$AKBA
Akebia Therapeutics, Inc.

2014 Q4 Form 10-K Financial Statement

#000156459015001260 Filed on March 04, 2015

View on sec.gov

Income Statement

Concept 2014 Q4 2014 2013 Q4
Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.500M $12.50M $3.000M
YoY Change 16.67% 140.38% 130.77%
% of Gross Profit
Research & Development $7.100M $23.26M $3.200M
YoY Change 121.88% 161.32% 433.33%
% of Gross Profit
Depreciation & Amortization $20.00K $49.00K $0.00
YoY Change 4800.0%
% of Gross Profit
Operating Expenses $10.61M $37.94M $6.201M
YoY Change 71.05% 138.12% 226.37%
Operating Profit -$10.61M -$37.94M -$6.201M
YoY Change 71.05% 138.12%
Interest Expense $100.0K $200.0K $0.00
YoY Change -128.57% -100.0%
% of Operating Profit
Other Income/Expense, Net $237.0K $700.0K $254.0K
YoY Change -6.69% -30.0% -15.33%
Pretax Income -$10.40M -$37.00M -$5.900M
YoY Change 76.27% 180.3% 145.83%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$10.37M -$37.03M -$5.947M
YoY Change 74.37% 181.26% 147.79%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$522.6K -$2.403M -$322.4K
COMMON SHARES
Basic Shares Outstanding 20.34M
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q4 2014 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $69.06M $108.9M $32.60M
YoY Change 111.85% 234.05% 1937.5%
Cash & Equivalents $32.78M $32.80M $21.22M
Short-Term Investments $36.28M $76.10M $11.30M
Other Short-Term Assets $1.500M $1.500M $700.0K
YoY Change 114.29% 114.29% 40.0%
Inventory
Prepaid Expenses
Receivables $48.00K $0.00 $135.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $110.5M $110.5M $33.43M
YoY Change 230.47% 230.84% 1419.59%
LONG-TERM ASSETS
Property, Plant & Equipment $210.0K $200.0K $30.37K
YoY Change 591.56%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $305.0K $300.0K $125.0K
YoY Change 144.0% -75.0%
Total Long-Term Assets $515.0K $500.0K $1.234M
YoY Change -58.27% -61.54%
TOTAL ASSETS
Total Short-Term Assets $110.5M $110.5M $33.43M
Total Long-Term Assets $515.0K $500.0K $1.234M
Total Assets $111.0M $111.0M $34.67M
YoY Change 220.19% 219.88% 1475.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.021M $2.000M $714.0K
YoY Change 183.05% 185.71% 78.5%
Accrued Expenses $4.864M $4.900M $3.188M
YoY Change 52.58% 53.13% 696.94%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $6.885M $6.900M $3.902M
YoY Change 76.45% 76.92% -20.37%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $32.00K $0.00 $8.000K
YoY Change 300.0%
Total Long-Term Liabilities $32.00K $0.00 $8.000K
YoY Change 300.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.885M $6.900M $3.902M
Total Long-Term Liabilities $32.00K $0.00 $8.000K
Total Liabilities $6.917M $6.900M $3.910M
YoY Change 76.91% 76.92% -20.2%
SHAREHOLDERS EQUITY
Retained Earnings -$100.7M -$127.1M
YoY Change -20.77%
Common Stock $205.0M $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $162.0K
YoY Change
Treasury Stock Shares $8.463K $2.553K
Shareholders Equity $104.1M $104.1M -$127.1M
YoY Change
Total Liabilities & Shareholders Equity $111.0M $111.0M $34.67M
YoY Change 220.19% 219.88% 1475.68%

Cashflow Statement

Concept 2014 Q4 2014 2013 Q4
OPERATING ACTIVITIES
Net Income -$10.37M -$37.03M -$5.947M
YoY Change 74.37% 181.26% 147.79%
Depreciation, Depletion And Amortization $20.00K $49.00K $0.00
YoY Change 4800.0%
Cash From Operating Activities -$9.200M -$27.48M -$4.910M
YoY Change 87.37% 142.54% 149.24%
INVESTING ACTIVITIES
Capital Expenditures -$20.00K $229.0K -$10.00K
YoY Change 100.0% 1105.26%
Acquisitions
YoY Change
Other Investing Activities -$7.610M -$65.12M $1.750M
YoY Change -534.86% 471.23%
Cash From Investing Activities -$7.630M -$65.35M $1.740M
YoY Change -538.51% 472.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$104.2M
YoY Change -2083420.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -50.00K 104.4M -220.0K
YoY Change -77.27% 146.63%
NET CHANGE
Cash From Operating Activities -9.200M -27.48M -4.910M
Cash From Investing Activities -7.630M -65.35M 1.740M
Cash From Financing Activities -50.00K 104.4M -220.0K
Net Change In Cash -16.88M 11.57M -3.390M
YoY Change 397.94% -40.91% 72.08%
FREE CASH FLOW
Cash From Operating Activities -$9.200M -$27.48M -$4.910M
Capital Expenditures -$20.00K $229.0K -$10.00K
Free Cash Flow -$9.180M -$27.71M -$4.900M
YoY Change 87.35% 144.15% 148.73%

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CY2014 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates. Management considers many factors in selecting appropriate financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including: expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes, and management must select an amount that falls within that range of reasonable estimates. Estimates are used in the following areas, among others: stock-based compensation expense, fair value of common stock and preferred stock and the Company&#8217;s other equity instruments (in periods prior to the IPO), accrued expenses, prepaid expenses and income taxes. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Prior to the IPO, the Company utilized significant estimates and assumptions in determining the fair value of its common stock. The Company granted stock options at exercise prices not less than the fair market value of its common stock as determined by the Board of Directors contemporaneously at the date such grants were made, with input from management. For periods prior to March&#160;2014, the fair value of common stock at the grant date was adjusted in connection with the Company&#8217;s retrospective fair value assessment for financial reporting purposes. Prior to the Company&#8217;s IPO, the Board of Directors determined the estimated fair value of the Company&#8217;s common stock based on a number of objective and subjective factors, including external market conditions affecting the biotechnology industry sector and the prices at which the Company sold shares of preferred stock, the superior rights and preferences of securities senior to the Company&#8217;s common stock at the time and the likelihood of achieving a liquidity event, such as an IPO or sale of the Company. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company utilized various valuation methodologies in accordance with the framework of the American Institute of Certified Public Accountants Technical Practice Aid, <font style="font-style:italic;">Valuation of Privately-Held Company Equity Securities Issued as Compensation</font>, to estimate the fair value of its common stock in periods prior to March&#160;2014. The methodologies included a probability analysis including both a potential public trading scenario and potential sale scenario. In both scenarios, value is estimated using the guideline public company method. The sale scenario includes an adjustment for a market participant acquisition premium. Value is allocated among the preferred and common shares according to the rights associated with each type of security. Valuation methodologies include estimates and assumptions that require the Company&#8217;s judgment. These estimates include assumptions regarding future performance, including the successful completion of a public offering. Significant changes to the key assumptions used in the valuations could result in different fair values of common stock at each valuation date. </p></div>
CY2014 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Concentrations of Credit Risk and Off-Balance Sheet Risk </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Cash, investments and accounts receivable are the only financial instruments that potentially subject the Company to concentrations of credit risk. The Company maintains its cash with high quality, accredited financial institutions and, accordingly, such funds are subject to minimal credit risk. The Company has no significant off-balance sheet concentrations of credit risk, such as foreign currency exchange contracts, option contracts or other hedging arrangements. </p></div>
CY2013Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
2472
CY2013Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
11341241
CY2013Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
21215228
CY2013Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
32553997
CY2013Q4 akba Cash Cash Equivalents And Short Term Investments Fair Value Disclosure
CashCashEquivalentsAndShortTermInvestmentsFairValueDisclosure
32556469
CY2014Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
108918147
CY2014Q4 akba Cash Cash Equivalents And Short Term Investments Fair Value Disclosure
CashCashEquivalentsAndShortTermInvestmentsFairValueDisclosure
108918147
CY2014Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
1.75
CY2014 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2007-02-27
CY2014Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
175000000
CY2014Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000
CY2014Q1 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
86899555
CY2014 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2014Q4 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0
CY2013Q4 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0
CY2014 us-gaap Revenues
Revenues
0
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
260573
CY2013Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
31648
CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
50645
CY2013Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1282
CY2012 us-gaap Depreciation
Depreciation
0
CY2014 us-gaap Conversion Of Stock Description
ConversionOfStockDescription
The Aerpio shares were then distributed to the Company’s shareholders as a distribution on the basis of one share of Aerpio Series A Preferred Stock for every 35 shares of Akebia Series A Preferred Stock owned, one share of Aerpio Series A Preferred Stock for every 100 shares of Akebia Series B Preferred Stock owned, and one share of Aerpio Common Stock for every 175 shares of Akebia Common Stock owned.
CY2014Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
76194392
CY2014Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
3864
CY2014Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
60222
CY2014Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
76138034
CY2014Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
32780113
CY2014Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
108974505
CY2014Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
36283628
CY2014Q4 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
39854406
CY2013Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
11338769
CY2013Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
32556469
CY2014Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2459308
CY2013Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2452067
CY2014Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
1286127
CY2013Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
439435
CY2014Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
177162
CY2013Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
109921
CY2014Q4 us-gaap Postemployment Benefits Liability Current
PostemploymentBenefitsLiabilityCurrent
178819
CY2014Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
213224
CY2014Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
549145
CY2013Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
186338
CY2014Q1 us-gaap Severance Costs1
SeveranceCosts1
323685
CY2014 us-gaap Payments For Restructuring
PaymentsForRestructuring
271000
CY2013Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
17916817
CY2014Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
1588897
CY2013Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
1821403
CY2014Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
30558915
CY2014Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
479283
CY2013Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
24371
CY2014Q4 us-gaap Deferred Tax Assets Valuation Allowance Noncurrent
DeferredTaxAssetsValuationAllowanceNoncurrent
33668487
CY2013Q4 us-gaap Deferred Tax Assets Valuation Allowance Noncurrent
DeferredTaxAssetsValuationAllowanceNoncurrent
20446542
CY2013Q4 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
-81167
CY2013Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
108481
CY2014 akba Severance Agreement Description
SeveranceAgreementDescription
In August 2014, the Company entered into a separation agreement with an employee, which became effective on August 13, 2014. The Company will record the expense and liability associated with the separation agreement ratably over the period from August 5, 2014 through December 31, 2015 because the severance payments are subject to continued service and forfeiture until December 31, 2015. During the year ended 2014, the Company recorded severance expense in the amount of $118,852, which was recorded to research and development expense and will be paid out beginning January 2015 through December 2015
CY2014 us-gaap Severance Costs1
SeveranceCosts1
118852
CY2014Q4 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
0
CY2014Q1 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
12115183
CY2014Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3075500
CY2013Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
13628787
CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.340
CY2013 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.340
CY2014 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.055
CY2013 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.008
CY2014 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.006
CY2013 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.042
CY2014 akba Effective Income Tax Rate Reconciliation Nondeductible Expense Disqualified Interest Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDisqualifiedInterestExpense
0.000
CY2013 akba Effective Income Tax Rate Reconciliation Nondeductible Expense Disqualified Interest Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDisqualifiedInterestExpense
-0.019
CY2014 akba Effective Income Tax Rate Reconciliation Cancellation Of Debt Income
EffectiveIncomeTaxRateReconciliationCancellationOfDebtIncome
0.000
CY2013 akba Effective Income Tax Rate Reconciliation Cancellation Of Debt Income
EffectiveIncomeTaxRateReconciliationCancellationOfDebtIncome
0.062
CY2014 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.016
CY2013 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.026
CY2014 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
-0.001
CY2013 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.000
CY2014 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.372
CY2013 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.407
CY2014 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2013 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2014Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
558935
CY2013Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
189648
CY2014Q4 us-gaap Deferred Tax Assets Valuation Allowance Current
DeferredTaxAssetsValuationAllowanceCurrent
558935
CY2013Q4 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
189648
CY2014Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
603644
CY2013Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
602784
CY2014Q4 akba Deferred Tax Assets Restricted Stock
DeferredTaxAssetsRestrictedStock
436058
CY2014Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
1690
CY2013Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
925
CY2013Q4 akba Deferred Tax Liabilities Restricted Stock
DeferredTaxLiabilitiesRestrictedStock
107556
CY2013Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
108481
CY2014Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2013Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2014Q4 us-gaap Deferred Set Up Costs Noncurrent
DeferredSetUpCostsNoncurrent
1181000
CY2013Q4 us-gaap Deferred Set Up Costs Noncurrent
DeferredSetUpCostsNoncurrent
1312000
CY2014 akba Deferred Income Tax Amortization
DeferredIncomeTaxAmortization
788000
CY2013 akba Deferred Income Tax Amortization
DeferredIncomeTaxAmortization
656000
CY2014Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
84200000
CY2013Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
51630000
CY2014 akba Net Operating Loss And Research And Development Tax Credit Carry Forward Expiration Year
NetOperatingLossAndResearchAndDevelopmentTaxCreditCarryForwardExpirationYear
2027
CY2014 akba Ownership Interest Rate Change Over Period
OwnershipInterestRateChangeOverPeriod
P3Y
CY2014 akba Cumulative Changes In Ownership Interest Of Shareholders
CumulativeChangesInOwnershipInterestOfShareholders
0.50
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2014Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2014 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2013Q4 us-gaap Lessee Leasing Arrangements Operating Leases Term Of Contract
LesseeLeasingArrangementsOperatingLeasesTermOfContract
P3Y
CY2013Q4 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
6837
CY2013Q4 us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
31000
CY2013Q4 us-gaap Incentive From Lessor
IncentiveFromLessor
31000
CY2013Q4 akba Lease Commencement Period
LeaseCommencementPeriod
2014-01
CY2013Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
125345
CY2013 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
0
CY2014 us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
32000
CY2014 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2016-12-31
CY2014 akba Capital Lease Term
CapitalLeaseTerm
P3Y
CY2014 akba Capital Lease Commencement Date
CapitalLeaseCommencementDate
2014-02
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
875479
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
935629
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1811108
CY2014Q4 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
4200
CY2014Q4 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
4200
CY2014Q4 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
250
CY2014Q4 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
8650
CY2014Q4 us-gaap Capital Leases Future Minimum Payments Interest Included In Payments
CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments
297
CY2014Q4 us-gaap Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments
CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments
8353
CY2014Q4 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
879679
CY2014Q4 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
939829
CY2014Q4 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
250
CY2014Q4 us-gaap Contractual Obligation
ContractualObligation
1819758
CY2014 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
377578
CY2014 us-gaap Research And Development Arrangement Contract To Perform For Others Costs Incurred Gross
ResearchAndDevelopmentArrangementContractToPerformForOthersCostsIncurredGross
4312081
CY2013 us-gaap Research And Development Arrangement Contract To Perform For Others Costs Incurred Gross
ResearchAndDevelopmentArrangementContractToPerformForOthersCostsIncurredGross
4477081
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
3075500
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1549154
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1251401
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
514814
CY2014 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
116394
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
123472
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1526349
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
455130
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1281733
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
22.53
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.76
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
9.93
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.57
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.81
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
8.85
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y5M12D
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y4D
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P9Y11D
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
8020065
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1991922
CY2014 akba Share Based Compensation Arrangement By Share Based Payment Award Options Forfeited In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeitedInPeriodIntrinsicValue
330223
CY2014Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-10607000
CY2014Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
212000
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
-9697000
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
-7618000
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-7840000
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-9584000
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
11523531
CY2014Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
4931055
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
8886570
CY2014Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
8653037
CY2014 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y2M9D
CY2014 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0
CY2014 akba Defined Contribution Plan Employees Age To Be Eligible Under Plan
DefinedContributionPlanEmployeesAgeToBeEligibleUnderPlan
21
CY2014 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1948491
CY2013 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13883239
CY2014 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-56358
CY2014 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-56358
CY2013Q1 us-gaap Operating Expenses
OperatingExpenses
2577000
CY2013Q2 us-gaap Operating Expenses
OperatingExpenses
3121000
CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
4034000
CY2013Q4 us-gaap Operating Expenses
OperatingExpenses
6201000
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-2577000
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-3121000
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-4034000
CY2013Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-6201000
CY2013Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1956000
CY2013Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
290000
CY2013Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
266000
CY2013Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
254000
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
-621000
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
-2831000
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
-3768000
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
-5947000
CY2013Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-3.09
CY2013Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-103.19
CY2013Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-11.92
CY2013Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-13.92
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
9909000
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
7840000
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
9584000
CY2014Q4 us-gaap Operating Expenses
OperatingExpenses
10607000
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-9909000
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
222000
CY2014Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
236000
CY2014Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
237000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
-9348000
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
-10370000
CY2014Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-43.37
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.39
CY2014Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.47
CY2014Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.52

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