2019 Q2 Form 10-Q Financial Statement
#000156459019017969 Filed on May 09, 2019
Income Statement
| Concept | 2019 Q2 | 2019 Q1 | 2018 Q1 |
|---|---|---|---|
| Revenue | $100.8M | $72.67M | $45.90M |
| YoY Change | 106.59% | 58.31% | 119.62% |
| Cost Of Revenue | $37.67M | $31.26M | |
| YoY Change | |||
| Gross Profit | $63.13M | $41.41M | |
| YoY Change | |||
| Gross Profit Margin | 62.63% | 56.99% | |
| Selling, General & Admin | $36.07M | $34.29M | $9.024M |
| YoY Change | 187.67% | 280.0% | 55.59% |
| % of Gross Profit | 57.13% | 82.81% | |
| Research & Development | $85.69M | $82.35M | $61.40M |
| YoY Change | 19.16% | 34.11% | 2.34% |
| % of Gross Profit | 135.73% | 198.87% | |
| Depreciation & Amortization | $600.0K | $439.0K | $199.0K |
| YoY Change | 200.0% | 120.6% | 47.41% |
| % of Gross Profit | 0.95% | 1.06% | |
| Operating Expenses | $122.7M | $117.4M | $70.43M |
| YoY Change | 45.23% | 66.66% | 6.97% |
| Operating Profit | -$59.52M | -$75.97M | -$24.50M |
| YoY Change | 66.91% | 210.1% | -45.53% |
| Interest Expense | $485.0K | $869.0K | $1.076M |
| YoY Change | -68.93% | -19.24% | 147.36% |
| % of Operating Profit | |||
| Other Income/Expense, Net | $508.0K | $791.0K | $1.080M |
| YoY Change | -68.11% | -26.76% | 151.75% |
| Pretax Income | -$59.02M | -$75.18M | -$23.42M |
| YoY Change | 73.06% | 221.03% | -47.38% |
| Income Tax | -$845.0K | -$2.757M | $0.00 |
| % Of Pretax Income | |||
| Net Earnings | -$58.17M | -$72.42M | -$23.42M |
| YoY Change | 70.74% | 209.25% | -47.43% |
| Net Earnings / Revenue | -57.71% | -99.66% | -51.02% |
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | -$492.0K | -$618.3K | -$481.5K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 117.9M | 117.1M | |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2019 Q2 | 2019 Q1 | 2018 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $136.8M | $168.0M | $349.4M |
| YoY Change | -63.03% | -51.91% | 38.77% |
| Cash & Equivalents | $87.21M | $62.74M | $158.2M |
| Short-Term Investments | $49.55M | $105.3M | $191.3M |
| Other Short-Term Assets | $28.60M | $15.60M | $8.100M |
| YoY Change | 450.0% | 92.59% | 153.13% |
| Inventory | $122.1M | $115.2M | |
| Prepaid Expenses | |||
| Receivables | $28.89M | $48.40M | $35.90M |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $316.4M | $347.2M | $437.0M |
| YoY Change | -22.34% | -20.55% | 71.31% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $10.90M | $41.90M | $3.700M |
| YoY Change | 194.68% | 1032.43% | 27.59% |
| Goodwill | $55.05M | $55.05M | |
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $100.5M | $128.1M | $2.000M |
| YoY Change | 3766.88% | 6304.15% | 53.85% |
| Total Long-Term Assets | $507.1M | $543.6M | $5.700M |
| YoY Change | 7823.94% | 9436.72% | 35.71% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $316.4M | $347.2M | $437.0M |
| Total Long-Term Assets | $507.1M | $543.6M | $5.700M |
| Total Assets | $823.5M | $890.8M | $442.7M |
| YoY Change | 99.02% | 101.22% | 70.73% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $19.32M | $15.23M | $17.90M |
| YoY Change | 302.52% | -14.94% | 18.54% |
| Accrued Expenses | $126.0M | $137.8M | $54.00M |
| YoY Change | 55.53% | 155.19% | 57.43% |
| Deferred Revenue | $40.32M | $49.58M | |
| YoY Change | -48.72% | ||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $185.6M | $202.6M | $151.4M |
| YoY Change | 12.89% | 33.83% | 13.41% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Other Long-Term Liabilities | $29.90M | $117.9M | $94.20M |
| YoY Change | -64.15% | 25.16% | -1.05% |
| Total Long-Term Liabilities | $29.90M | $117.9M | $94.20M |
| YoY Change | -64.15% | 25.16% | -1.05% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $185.6M | $202.6M | $151.4M |
| Total Long-Term Liabilities | $29.90M | $117.9M | $94.20M |
| Total Liabilities | $304.2M | $324.4M | $245.6M |
| YoY Change | 22.7% | 32.08% | 7.44% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$645.0M | ||
| YoY Change | |||
| Common Stock | $1.164B | ||
| YoY Change | 95.79% | ||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $519.4M | $566.4M | $197.1M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $823.5M | $890.8M | $442.7M |
| YoY Change | 99.02% | 101.22% | 70.73% |
Cashflow Statement
| Concept | 2019 Q2 | 2019 Q1 | 2018 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$58.17M | -$72.42M | -$23.42M |
| YoY Change | 70.74% | 209.25% | -47.43% |
| Depreciation, Depletion And Amortization | $600.0K | $439.0K | $199.0K |
| YoY Change | 200.0% | 120.6% | 47.41% |
| Cash From Operating Activities | -$38.37M | -$137.9M | -$20.33M |
| YoY Change | -526.33% | 578.45% | 113.33% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$1.980M | $1.928M | $296.0K |
| YoY Change | 1064.71% | 551.35% | -30.68% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $56.01M | $112.4M | $12.73M |
| YoY Change | -1752.21% | 782.95% | -113.86% |
| Cash From Investing Activities | $54.04M | $110.5M | $12.43M |
| YoY Change | -1617.98% | 788.48% | -113.47% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 8.810M | -14.45M | 95.91M |
| YoY Change | 4095.24% | -115.06% | 5380.63% |
| NET CHANGE | |||
| Cash From Operating Activities | -38.37M | -137.9M | -20.33M |
| Cash From Investing Activities | 54.04M | 110.5M | 12.43M |
| Cash From Financing Activities | 8.810M | -14.45M | 95.91M |
| Net Change In Cash | 24.48M | -41.90M | 88.02M |
| YoY Change | 333.27% | -147.61% | -187.94% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$38.37M | -$137.9M | -$20.33M |
| Capital Expenditures | -$1.980M | $1.928M | $296.0K |
| Free Cash Flow | -$36.39M | -$139.9M | -$20.63M |
| YoY Change | -496.84% | 578.06% | 107.15% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2019Q2 | dei |
Entity Common Stock Shares Outstanding
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|
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| CY2019Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
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|
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| CY2019Q1 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
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| CY2018Q4 | us-gaap |
Available For Sale Securities Debt Securities
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|
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Inventory Net
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Inventory Net
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Accounts Receivable Net Current
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Prepaid Expense And Other Assets Current
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15724000 | |
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Assets Current
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|
468275000 | |
| CY2018Q4 | us-gaap |
Property Plant And Equipment Net
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|
8023000 | |
| CY2019Q1 | us-gaap |
Operating Lease Right Of Use Asset
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|
32399000 | |
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Goodwill
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55053000 | |
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Goodwill
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55053000 | |
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Other Intangible Assets Net
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|
318513000 | |
| CY2018Q4 | us-gaap |
Other Intangible Assets Net
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|
328153000 | |
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Other Assets Noncurrent
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Assets
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Earnings Per Share Basic And Diluted
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|
-0.62 | |
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Earnings Per Share Basic And Diluted
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|
-0.48 | |
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Lines Of Credit Current
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15000000 | |
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Contract With Customer Liability Current
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Liabilities Current
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Deferred Rent Credit Noncurrent
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3006000 | |
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Contract With Customer Liability Noncurrent
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Contract With Customer Liability Noncurrent
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Operating Lease Liability Current
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Deferred Tax Liabilities
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Revenue From Contract With Customer Excluding Assessed Tax
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Cost Of Goods And Services Sold
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Type Of Cost Good Or Service Extensible List
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Cost Of Revenue
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Stockholders Equity
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Stock Issued During Period Value New Issues
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Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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Net Income Loss
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Research And Development Expense
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|
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Research And Development Expense
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Selling General And Administrative Expense
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License Expense
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Operating Expenses
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Interest Income Expense Nonoperating Net
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Income Tax Expense Benefit
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2232000 | |
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Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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Stockholders Equity
StockholdersEquity
|
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2252000 | |
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Net Income Loss
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|
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Stockholders Equity
StockholdersEquity
|
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|
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Stock Issued During Period Value Conversion Of Convertible Securities
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Stock Issued During Period Value Stock Options Exercised
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Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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148000 | |
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|
-60054000 | |
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|
188000 | |
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Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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|
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|
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Amortization Of Intangible Assets
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|
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Accretion Amortization Of Discounts And Premiums Investments
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Noncash Interest Expense
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|
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Operating Lease Right Of Use Asset Amortization
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Increase Decrease In Accounts Payable
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|
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Increase Decrease In Operating Lease Liabilities
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Fair Value Write Up Of Inventory Sold
FairValueWriteUpOfInventorySold
|
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Inventory Write Down
InventoryWriteDown
|
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Share Based Compensation
ShareBasedCompensation
|
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Share Based Compensation
ShareBasedCompensation
|
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Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
31769000 | |
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Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
1496000 | |
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Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
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Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
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Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-6218000 | |
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Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-9391000 | |
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Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
|
-41000 | |
| CY2019Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
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|
-137929000 | |
| CY2018Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
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|
-20330000 | |
| CY2019Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1928000 | |
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Payments To Acquire Property Plant And Equipment
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|
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Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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Proceeds From Sale Of Available For Sale Securities Debt
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Proceeds From Sale Of Available For Sale Securities Debt
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Payments To Acquire Available For Sale Securities Debt
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|
48599000 | |
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Net Cash Provided By Used In Investing Activities
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|
110473000 | |
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Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
12434000 | |
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Proceeds From Issuance Of Common Stock Net Of Issuance Costs
ProceedsFromIssuanceOfCommonStockNetOfIssuanceCosts
|
95511000 | |
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Proceeds From Stock Plans
ProceedsFromStockPlans
|
188000 | |
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Proceeds From Stock Plans
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218000 | |
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Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
365000 | |
| CY2018Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
183000 | |
| CY2019Q1 | us-gaap |
Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
|
15000000 | |
| CY2018Q1 | us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
1000 | |
| CY2019Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-14447000 | |
| CY2018Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
95911000 | |
| CY2019Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-41903000 | |
| CY2018Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
88015000 | |
| CY2018Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
107099000 | |
| CY2017Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
71437000 | |
| CY2019Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
65196000 | |
| CY2018Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
159452000 | |
| CY2018Q1 | akba |
Deferred Follow On Offering Issuance Costs
DeferredFollowOnOfferingIssuanceCosts
|
95000 | |
| CY2019Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="Background-color:#FFFFFF;">1. Nature of Organization and Operations</font></p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Akebia Therapeutics, Inc., referred to as Akebia or the Company, was incorporated in the State of Delaware in 2007. <font style="Background-color:#FFFFFF;color:#000000;">Akebia is a biopharmaceutical company focused on the development and commercialization of therapeutics for patients with kidney disease. Akebia’s commercial product, Auryxia<sup style="font-size:85%; vertical-align:top">®</sup> (ferric citrate) is currently approved by the United States Food and Drug Administration, or FDA, and marketed for two indications in the United States, or the U.S., the control of serum phosphorus levels in adult patients with chronic kidney disease, or CKD, on dialysis, or DD-CKD, and the treatment of iron deficiency anemia, or IDA, in adult patients with CKD not on dialysis, or NDD-CKD. </font>Ferric citrate is also approved and marketed in Japan as an oral treatment for the improvement of hyperphosphatemia in patients with DD-CKD and NDD-CKD under the trade name Riona<sup style="font-size:85%; vertical-align:top">®</sup> (ferric citrate hydrate) and is approved, but not currently marketed, in the European Union as an oral treatment for the control of hyperphosphatemia in adult patients with DD-CKD and NDD-CKD under the trade name Fexeric<sup style="font-size:85%; vertical-align:top">®</sup><sup style="font-size:85%; vertical-align:top"> </sup>(ferric citrate). <font style="Background-color:#FFFFFF;color:#000000;">The Company’s lead investigational product candidate, vadadustat, is an oral therapy in Phase 3 development for two indications: anemia due to CKD in adult patients with DD-CKD and anemia due to CKD in adult patients with NDD-CKD. The Company believes vadadustat has the potential to set a new standard of care in the treatment of anemia due to CKD, acting via a novel hypoxia inducible factor, or HIF, pathway. HIF is the primary regulator of the production of red blood cells, or RBCs, in the body, as well as other important metabolic functions.</font></p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="Background-color:#FFFFFF;">On December 12, 2018, the Company completed a merger with Keryx Biopharmaceuticals, Inc., or Keryx, or the Merger. Pursuant to the terms and conditions of the Agreement and Plan of Merger, or the Merger Agreement, each share of Keryx common stock, or Keryx Share, issued and outstanding immediately prior to the effective time of the Merger, or the Effective Time, was cancelled and converted into 0.37433, or the Exchange Multiplier, fully paid and non-assessable shares of Akebia common stock, or Akebia Shares, resulting in the issuance of an aggregate of 59,270,410 Akebia Shares. The Merger Agreement also provided that at the Effective Time, each Keryx restricted share award, to the extent outstanding, other than those Keryx restricted share awards that accelerated or lapsed as a result of the completion of the Merger, converted into an Akebia restricted stock unit, or RSU, award covering the number of Akebia Shares determined in accordance with the Exchange Multiplier, resulting in the issuance of Akebia RSUs covering an aggregate of 602,752 Akebia Shares. In addition, each outstanding and unexercised option to acquire Keryx Shares converted into an option to acquire Akebia Shares, with the number of shares and exercise price adjusted by the Exchange Multiplier, resulting in the assumption by Akebia of options to acquire an aggregate 3,967,290 Akebia Shares</font>. </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Since inception, the Company has devoted most of its resources to research and development, including its preclinical and clinical development activities, raising capital, and providing general and administrative support for these operations. The Company began recording revenue from the U.S. sales of Auryxia and revenue from sublicensing rights to Auryxia in Japan to the Company’s Japanese partners <font style="Background-color:#FFFFFF;color:#000000;">Japan Tobacco, Inc. and its subsidiary Torii Pharmaceutical Co., Ltd., collectively, JT and Torii,</font> on December 12, 2018. The Company has not generated a profit to date and may never generate profits from product sales. The Company’s product candidates are subject to long development cycles, and the Company may be unsuccessful in its efforts to develop, obtain marketing approval for or market its product candidates.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Management of the Company completed its going concern assessment in accordance with ASC 205-40. The Company believes that its cash resources will be sufficient to allow the Company to fund its current operating plans through at least the next twelve months from the filing of the Company’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2019, as required by ASC 205-40. There can be no assurance, however, that the current operating plan will be achieved in the time frame anticipated by the Company, or that its cash resources will fund the Company’s operating plan for the period anticipated by the Company or that additional funding will be available on terms acceptable to the Company, or at all. </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;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 will require additional capital for the further commercialization of Auryxia and continued development and potential commercialization of the Company’s existing product candidates and would need to raise additional funds to pursue development activities related to any additional product candidates. If and until the Company can generate a sufficient amount of product revenue, the Company expects to finance future cash needs through public or private equity or debt offerings, payments from its collaborators, strategic transactions, or a combination of these approaches.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;"> </p> | |
| CY2019Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-top:6pt;margin-bottom:0pt;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, operating lease assets and liabilities, other non-current liabilities, stock-based compensation expense, product and collaboration revenues including various rebates and reserves related to product sales, inventories, income taxes, intangible assets and goodwill. </p> | |
| CY2019Q1 | us-gaap |
Depreciation
Depreciation
|
400000 | |
| CY2019Q1 | akba |
Operating Plan Sufficiently Funded By Cash Resources Period
OperatingPlanSufficientlyFundedByCashResourcesPeriod
|
P12M | |
| CY2019Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | |
| CY2018Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
158171000 | |
| CY2019Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
11909000 | |
| CY2018Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
9981000 | |
| CY2019Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
2397000 | |
| CY2018Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1958000 | |
| CY2018Q1 | us-gaap |
Depreciation
Depreciation
|
200000 | |
| CY2018Q4 | us-gaap |
Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
|
23737000 | |
| CY2019Q1 | us-gaap |
Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
|
19832000 | |
| CY2019Q1 | akba |
Valuation Allowances And Reserves Adjustments Related To Prior Period Sales
ValuationAllowancesAndReservesAdjustmentsRelatedToPriorPeriodSales
|
156000 | |
| CY2019Q1 | us-gaap |
Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
|
5229000 | |
| CY2019Q1 | akba |
Valuation Allowances And Reserves Deductions Related To Prior Period Sales
ValuationAllowancesAndReservesDeductionsRelatedToPriorPeriodSales
|
14514000 | |
| CY2019Q1 | us-gaap |
Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
|
23982000 | |
| CY2019Q1 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
106471000 | |
| CY2019Q1 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
45179000 | |
| CY2018Q1 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
40845000 | |
| CY2019Q1 | us-gaap |
Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
|
1254000 | |
| CY2019Q1 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
105333000 | |
| CY2019Q1 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
22000 | |
| CY2019Q1 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
58000 | |
| CY2019Q1 | us-gaap |
Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
|
62741000 | |
| CY2019Q1 | akba |
Cash Cash Equivalents And Short Term Investments Amortized Cost
CashCashEquivalentsAndShortTermInvestmentsAmortizedCost
|
168074000 | |
| CY2019Q1 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
168038000 | |
| CY2018Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
217257000 | |
| CY2018Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
1000 | |
| CY2018Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
262000 | |
| CY2018Q4 | us-gaap |
Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
|
104644000 | |
| CY2018Q4 | akba |
Cash Cash Equivalents And Short Term Investments Amortized Cost
CashCashEquivalentsAndShortTermInvestmentsAmortizedCost
|
321901000 | |
| CY2018Q4 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
321640000 | |
| CY2019Q1 | us-gaap |
Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
|
105297000 | |
| CY2019Q1 | us-gaap |
Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
|
0 | |
| CY2018Q1 | us-gaap |
Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
|
0 | |
| CY2019Q1 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
|
8000 | |
| CY2019Q1 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
|
25741000 | |
| CY2019Q1 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
|
50000 | |
| CY2019Q1 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
|
39793000 | |
| CY2019Q1 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
|
58000 | |
| CY2019Q1 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
|
65534000 | |
| CY2018Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
|
223000 | |
| CY2018Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
|
174456000 | |
| CY2018Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
|
39000 | |
| CY2018Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
|
29934000 | |
| CY2018Q4 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
|
262000 | |
| CY2018Q4 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
|
204390000 | |
| CY2019Q1 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
|
16 | |
| CY2018Q4 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
|
51 | |
| CY2019Q1 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
1744000 | |
| CY2018Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
1880000 | |
| CY2019Q1 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
198961000 | |
| CY2018Q4 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
215122000 | |
| CY2019Q1 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
27900000 | |
| CY2018Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
18182000 | |
| CY2018Q4 | akba |
Inventory Net Current And Non Current
InventoryNetCurrentAndNonCurrent
|
235184000 | |
| CY2019Q1 | us-gaap |
Inventory Noncurrent
InventoryNoncurrent
|
113399000 | |
| CY2018Q4 | us-gaap |
Inventory Noncurrent
InventoryNoncurrent
|
120939000 | |
| CY2018Q1 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
0 | |
| CY2018Q4 | us-gaap |
Inventory Net
InventoryNet
|
0 | |
| CY2019Q1 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
329675000 | |
| CY2019Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
10622000 | |
| CY2019Q1 | akba |
Inventory Net Current And Non Current
InventoryNetCurrentAndNonCurrent
|
228605000 | |
| CY2019Q1 | akba |
Finite Lived Intangible Assets Adoption Adjustment
FiniteLivedIntangibleAssetsAdoptionAdjustment
|
-540000 | |
| CY2018Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2232000 | |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Existence Of Residual Value Guarantee
LesseeOperatingLeaseExistenceOfResidualValueGuarantee
|
false | |
| CY2019Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1700000 | |
| CY2019Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
1700000 | |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Residual Value Guarantee Description
LesseeOperatingLeaseResidualValueGuaranteeDescription
|
The lease agreements do not contain residual value guarantees. | |
| CY2019Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
318513000 | |
| CY2018Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
329675000 | |
| CY2018Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
1522000 | |
| CY2018Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
328153000 | |
| CY2019Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
27301000 | |
| CY2019Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
36402000 | |
| CY2019Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
36401000 | |
| CY2019Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
36402000 | |
| CY2019Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
36401000 | |
| CY2019Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
|
145606000 | |
| CY2019Q1 | us-gaap |
Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
|
527754000 | |
| CY2019Q1 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
|
-472701000 | |
| CY2019Q1 | akba |
Accrued Clinical Expenses Current
AccruedClinicalExpensesCurrent
|
76437000 | |
| CY2018Q4 | akba |
Accrued Clinical Expenses Current
AccruedClinicalExpensesCurrent
|
71881000 | |
| CY2019Q1 | akba |
Accrued Product Revenue Allowances Current
AccruedProductRevenueAllowancesCurrent
|
22606000 | |
| CY2018Q4 | akba |
Accrued Product Revenue Allowances Current
AccruedProductRevenueAllowancesCurrent
|
22861000 | |
| CY2019Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
4623000 | |
| CY2018Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
2367000 | |
| CY2019Q1 | akba |
Accrued Lease Liability Current
AccruedLeaseLiabilityCurrent
|
4677000 | |
| CY2019Q1 | us-gaap |
Accrued Bonuses Current
AccruedBonusesCurrent
|
4215000 | |
| CY2018Q4 | us-gaap |
Accrued Bonuses Current
AccruedBonusesCurrent
|
9537000 | |
| CY2019Q1 | akba |
Accrued Commercial Manufacturing Current
AccruedCommercialManufacturingCurrent
|
3118000 | |
| CY2018Q4 | akba |
Accrued Commercial Manufacturing Current
AccruedCommercialManufacturingCurrent
|
6383000 | |
| CY2019Q1 | us-gaap |
Accrued Royalties Current
AccruedRoyaltiesCurrent
|
2114000 | |
| CY2018Q4 | us-gaap |
Accrued Royalties Current
AccruedRoyaltiesCurrent
|
2430000 | |
| CY2019Q1 | us-gaap |
Accrued Vacation Current
AccruedVacationCurrent
|
1058000 | |
| CY2018Q4 | us-gaap |
Accrued Vacation Current
AccruedVacationCurrent
|
1088000 | |
| CY2019Q1 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
1024000 | |
| CY2018Q4 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
2255000 | |
| CY2019Q1 | akba |
Accrued Merger Costs Current
AccruedMergerCostsCurrent
|
799000 | |
| CY2018Q4 | akba |
Accrued Merger Costs Current
AccruedMergerCostsCurrent
|
16071000 | |
| CY2019Q1 | us-gaap |
Postemployment Benefits Liability Current
PostemploymentBenefitsLiabilityCurrent
|
202000 | |
| CY2018Q4 | us-gaap |
Postemployment Benefits Liability Current
PostemploymentBenefitsLiabilityCurrent
|
3962000 | |
| CY2019Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
16930000 | |
| CY2018Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
12082000 | |
| CY2019Q1 | us-gaap |
Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
|
40000000 | |
| CY2019Q1 | us-gaap |
Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
|
20800000 | |
| CY2018Q4 | us-gaap |
Line Of Credit
LineOfCredit
|
15000000 | |
| CY2019Q1 | us-gaap |
Line Of Credit
LineOfCredit
|
0 | |
| CY2019Q1 | us-gaap |
Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
|
21420889 | |
| CY2018Q4 | us-gaap |
Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
|
14948900 | |
| CY2019Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2094000 | |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
5192000 | |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
7008000 | |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
7064000 | |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
6735000 | |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
|
5347000 | |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
|
13934000 | |
| CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
|
5347000 | |
| CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
|
13934000 | |
| CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
46865000 | |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
45280000 | |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
9299000 | |
| CY2019Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
35981000 | |
| CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
6777000 | |
| CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
7008000 | |
| CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
7064000 | |
| CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
|
6735000 | |
| CY2019Q1 | akba |
Purchase Committed Program Remaining Contract Costs
PurchaseCommittedProgramRemainingContractCosts
|
143100000 | |
| CY2019Q1 | us-gaap |
Research And Development Arrangement Contract To Perform For Others Costs Incurred Gross
ResearchAndDevelopmentArrangementContractToPerformForOthersCostsIncurredGross
|
71900000 | |
| CY2019Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
12830125 | |
| CY2018Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
5531704 | |
| CY2019Q1 | akba |
Supply Agreement Description
SupplyAgreementDescription
|
The Esteve Supply Agreement has an initial term of four years, beginning April 9, 2019 and ending April 9, 2023. The Esteve Supply Agreement may be extended by mutual agreement of the Company and Esteve. The Esteve Supply Agreement allows the Company to terminate the relationship within one hundred and eighty (180) days’ written notice for any reason, or by either party in the event of a material breach. The Esteve Supply Agreement includes customary terms relating to, among others, indemnification, intellectual property protection, confidentiality, remedies, warranties, as well as certain quality requirements. |
