Revenue Update on Akebia Therapeutics Inc(NASDAQ:AKBA)

Akebia Therapeutics Inc(NASDAQ:AKBA) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Company reported revenue of $0.00. Analysts estimated a revenue of $11.30M. Earnings per share were $-0.95. Analysts had estimated an EPS of $-0.57.

Akebia Therapeutics Inc (AKBA) shares turned negative on Wednesdays trading session with the shares closing down -0.1 points or -1.25% at a volume of 1,13,472. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $8. The peak price level was also seen at $8 while the days lowest was $7.86. Finally the shares closed at $7.9. The 52-week high of the shares is $14.2 while the 52-week low is $5.91. According to the latest information available, the market cap of the company is $300 M.

Several Insider Transactions has been reported to the SEC. On Jul 6, 2016, Michel Dahan (SVP, Chief Business Officer) sold 1,402 shares at $7.47 per share price.Also, On Jul 6, 2016, Nicole R. Hadas (SVP, General Counsel, Sec.) sold 1,557 shares at $7.47 per share price.On Oct 5, 2015, Duane Nash (director) sold 996 shares at $8.65 per share price, according to the Form-4 filing with the securities and exchange commission.

Akebia Therapeutics Inc. is a biopharmaceutical company. The Company is focused on the development of therapeutics based on hypoxia inducible factor (HIF) biology and the commercialization of these products for patients with kidney disease. The Company’s lead product candidate AKB-6548 is being developed as a once-daily oral therapy. It has completed a Phase IIb study demonstrating that AKB-6548 can raise hemoglobin levels in non-dialysis patients with anemia related to chronic kidney disease (CKD). The Company is also conducting a Phase II study for the treatment of anemia in patients undergoing dialysis. The Company’s preclinical candidate AKB-6899 is a small molecule with minor structural differences from its lead compound AKB-6548. AKB-6899 is being developed for the treatment of certain cancers.

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