Akebia Therapeutics falls on weak Q2 results

Akebia Therapeutics

25/08/2023 15:26

** Akebia Therapeutics'  AKBA.O  shares fall 8% to $1.15 
    ** The drugmaker reports Q2 loss of 6 cents per share vs.
average analysts' est. of loss of 3 cents per share - Refinitiv 
     ** Co's Q2 revenue was $56.4 mln, missing average analysts'
exp. of $59.1 mln 
    ** AKBA continues to expect 2023 sales of kidney disease
drug Auryxia to be between $175 mln-$180 mln 
    ** Says plans to resubmit its marketing application to U.S.
health regulator for anemia drug by Q3-end, with a potential
action date expected for March 2024
    ** Up to last close, stock has more than doubled YTD 

    

 (Reporting by Christy Santhosh in Bengaluru)
 ((Christy.Santhosh@thomsonreuters.com))