$AKBA
Akebia Therapeutics, Inc.

2016 Q4 Form 10-K Financial Statement

#000156459017003466 Filed on March 06, 2017

View on sec.gov

Income Statement

Concept 2016 Q4 2016 2015 Q4
Revenue $1.500M $1.535M $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.100M $22.21M $7.500M
YoY Change -18.67% 20.05% 114.29%
% of Gross Profit
Research & Development $33.40M $115.8M $12.50M
YoY Change 167.2% 169.17% 76.06%
% of Gross Profit
Depreciation & Amortization $130.0K $296.0K $10.00K
YoY Change 1200.0% 208.33% -50.0%
% of Gross Profit
Operating Expenses $39.58M $138.0M $20.05M
YoY Change 97.4% 124.33% 89.03%
Operating Profit -$38.04M -$136.5M -$20.05M
YoY Change 89.75% 121.84% 89.03%
Interest Expense $200.0K $901.0K $200.0K
YoY Change 0.0% 76.67% 100.0%
% of Operating Profit
Other Income/Expense, Net $182.0K -$188.0K $193.0K
YoY Change -5.7% -165.51% -18.57%
Pretax Income -$37.90M -$135.7M -$19.90M
YoY Change 90.45% 123.64% 91.35%
Income Tax
% Of Pretax Income
Net Earnings -$37.86M -$135.7M -$19.86M
YoY Change 90.67% 123.58% 91.49%
Net Earnings / Revenue -2524.13% -8843.45%
Basic Earnings Per Share
Diluted Earnings Per Share -$989.6K -$3.599M -$654.6K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q4 2016 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $252.4M $260.3M $88.85M
YoY Change 184.07% 87.94% 28.65%
Cash & Equivalents $187.3M $187.3M $49.78M
Short-Term Investments $65.07M $73.00M $39.08M
Other Short-Term Assets $2.200M $2.200M $2.600M
YoY Change -15.38% -15.38% 73.33%
Inventory
Prepaid Expenses
Receivables $33.80M $33.80M
Other Receivables $0.00 $0.00
Total Short-Term Assets $296.3M $296.3M $141.0M
YoY Change 110.12% 110.14% 27.64%
LONG-TERM ASSETS
Property, Plant & Equipment $2.600M $2.600M $540.0K
YoY Change 381.48% 420.0% 157.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.300M $1.300M $1.281M
YoY Change 1.48% -7.14% 320.0%
Total Long-Term Assets $3.900M $3.900M $1.923M
YoY Change 102.81% 105.26% 273.4%
TOTAL ASSETS
Total Short-Term Assets $296.3M $296.3M $141.0M
Total Long-Term Assets $3.900M $3.900M $1.923M
Total Assets $300.2M $300.2M $142.9M
YoY Change 110.02% 110.08% 28.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.000M $2.000M $2.313M
YoY Change -13.53% -13.04% 14.45%
Accrued Expenses $30.30M $30.30M $9.555M
YoY Change 217.11% 215.63% 96.44%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $114.3M $114.3M $11.87M
YoY Change 863.09% 860.5% 72.37%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $27.00K $117.8M $5.000K
YoY Change 440.0% 117700.0% -84.38%
Total Long-Term Liabilities $27.00K $117.8M $5.000K
YoY Change 440.0% 117700.0% -84.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $114.3M $114.3M $11.87M
Total Long-Term Liabilities $27.00K $117.8M $5.000K
Total Liabilities $232.1M $232.1M $11.94M
YoY Change 1843.53% 1850.42% 72.65%
SHAREHOLDERS EQUITY
Retained Earnings -$297.1M -$161.4M
YoY Change 84.11% 60.31%
Common Stock $365.3M $292.8M
YoY Change 24.77% 42.84%
Preferred Stock
YoY Change
Treasury Stock (at cost) $162.0K
YoY Change 0.0%
Treasury Stock Shares $0.00 $8.643K
Shareholders Equity $68.12M $68.10M $131.0M
YoY Change
Total Liabilities & Shareholders Equity $300.2M $300.2M $142.9M
YoY Change 110.03% 110.08% 28.78%

Cashflow Statement

Concept 2016 Q4 2016 2015 Q4
OPERATING ACTIVITIES
Net Income -$37.86M -$135.7M -$19.86M
YoY Change 90.67% 123.58% 91.49%
Depreciation, Depletion And Amortization $130.0K $296.0K $10.00K
YoY Change 1200.0% 208.33% -50.0%
Cash From Operating Activities $95.67M $57.91M -$22.91M
YoY Change -517.59% -210.49% 149.02%
INVESTING ACTIVITIES
Capital Expenditures -$50.00K $2.662M -$70.00K
YoY Change -28.57% 543.0% 250.0%
Acquisitions
YoY Change
Other Investing Activities $22.36M $15.37M $1.710M
YoY Change 1207.6% -215.83% -122.47%
Cash From Investing Activities $22.31M $12.71M $1.640M
YoY Change 1260.37% -192.8% -121.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.530M 66.95M 4.340M
YoY Change -18.66% -19.43% -8780.0%
NET CHANGE
Cash From Operating Activities 95.67M 57.91M -22.91M
Cash From Investing Activities 22.31M 12.71M 1.640M
Cash From Financing Activities 3.530M 66.95M 4.340M
Net Change In Cash 121.5M 137.6M -16.93M
YoY Change -817.72% 709.64% 0.3%
FREE CASH FLOW
Cash From Operating Activities $95.67M $57.91M -$22.91M
Capital Expenditures -$50.00K $2.662M -$70.00K
Free Cash Flow $95.72M $55.24M -$22.84M
YoY Change -519.09% -204.58% 148.8%

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CY2016 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: prepaid and accrued research and development expense, stock-based compensation expense, accrued expenses, revenue 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 initial public offering, 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. Prior to the Company&#8217;s initial public offering in 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. Accordingly, 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 initial public offering 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>
CY2016 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 and investments 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>
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.340
CY2015Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
2178000
CY2016Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
596000
CY2015Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
518000
CY2016Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
65071000
CY2016Q4 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
7937000
CY2016Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
73048000
CY2016Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
40000
CY2016Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
187335000
CY2016Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
260383000
CY2015Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
88910000
CY2015Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1000
CY2015Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
235000
CY2015Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
49778000
CY2015Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
138688000
CY2015Q4 akba Cash Cash Equivalents And Short Term Investments Fair Value Disclosure
CashCashEquivalentsAndShortTermInvestmentsFairValueDisclosure
138454000
CY2016Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
73008000
CY2016Q4 akba Accrued Clinical Current
AccruedClinicalCurrent
23643000
CY2015Q4 akba Accrued Clinical Current
AccruedClinicalCurrent
4536000
CY2016Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
2995000
CY2016Q4 akba Cash Cash Equivalents And Short Term Investments Fair Value Disclosure
CashCashEquivalentsAndShortTermInvestmentsFairValueDisclosure
260343000
CY2016 akba Operating Plan Sufficiently Funded By Cash Resources Period
OperatingPlanSufficientlyFundedByCashResourcesPeriod
P12M
CY2014Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
1.75
CY2016 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2016Q4 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0
CY2015Q4 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3054000
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
687000
CY2016Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
442000
CY2015Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
147000
CY2016 us-gaap Depreciation
Depreciation
295000
CY2015 us-gaap Depreciation
Depreciation
96000
CY2014 us-gaap Depreciation
Depreciation
49000
CY2016Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
539000
CY2015Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
647000
CY2016Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
513000
CY2015Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
310000
CY2016Q4 us-gaap Postemployment Benefits Liability Current
PostemploymentBenefitsLiabilityCurrent
29000
CY2016Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1946000
CY2015Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1366000
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
175000000
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.030
CY2014 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.055
CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.064
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.004
CY2014 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.006
CY2016 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.002
CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2014Q1 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
12115183
CY2014Q4 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
0
CY2016Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
5268127
CY2015Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3990093
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2206635
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1416775
CY2016 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
86625
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
388779
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3148006
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1134870
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
2805675
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.04
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
8.11
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.43
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
8.24
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.93
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
8.34
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
9.31
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y22D
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y7M21D
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y3M7D
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
13114811
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
623686
CY2016 akba Share Based Compensation Arrangement By Share Based Payment Award Options Forfeited In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeitedInPeriodIntrinsicValue
267459
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
10437947
CY2016Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
5785199
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
8759055
CY2016 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5825000
CY2015 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4714000
CY2014 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6010000
CY2016 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
CY2015 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
CY2014 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
CY2016 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2015 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2014 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.340
CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.340
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.014
CY2015 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.006
CY2014 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.016
CY2014 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.001
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.416
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.368
CY2014 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.372
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2014 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2016 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
56400000
CY2015 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
22300000
CY2016Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
45362
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
2170000
CY2015Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
912000
CY2014Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2016Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
12157000
CY2016 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2015 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2014 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2016 us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
242000
CY2016 akba Operating Lease Payments Commencement Date
OperatingLeasePaymentsCommencementDate
2017-01-01
CY2016Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
449000
CY2015Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
527000
CY2016Q4 akba Deferred Tax Assets Restricted Stock
DeferredTaxAssetsRestrictedStock
45000
CY2015Q4 akba Deferred Tax Assets Restricted Stock
DeferredTaxAssetsRestrictedStock
301000
CY2016Q4 akba Deferred Tax Assets Non Qualified Stock Options
DeferredTaxAssetsNonQualifiedStockOptions
2963000
CY2015Q4 akba Deferred Tax Assets Non Qualified Stock Options
DeferredTaxAssetsNonQualifiedStockOptions
1558000
CY2016Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
10510000
CY2015Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
1829000
CY2016Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
84372000
CY2015Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
51356000
CY2016Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
326000
CY2015Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
64000
CY2016Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
112992000
CY2015Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
56547000
CY2016Q4 us-gaap Deferred Tax Assets Valuation Allowance Noncurrent
DeferredTaxAssetsValuationAllowanceNoncurrent
112986000
CY2015Q4 us-gaap Deferred Tax Assets Valuation Allowance Noncurrent
DeferredTaxAssetsValuationAllowanceNoncurrent
56545000
CY2016Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
6000
CY2015Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
2000
CY2016Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
6000
CY2015Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
2000
CY2016Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
6000
CY2015Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
2000
CY2016Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2015Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2016Q4 us-gaap Deferred Set Up Costs Noncurrent
DeferredSetUpCostsNoncurrent
900000
CY2015Q4 us-gaap Deferred Set Up Costs Noncurrent
DeferredSetUpCostsNoncurrent
1000000
CY2016 akba Deferred Income Tax Amortization
DeferredIncomeTaxAmortization
1000000
CY2015 akba Deferred Income Tax Amortization
DeferredIncomeTaxAmortization
900000
CY2016 akba Net Operating Loss And Research And Development Tax Credit Carry Forward Expiration Year
NetOperatingLossAndResearchAndDevelopmentTaxCreditCarryForwardExpirationYear
2036
CY2016 akba Ownership Interest Rate Change Over Period
OwnershipInterestRateChangeOverPeriod
P3Y
CY2016 akba Cumulative Changes In Ownership Interest Of Shareholders
CumulativeChangesInOwnershipInterestOfShareholders
0.50
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2016Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2015Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2016Q4 us-gaap Incentive From Lessor
IncentiveFromLessor
2169920
CY2016Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
256765
CY2016Q4 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
3384
CY2016 akba Sublease Term
SubleaseTerm
P2Y
CY2016 akba Frequency Of Sublease Rent Receivable
FrequencyOfSubleaseRentReceivable
monthly
CY2016 us-gaap Operating Leases Rent Expense Sublease Rentals1
OperatingLeasesRentExpenseSubleaseRentals1
22000
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentals
514000
CY2016 akba Term For Security Deposit From Execution Of Sublease
TermForSecurityDepositFromExecutionOfSublease
P30D
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
3545000
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
3545000
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
3545000
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
3545000
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
32356000
CY2016Q4 akba Operating Leases Future Minimum Sublease Rental Income Due Current
OperatingLeasesFutureMinimumSubleaseRentalIncomeDueCurrent
257000
CY2016Q4 akba Operating Leases Future Minimum Sublease Rental Income Due In Two Years
OperatingLeasesFutureMinimumSubleaseRentalIncomeDueInTwoYears
257000
CY2016Q4 akba Operating Leases Net Future Minimum Payments Due Current
OperatingLeasesNetFutureMinimumPaymentsDueCurrent
3288000
CY2016Q4 akba Operating Leases Net Future Minimum Payments Due In Two Years
OperatingLeasesNetFutureMinimumPaymentsDueInTwoYears
3288000
CY2016Q4 akba Operating Leases Net Future Minimum Payments Due In Three Years
OperatingLeasesNetFutureMinimumPaymentsDueInThreeYears
3545000
CY2016Q4 akba Operating Leases Net Future Minimum Payments Due In Four Years
OperatingLeasesNetFutureMinimumPaymentsDueInFourYears
3545000
CY2016Q4 akba Operating Leases Net Future Minimum Payments Due In Five Years
OperatingLeasesNetFutureMinimumPaymentsDueInFiveYears
3510000
CY2016Q4 akba Operating Leases Net Future Minimum Payments Due Thereafter
OperatingLeasesNetFutureMinimumPaymentsDueThereafter
14666000
CY2016Q4 akba Operating Leases Net Future Minimum Payments Due
OperatingLeasesNetFutureMinimumPaymentsDue
31842000
CY2016Q4 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
9000
CY2016Q4 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
5000
CY2016Q4 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
14000
CY2016Q4 us-gaap Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments
CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments
14000
CY2016Q4 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
3297000
CY2016Q4 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
3293000
CY2016Q4 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
3545000
CY2016Q4 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
3545000
CY2016Q4 us-gaap Contractual Obligation Due In Fifth Year
ContractualObligationDueInFifthYear
3510000
CY2016Q4 us-gaap Contractual Obligation Due After Fifth Year
ContractualObligationDueAfterFifthYear
14666000
CY2016Q4 us-gaap Contractual Obligation
ContractualObligation
31856000
CY2016 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
2500000
CY2015 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
900000
CY2016 us-gaap Research And Development Arrangement Contract To Perform For Others Costs Incurred Gross
ResearchAndDevelopmentArrangementContractToPerformForOthersCostsIncurredGross
24900000
CY2016Q4 akba Purchase Committed Program Remaining Contract Costs
PurchaseCommittedProgramRemainingContractCosts
406400000
CY2016 akba Number Of Accounting Units
NumberOfAccountingUnits
3
CY2016 akba Cost Share Payment Received For License Agreement
CostSharePaymentReceivedForLicenseAgreement
33800000
CY2016 akba Allocated Arrangement Consideration Under License Agreement
AllocatedArrangementConsiderationUnderLicenseAgreement
265000000
CY2016Q4 us-gaap Deferred Revenue
DeferredRevenue
157300000
CY2016Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
33800000
CY2016 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
200000
CY2015 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
100000
CY2014 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0
CY2016 akba Defined Contribution Plan Employees Age To Be Eligible Under Plan
DefinedContributionPlanEmployeesAgeToBeEligibleUnderPlan
P21Y
CY2016 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3672666
CY2015 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2447776
CY2014 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1948491
CY2016Q4 us-gaap License And Services Revenue
LicenseAndServicesRevenue
1535000
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
26046000
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
36188000
CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
36182000
CY2016Q4 us-gaap Operating Expenses
OperatingExpenses
39579000
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-26046000
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-36188000
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-36182000
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-38044000
CY2016Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
248000
CY2016Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
409000
CY2016Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-126000
CY2016Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
182000
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-25798000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-35779000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-36308000
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
-37862000
CY2016Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.70
CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.95
CY2016Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.96
CY2016Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.99
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
10896000
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
10889000
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
19678000
CY2015Q4 us-gaap Operating Expenses
OperatingExpenses
20050000
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-10896000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-10889000
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-19678000
CY2015Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-20050000
CY2015Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
201000
CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
200000
CY2015Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
203000
CY2015Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
193000
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-10695000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-10689000
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-19475000
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
-19857000
CY2015Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.53
CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.40
CY2015Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.68
CY2015Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.66

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