Akebia Therapeutics falls on announcement of late second-quarter results

Akebia Therapeutics

11/08/2023 16:52

** Shares of drugmaker Akebia Therapeutics Inc  AKBA.O  fall
8.84% to $1.34
    ** Co notified the U.S. Securities and Exchange Commission
that it will be late in filing its Q2 earnings and Form 10-Q
    ** Says through the course of preparing its financial
statements for the second quarter, co identified certain
accounting errors relating to its kidney disease drug, Auryxia
    ** Says it does not currently anticipate that the correction
of the accounting errors will impact co's previously issued 2023
Auryxia net product revenue forecast of $175 million-180 million
    ** Continues to expect to resubmit its application for
vadadustat as a treatment for anemia due to chronic kidney
disease in adult patients on dialysis by the end of this
quarter 
    ** Stock up ~138% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))