2022 Q4 Form 10-Q Financial Statement

#000162828022028242 Filed on November 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $55.18M $48.96M
YoY Change -7.42% 0.43%
Cost Of Revenue -$11.25M $37.95M
YoY Change -126.56% 138.0%
Gross Profit $66.43M $11.02M
YoY Change 285.43% -66.42%
Gross Profit Margin 120.39% 22.5%
Selling, General & Admin $30.65M $30.92M
YoY Change -31.63% -33.3%
% of Gross Profit 46.13% 280.64%
Research & Development $31.90M $27.35M
YoY Change 7.94% -32.42%
% of Gross Profit 48.02% 248.25%
Depreciation & Amortization $9.419M $9.424M
YoY Change -0.36% -0.63%
% of Gross Profit 14.18% 85.54%
Operating Expenses $71.56M $59.19M
YoY Change -14.19% -32.51%
Operating Profit -$5.128M -$48.17M
YoY Change -92.25% -12.23%
Interest Expense -$1.636M -$3.952M
YoY Change -67.81% -22.28%
% of Operating Profit
Other Income/Expense, Net $434.0K $1.167M
YoY Change -22.5% 173.3%
Pretax Income -$7.552M -$51.87M
YoY Change -89.31% -12.9%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$7.552M -$51.87M
YoY Change -89.31% -12.9%
Net Earnings / Revenue -13.69% -105.92%
Basic Earnings Per Share -$0.28
Diluted Earnings Per Share -$0.04 -$0.28
COMMON SHARES
Basic Shares Outstanding 184.0M shares 183.8M shares
Diluted Shares Outstanding 183.9M shares

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $90.47M $144.8M
YoY Change -39.61% -30.14%
Cash & Equivalents $90.47M $144.8M
Short-Term Investments
Other Short-Term Assets $33.54M $29.62M
YoY Change 1.21% -25.02%
Inventory $21.76M $40.04M
Prepaid Expenses $15.60M
Receivables $39.18M $23.09M
Other Receivables $0.00 $0.00
Total Short-Term Assets $184.9M $237.5M
YoY Change -32.01% -28.04%
LONG-TERM ASSETS
Property, Plant & Equipment $5.214M $5.622M
YoY Change -22.8% -21.87%
Goodwill $55.10M $55.10M
YoY Change 0.0% 0.0%
Intangibles $72.08M
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.372M $26.28M
YoY Change -89.2% -62.25%
Total Long-Term Assets $166.9M $198.4M
YoY Change -34.18% -27.11%
TOTAL ASSETS
Total Short-Term Assets $184.9M $237.5M
Total Long-Term Assets $166.9M $198.4M
Total Assets $351.8M $435.9M
YoY Change -33.05% -27.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.02M $19.71M
YoY Change -46.35% -31.59%
Accrued Expenses $71.00M $87.36M
YoY Change -32.03% -39.63%
Deferred Revenue $3.738M $1.265M
YoY Change -82.12% -91.94%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $32.00M $65.95M
YoY Change -67.19%
Total Short-Term Liabilities $124.8M $188.0M
YoY Change -51.36% -0.66%
LONG-TERM LIABILITIES
Long-Term Debt $34.08M $0.00
YoY Change -100.0%
Other Long-Term Liabilities $12.16M $74.31M
YoY Change -85.26% -3.98%
Total Long-Term Liabilities $46.24M $74.31M
YoY Change -43.97% -57.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $124.8M $188.0M
Total Long-Term Liabilities $46.24M $74.31M
Total Liabilities $342.5M $422.0M
YoY Change -23.74% -9.26%
SHAREHOLDERS EQUITY
Retained Earnings -$1.553B -$1.545B
YoY Change 6.34% 11.2%
Common Stock $1.562B $1.559B
YoY Change 1.66% 2.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.342M $13.85M
YoY Change
Total Liabilities & Shareholders Equity $351.8M $435.9M
YoY Change -33.05% -27.62%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income -$7.552M -$51.87M
YoY Change -89.31% -12.9%
Depreciation, Depletion And Amortization $9.419M $9.424M
YoY Change -0.36% -0.63%
Cash From Operating Activities -$54.68M $33.81M
YoY Change -12.94% -160.08%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.000K -32.94M
YoY Change -100.02% -299.84%
NET CHANGE
Cash From Operating Activities -54.68M 33.81M
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities -1.000K -32.94M
Net Change In Cash -54.68M 868.0K
YoY Change -4.75% -102.18%
FREE CASH FLOW
Cash From Operating Activities -$54.68M $33.81M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$54.68M $33.81M
YoY Change -12.94% -160.08%

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Nature of Organization and Operations<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Akebia Therapeutics, Inc., referred to as Akebia or the Company, was incorporated in the State of Delaware in 2007. Akebia is a biopharmaceutical company with the purpose of bettering the lives of people impacted by kidney disease. The Company has one commercial product, Auryxia</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:112%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> (ferric citrate), which is approved by the U.S. Food and Drug Administration, or FDA, and marketed for two indications in the United States: 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. Ferric citrate is also approved and marketed in Japan as an oral treatment for IDA in adult patients for the improvement of hyperphosphatemia in such patients with DD-CKD and NDD-CKD under the trade name Riona (ferric citrate hydrate).</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Vadadustat, the Company’s lead investigational product candidate, is an investigational oral hypoxia-inducible factor prolyl hydroxylase, or HIF-PH, inhibitor designed to mimic the physiologic effect of altitude on oxygen availability. On March 29, 2022, the Company received a complete response letter, or CRL, from the FDA. The CRL provided that the FDA had completed its review of the Company's new drug application, or NDA, for vadadustat for the treatment of anemia due to CKD in adult patients and had determined that it could not approve the NDA in its present form. In July 2022, the Company held an end of review meeting with the FDA to inform the Company's next steps with respect to the potential U.S. approval of vadadustat, if any, and in October 2022, the Company submitted a Formal Dispute Resolution Request, or FDRR, with the FDA. The FDRR focuses on the favorable balance between the benefits and risks of vadadustat for the treatment of anemia due to CKD in adult patients on dialysis in light of safety concerns expressed by the FDA in the CRL related to the rate of adjudicated thromboembolic events driven by vascular access thrombosis for vadadustat compared to the active comparator and the risk of drug-induced liver injury.</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On May 12, 2022, the Company received notice from its former collaboration partner, Otsuka Pharmaceutical Co. Ltd., or Otsuka, that Otsuka had elected to terminate the Collaboration and License Agreement dated December 18, 2016, or the Otsuka U.S. Agreement, and the Collaboration and License Agreement dated April 25, 2017, or the Otsuka International Agreement. On June 30, 2022, the Company and Otsuka entered into a Termination and Settlement Agreement, or the Termination Agreement, pursuant to which, among other things, the Company and Otsuka agreed to terminate the Otsuka U.S. Agreement and the Otsuka International Agreement as of June 30, 2022 (see Note 4 for further details). In October 2021, Otsuka submitted a Marketing Authorization Application, or MAA, for vadadustat for the treatment of anemia due to CKD in adult patients with DD-CKD and NDD-CKD to the European Medicines Agency, or EMA</span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> In connection with the Termination Agreement, Otsuka transferred the MAA for vadadustat with the EMA to the Company. Vadadustat is approved in Japan as a treatment for anemia due to CKD in both DD-CKD and NDD-CKD patients under the trade name Vafseo</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:112%;position:relative;top:-3.5pt;vertical-align:baseline">TM</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:112%;position:relative;top:-3.5pt;vertical-align:baseline"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">and marketed and sold in Japan by Mitsubishi Tanabe Pharma Corporation, or MTPC.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In addition, the Company continues to explore additional development opportunities to expand its pipeline and portfolio of novel therapeutics. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Since inception, the Company has devoted most of its resources to research and development, including its preclinical and clinical development activities, commercializing Auryxia, 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 from the Company’s Japanese partners, Japan Tobacco, Inc. and its subsidiary Torii Pharmaceutical Co., Ltd., collectively JT and Torii, in December 2018. Additionally, following regulatory approval of vadadustat in Japan, the Company began recognizing royalty revenues from MTPC from the sale of Vafseo in August 2020. In February 2021, the Company entered into a royalty interest acquisition agreement with HealthCare Royalty Partners IV, L.P., or HCR, or the Royalty Agreement, whereby the Company sold its right to receive royalties and sales milestones under its Collaboration Agreement with MTPC, or the MTPC Agreement, subject to certain caps and other terms and conditions (see Note 6 for additional information). The Company has not generated a profit to date, and may never generate profits, from product sales. Vadadustat and the Company’s other potential 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 vadadustat and its other potential product candidates. If the Company does not successfully commercialize Auryxia, vadadustat, if approved, or any other potential product candidate, it may be unable to achieve profitability.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Going Concern</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Company’s management completed its going concern assessment in accordance with Accounting Standards Codification, or ASC, 205-40, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">, or ASC 205-40. Pursuant to the requirements of ASC 205-40, the Company’s management must evaluate whether there are conditions or events, </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date the financial statements are issued. This evaluation initially does not take into consideration the potential mitigating effect of management’s plans that have not been fully implemented as of the date the financial statements are issued. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">When substantial doubt exists under this methodology, the Company’s management evaluates whether the mitigating effect of its plans sufficiently alleviates substantial doubt about the Company’s ability to continue as a going concern. The mitigating effect of the Company’s plans, however, is only considered if both (1) it is probable that the plans will be effectively implemented within one year after the date that the financial statements are issued and (2) it is probable that the plans, when implemented, will mitigate the relevant conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:107%">As of September 30, 2022, the Company had cash and cash equivalents of approximately $144.8 million. The Company believes that its cash resources will be sufficient to allow the Company to fund its current operating plan through at least the next twelve months from the filing of this Quarterly Report on Form 10-Q. However, the Company's operating plan includes assumptions pertaining to cost avoidance measures and the reduction of overhead costs that would result from the planned amendment of contractual arrangements with certain supply and collaboration partners, and the reduction of operating expenses. Therefore, because these cost avoidance measures and certain other elements of the Company's operating plan are outside of its control, including the planned amendment of contractual arrangements with certain supply and collaboration partners, and the reduction of operating expenses, there is uncertainty as to whether the Company's cash resources will be adequate to support its operations for a period through at least the next twelve months from the date of issuance of these financial statements. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In addition, on July 15, 2022, or the Effective Date, the Company entered into the Second Amendment and Waiver with BioPharma Credit PLC, or the Collateral Agent, BPCR Limited Partnership, as a Lender, and BioPharma Credit Investments V (Master) LP, as a Lender, or the Second Amendment and Waiver, which amends and waives certain provisions of the loan agreement entered on November 11, 2019, between the Company, with Keryx Biopharmaceuticals, Inc., or Keryx, as guarantor, and the Collateral Agent, as collateral agent and a lender, and BioPharma Credit Investments V (Master) LP as a lender, or the Loan Agreement, as amended by the First Amendment and Waiver among the Collateral Agent, the Lenders and the Company, dated February 18, 2022, or the First Amendment and Waiver. The Collateral Agent and the Lenders are collectively referred to as Pharmakon (see Note 11). Pursuant to the Second Amendment and Waiver, on the Effective Date, the Company made prepayments totaling $25.0 million together with a prepayment premium of $0.5 million plus all accrued and unpaid interest on such prepayments of principal to the Effective Date, and Pharmakon agreed to waive or modify certain covenants in the Loan Agreement (see Note 11). If an event of default occurs and is continuing under the Loan Agreement, the Collateral Agent is entitled to take enforcement action, including acceleration of amounts due under the Loan Agreement, which the Company may not have the available cash resources to repay at such time. For example, pursuant to covenants in the Loan Agreement, the Company's Annual Reports on Form 10-K must not be subject to any qualification as a going concern. If any of the Company's future Annual Reports on Form 10-K is subject to any qualification related to going concern, it will result in an event of default under the Loan Agreement. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:107%">These conditions raise substantial doubt regarding the Company’s ability to continue as a going concern for a period of one year after the date the financial statements are issued. Management’s plans to alleviate the conditions that raise substantial doubt through cost avoidance measures, including amending contractual arrangements with certain supply and collaboration partners, and reducing operating expenses, for the Company to continue as a going concern for a period of twelve months from the date the financial statements are issued. However, the Company has concluded that the likelihood that its plan to extend its cash runway from one or more of these approaches will be successful, while reasonably possible, is less than probable. Accordingly, the Company has concluded that substantial doubt exists about its ability to continue as a going concern for a period of at least twelve months from the date of issuance of these financial statements. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities, other than obligations under the Loan Agreement classified as current, that might result from the outcome of the uncertainties described above.</span></div>
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us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with 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, derivative liabilities, refund liabilities to customers, other non-current liabilities, including the excess purchase commitment liability, stock-based compensation expense, product and collaboration revenues including various rebates and reserves related to product sales, non-cash interest expense on the liability related to sale of future royalties, inventories, income taxes, intangible assets and goodwill. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Although the Company regularly assesses these estimates, actual results could differ materially from these estimates. Changes in estimates are recorded in the period they become known. The Company bases its estimates on historical experience and various other assumptions that it believes to be reasonable under the circumstances.</span></div>
CY2021Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
28378000 usd
us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
76606000 usd
akba Valuation Allowances And Reserves Adjustments Related To Prior Period Sales
ValuationAllowancesAndReservesAdjustmentsRelatedToPriorPeriodSales
-215000 usd
us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
77474000 usd
CY2022Q3 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
27295000 usd
CY2020Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
41363000 usd
us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
119209000 usd
CY2022Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1265000 usd
CY2022Q3 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
43296000 usd
CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
44561000 usd
CY2022Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5047000 usd
CY2021Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
9159000 usd
CY2021Q3 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
0 usd
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
0 usd
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
0 usd
CY2022Q3 akba Contract With Customer Refund Liability Amortization Of Discount
ContractWithCustomerRefundLiabilityAmortizationOfDiscount
1100000 usd
akba Contract With Customer Refund Liability Amortization Of Discount
ContractWithCustomerRefundLiabilityAmortizationOfDiscount
2300000 usd
CY2022Q3 akba Contract With Customer Refund Liability Amortization Of Deferred Gain
ContractWithCustomerRefundLiabilityAmortizationOfDeferredGain
900000 usd
akba Contract With Customer Refund Liability Amortization Of Deferred Gain
ContractWithCustomerRefundLiabilityAmortizationOfDeferredGain
1800000 usd
CY2022Q3 us-gaap Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
13700000 usd
CY2022Q2 akba Restructuring And Related Cost Number Of Positions Exclusive Of Open Positions Approved For Elimination Percent
RestructuringAndRelatedCostNumberOfPositionsExclusiveOfOpenPositionsApprovedForEliminationPercent
0.42
CY2022Q2 akba Restructuring And Related Cost Number Of Positions Inclusive Of Open Positions Approved For Elimination Percent
RestructuringAndRelatedCostNumberOfPositionsInclusiveOfOpenPositionsApprovedForEliminationPercent
0.47
CY2022Q3 us-gaap Restructuring And Related Cost Expected Cost1
RestructuringAndRelatedCostExpectedCost1
14700000 usd
CY2022Q3 us-gaap Restructuring Charges
RestructuringCharges
200000 usd
us-gaap Restructuring Charges
RestructuringCharges
14700000 usd
us-gaap Severance Costs1
SeveranceCosts1
11400000 usd
CY2022Q3 us-gaap Severance Costs1
SeveranceCosts1
11400000 usd
CY2022Q3 us-gaap Other Restructuring Costs
OtherRestructuringCosts
3300000 usd
us-gaap Other Restructuring Costs
OtherRestructuringCosts
3300000 usd
CY2021Q4 akba Contractual Arrangement Royalties Agreement Liability Noncurrent
ContractualArrangementRoyaltiesAgreementLiabilityNoncurrent
53079000 usd
CY2021Q4 us-gaap Restructuring Reserve
RestructuringReserve
0 usd
us-gaap Restructuring Charges
RestructuringCharges
14711000 usd
us-gaap Restructuring Reserve Settled Without Cash2
RestructuringReserveSettledWithoutCash2
3253000 usd
akba Payments For Restructuring And Adjustments
PaymentsForRestructuringAndAdjustments
7220000 usd
CY2022Q3 us-gaap Restructuring Reserve
RestructuringReserve
4238000 usd
CY2021Q1 akba Contractual Arrangement Royalties Agreement Maximum Annual Royalty Payout Capacity
ContractualArrangementRoyaltiesAgreementMaximumAnnualRoyaltyPayoutCapacity
13000000 usd
CY2021Q1 akba Contractual Arrangement Royalties Agreement Maximum Aggregate Royalty Payout Capacity
ContractualArrangementRoyaltiesAgreementMaximumAggregateRoyaltyPayoutCapacity
150000000 usd
CY2021Q1 akba Proceeds From Contractual Arrangement Royalties Agreement Sale Of Future Royalties
ProceedsFromContractualArrangementRoyaltiesAgreementSaleOfFutureRoyalties
44800000 usd
CY2021Q1 akba Contractual Arrangement Royalties Agreement Liability Noncurrent
ContractualArrangementRoyaltiesAgreementLiabilityNoncurrent
44800000 usd
CY2022Q3 akba Contractual Arrangement Royalties Agreement Interest Rate Effective Percentage
ContractualArrangementRoyaltiesAgreementInterestRateEffectivePercentage
0.136
CY2022Q3 us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
-350000 usd
akba Contractual Arrangement Royalties Agreement Royalties Earned And Payable
ContractualArrangementRoyaltiesAgreementRoyaltiesEarnedAndPayable
1195000 usd
akba Contractual Arrangement Royalties Agreement Noncash Interest Expense Income
ContractualArrangementRoyaltiesAgreementNoncashInterestExpenseIncome
6352000 usd
CY2022Q3 akba Contractual Arrangement Royalties Agreement Liability Noncurrent
ContractualArrangementRoyaltiesAgreementLiabilityNoncurrent
58236000 usd
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
1820000 usd
CY2022Q1 us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
-710000 usd
CY2022Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
1110000 usd
CY2022Q2 us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
0 usd
CY2022Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
1110000 usd
CY2022Q3 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
760000 usd
CY2022Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
397000 usd
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
1763000 usd
CY2022Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
32855000 usd
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
62635000 usd
CY2022Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
18970000 usd
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
14661000 usd
CY2022Q3 akba Inventory Net Current And Non Current
InventoryNetCurrentAndNonCurrent
52222000 usd
CY2021Q4 akba Inventory Net Current And Non Current
InventoryNetCurrentAndNonCurrent
79059000 usd
CY2022Q3 us-gaap Inventory Net
InventoryNet
40039000 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
38195000 usd
CY2022Q3 us-gaap Inventory Noncurrent
InventoryNoncurrent
12183000 usd
CY2021Q4 us-gaap Inventory Noncurrent
InventoryNoncurrent
40864000 usd
CY2022Q3 akba Inventory Net Current And Non Current
InventoryNetCurrentAndNonCurrent
52222000 usd
CY2021Q4 akba Inventory Net Current And Non Current
InventoryNetCurrentAndNonCurrent
79059000 usd
CY2022Q3 us-gaap Inventory Write Down
InventoryWriteDown
2600000 usd
CY2021Q3 us-gaap Inventory Write Down
InventoryWriteDown
1700000 usd
us-gaap Inventory Write Down
InventoryWriteDown
10000000 usd
akba Inventory Adjustments To Previous Reserves
InventoryAdjustmentsToPreviousReserves
14800000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
213603000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
132508000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
81095000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
213603000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
105476000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
108127000 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
9000000 usd
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
9000000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
27000000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
27000000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
55100000 usd
CY2022Q3 us-gaap Goodwill
Goodwill
55100000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2022Q3 akba Accrued Product Revenue Allowances Current
AccruedProductRevenueAllowancesCurrent
25222000 usd
CY2021Q4 akba Accrued Product Revenue Allowances Current
AccruedProductRevenueAllowancesCurrent
26624000 usd
CY2022Q3 akba Accrued Clinical Expenses Current
AccruedClinicalExpensesCurrent
8652000 usd
CY2021Q4 akba Accrued Clinical Expenses Current
AccruedClinicalExpensesCurrent
14036000 usd
CY2022Q3 akba Collaborative Arrangement Accrued Liability
CollaborativeArrangementAccruedLiability
19550000 usd
CY2021Q4 akba Collaborative Arrangement Accrued Liability
CollaborativeArrangementAccruedLiability
22654000 usd
CY2022Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
9140000 usd
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
15863000 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4260000 usd
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4802000 usd
CY2022Q3 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
2916000 usd
CY2021Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
3472000 usd
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1725000 usd
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1899000 usd
CY2022Q3 akba Accrued Commercial Manufacturing Current
AccruedCommercialManufacturingCurrent
3167000 usd
CY2021Q4 akba Accrued Commercial Manufacturing Current
AccruedCommercialManufacturingCurrent
3843000 usd
CY2022Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
4238000 usd
CY2021Q4 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
0 usd
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
8494000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
11263000 usd
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
87364000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
104456000 usd
CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
32000000 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
35000000 usd
CY2022Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
67000000 usd
CY2022Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
1053000 usd
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
65947000 usd
CY2020Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
175000000 shares
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
350000000 shares
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
350000000 shares
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
183951583 shares
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
183951583 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
177000963 shares
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
177000963 shares
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q3 akba Number Of Stock Incentive Plans
NumberOfStockIncentivePlans
1 stock_incentive_plan
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1800000 usd
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1700000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
5400000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
5000000 usd
CY2021Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
1800000 usd
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
1800000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
5500000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
5300000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1837000 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
461000 usd
CY2022Q3 akba Lessee Operating Lease Liability Payments Net Reminder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsNetReminderOfFiscalYear
1376000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
6954000 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
307000 usd
CY2022Q3 akba Lessee Operating Lease Liability Payments Due Net Year One
LesseeOperatingLeaseLiabilityPaymentsDueNetYearOne
6647000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
8167000 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
0 usd
CY2022Q3 akba Lessee Operating Lease Liability Payments Due Net Year Two
LesseeOperatingLeaseLiabilityPaymentsDueNetYearTwo
8167000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
8293000 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
0 usd
CY2022Q3 akba Lessee Operating Lease Liability Payments Due Net Year Three
LesseeOperatingLeaseLiabilityPaymentsDueNetYearThree
8293000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
6571000 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
0 usd
CY2022Q3 akba Lessee Operating Lease Liability Payments Due Net Year Four
LesseeOperatingLeaseLiabilityPaymentsDueNetYearFour
6571000 usd
CY2022Q3 akba Lessee Operating Lease Liability To Be Paid Due After Year Four
LesseeOperatingLeaseLiabilityToBePaidDueAfterYearFour
12200000 usd
CY2022Q3 akba Lessor Operating Lease Payment To Be Received Due After Year Four
LessorOperatingLeasePaymentToBeReceivedDueAfterYearFour
0 usd
CY2022Q3 akba Lessee Operating Lease Liability Payments Due Net After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueNetAfterYearFour
12200000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
44022000 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
768000 usd
CY2022Q3 akba Lessee Operating Lease Liability Payments Due Net
LesseeOperatingLeaseLiabilityPaymentsDueNet
43254000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
44022000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
8733000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
35289000 usd
CY2022Q3 akba Excess Inventory Purchase Commitments Expense Reversal
ExcessInventoryPurchaseCommitmentsExpenseReversal
13200000 usd
CY2022Q3 akba Inventory Adjustments To Previous Reserves
InventoryAdjustmentsToPreviousReserves
5800000 usd
CY2022Q3 akba Inventory Adjustments To Previous Reserves
InventoryAdjustmentsToPreviousReserves
5800000 usd
CY2022Q1 akba Excess Inventory Purchase Commitments Expense Reversal
ExcessInventoryPurchaseCommitmentsExpenseReversal
-800000 usd
CY2022Q1 akba Inventory Adjustments To Previous Reserves
InventoryAdjustmentsToPreviousReserves
3200000 usd
CY2022Q3 akba Purchase Committed Program Remaining Contract Costs
PurchaseCommittedProgramRemainingContractCosts
4600000 usd
us-gaap Research And Development Arrangement Contract To Perform For Others Costs Incurred Gross
ResearchAndDevelopmentArrangementContractToPerformForOthersCostsIncurredGross
176300000 usd
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18816539 shares
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17482066 shares

Files In Submission

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0001628280-22-028242.txt Edgar Link pending
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akba-20220930.htm Edgar Link pending
akba-20220930.xsd Edgar Link pending
exhibit102-formofformofame.htm Edgar Link pending
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akba-20220930_cal.xml Edgar Link unprocessable
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