mid-year sales receipts before taking a position.
  2. 2026-05-08 Speculative buy speculative UPDATE: Akebia Therapeutics (AKBA) - The Receipts Arrive Vafseo's 60% QoQ patient growth and 86% refill adherence delivered the receipts demanded, creating asymmetric upside ahead of the Q4 2026 VOCAL readout despite real dilution risk from accelerating cash burn.
  3. 2026-06-30 Buy core UPDATE: Akebia Therapeutics (AKBA) - VOICE Stops Early VOICE stopping early with a clean win odds of 1.16 on mortality-plus-hospitalization against real ESAs substantially retires the biggest scientific risk on the Vafseo franchise and improves the dilution math.
  4. 2026-08-04 Buy core UPDATE: Akebia Therapeutics (AKBA) - The Smart Bomb Gets a Name Ebribafusp Phase 2 initiation on schedule with encouraging Phase 1 PK data adds a pipeline leg to the thesis while VOICE's outcomes win remains the load-bearing wall; near-term risk is the Q2 Auryxia print.
  5. 2026-08-06 Speculative buy speculative UPDATE: Akebia Therapeutics (AKBA) - The Auryxia Curve, and a Bigger Problem in the Footnotes The post-TDAPA price reset will cause significant 2027 revenue decline even as unit volume grows, the refinancing is now the load-bearing assumption for the two-year runway, and two headcount cuts confirm the trough is real — thesis narrowed but not broken.
  6. 2026-10-15 Watch UPDATE: Akebia Therapeutics (AKBA) - The Commercial Chief Walks Before the Cliff CCO resignation eight weeks before the TDAPA cliff, sub-$1 stock price bringing Nasdaq listing risk, and unresolved refinancing make the downside now include a dilutive raise or reverse split.
  7. 2026-10-27 Watch UPDATE: Akebia Therapeutics (AKBA) - VOICE Gets Its Full Hearing Full VOICE data strengthens the clinical story with fewer hemoglobin overshoots and serious adverse events, but none of the four conditions for re-entry have been met and the balance sheet risks are unchanged.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (1 quote from 1 filing)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (28)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from May 7, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

5 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)