2024 Q1 Form 10-K Financial Statement

#000162828024011270 Filed on March 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $32.61M $56.20M $194.6M
YoY Change -18.74% 1.84% -33.49%
Cost Of Revenue $11.61M $10.51M $39.74M
YoY Change -40.44% -193.41% -53.13%
Gross Profit $21.00M $45.69M $154.9M
YoY Change 1.74% -31.23% -25.47%
Gross Profit Margin 64.41% 81.3% 79.58%
Selling, General & Admin $25.44M $25.44M $100.2M
YoY Change 0.86% -17.0% -27.73%
% of Gross Profit 121.12% 55.68% 64.72%
Research & Development $9.731M $9.865M $63.08M
YoY Change -50.57% -69.08% -51.14%
% of Gross Profit 46.33% 21.59% 40.73%
Depreciation & Amortization $364.0K $9.404M $37.63M
YoY Change -96.13% -0.16% 2174.91%
% of Gross Profit 1.73% 20.58% 24.29%
Operating Expenses $35.94M $44.31M $199.4M
YoY Change -21.16% -38.08% -30.52%
Operating Profit -$14.94M $1.374M -$44.47M
YoY Change -40.11% -126.79% -43.78%
Interest Expense -$2.498M -$1.418M -$6.032M
YoY Change 60.03% -13.33% -61.55%
% of Operating Profit -103.2%
Other Income/Expense, Net $95.00K $658.0K $887.0K
YoY Change -66.31% 51.61% -71.81%
Pretax Income -$17.99M $614.0K -$51.93M
YoY Change -31.4% -108.13% -43.9%
Income Tax
% Of Pretax Income
Net Earnings -$17.99M $614.0K -$51.93M
YoY Change -31.4% -108.13% -43.9%
Net Earnings / Revenue -55.16% 1.09% -26.68%
Basic Earnings Per Share -$0.09 -$0.28
Diluted Earnings Per Share -$0.09 $0.00 -$0.28
COMMON SHARES
Basic Shares Outstanding 209.4M shares 188.4M shares 187.5M shares
Diluted Shares Outstanding 205.0M shares 187.5M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $41.96M $42.93M $42.93M
YoY Change -26.32% -52.55% -52.55%
Cash & Equivalents $41.96M $42.93M $42.93M
Short-Term Investments
Other Short-Term Assets $4.813M $20.24M $20.24M
YoY Change -81.04% -39.65% -39.65%
Inventory $25.53M $15.69M $15.69M
Prepaid Expenses $28.40M
Receivables $26.62M $39.29M $39.29M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $112.9M $118.1M $118.1M
YoY Change -6.44% -36.12% -36.12%
LONG-TERM ASSETS
Property, Plant & Equipment $3.265M $16.05M $16.05M
YoY Change -32.21% 207.73% -53.32%
Goodwill $59.00M $59.00M
YoY Change 7.08% 7.08%
Intangibles $27.03M $36.04M
YoY Change -50.0%
Long-Term Investments
YoY Change
Other Assets $11.79M $12.42M $12.42M
YoY Change 125.14% 131.25% 131.25%
Total Long-Term Assets $112.5M $123.6M $123.6M
YoY Change -27.93% -25.96% -25.96%
TOTAL ASSETS
Total Short-Term Assets $112.9M $118.1M $118.1M
Total Long-Term Assets $112.5M $123.6M $123.6M
Total Assets $225.5M $241.7M $241.7M
YoY Change -18.56% -31.3% -31.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.88M $14.64M $14.64M
YoY Change -5.53% -18.79% -18.79%
Accrued Expenses $53.91M $67.74M $67.74M
YoY Change 16.27% -4.59% -4.59%
Deferred Revenue $695.0K $0.00
YoY Change -100.0%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $17.50M $17.50M
YoY Change -100.0% -45.31% -45.31%
Total Short-Term Liabilities $66.49M $99.87M $99.87M
YoY Change -19.84% -19.95% -19.95%
LONG-TERM LIABILITIES
Long-Term Debt $30.15M $17.18M $17.18M
YoY Change 14.64% -49.58% -49.58%
Other Long-Term Liabilities $6.771M $155.2M $155.2M
YoY Change -46.44% 1176.49% -15.47%
Total Long-Term Liabilities $36.92M $172.4M $172.4M
YoY Change -5.2% 272.88% -20.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $66.49M $99.87M $99.87M
Total Long-Term Liabilities $36.92M $172.4M $172.4M
Total Liabilities $252.7M $272.3M $272.3M
YoY Change -13.21% -20.5% -20.5%
SHAREHOLDERS EQUITY
Retained Earnings -$1.627B -$1.609B
YoY Change 3.03% 3.61%
Common Stock $1.600B $1.578B
YoY Change 2.23% 1.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$27.26M -$30.58M -$30.58M
YoY Change
Total Liabilities & Shareholders Equity $225.5M $241.7M $241.7M
YoY Change -18.56% -31.3% -31.3%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$17.99M $614.0K -$51.93M
YoY Change -31.4% -108.13% -43.9%
Depreciation, Depletion And Amortization $364.0K $9.404M $37.63M
YoY Change -96.13% -0.16% 2174.91%
Cash From Operating Activities -$19.43M -$2.308M -$23.38M
YoY Change 10.8% -95.78% -68.03%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $6.794M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $18.48M -1.290M -25.21M
YoY Change -215.71% 128900.0% -272.67%
NET CHANGE
Cash From Operating Activities -$19.43M -2.308M -23.38M
Cash From Investing Activities $0.00 0.000 0.000
Cash From Financing Activities $18.48M -1.290M -25.21M
Net Change In Cash -$957.0K -3.598M -48.59M
YoY Change -97.14% -93.42% -17.18%
FREE CASH FLOW
Cash From Operating Activities -$19.43M -$2.308M -$23.38M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$2.308M -$23.38M
YoY Change -95.78% -68.08%

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1777000 usd
CY2023 akba Contract With Customer Non Cash Revenue Recognized
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CY2022 akba Contract With Customer Non Cash Revenue Recognized
ContractWithCustomerNonCashRevenueRecognized
9550000 usd
CY2023 akba Noncash Research And Development Expense
NoncashResearchAndDevelopmentExpense
782000 usd
CY2022 akba Noncash Research And Development Expense
NoncashResearchAndDevelopmentExpense
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CY2023 akba Operating Lease Right Of Use Asset Periodic Reduction Net
OperatingLeaseRightOfUseAssetPeriodicReductionNet
4219000 usd
CY2022 akba Operating Lease Right Of Use Asset Periodic Reduction Net
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CY2023 us-gaap Gain Loss On Contract Termination
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825000 usd
CY2022 us-gaap Gain Loss On Contract Termination
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CY2023 us-gaap Write Off Of Deferred Debt Issuance Cost
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CY2022 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
406000 usd
CY2023 us-gaap Inventory Lifo Reserve Period Charge
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1580000 usd
CY2022 us-gaap Inventory Lifo Reserve Period Charge
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30242000 usd
CY2023 akba Purchase Commitments Expense Reversal Of Expense
PurchaseCommitmentsExpenseReversalOfExpense
1533000 usd
CY2022 akba Purchase Commitments Expense Reversal Of Expense
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CY2023 us-gaap Share Based Compensation
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9317000 usd
CY2022 us-gaap Share Based Compensation
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17849000 usd
CY2023 us-gaap Increase Decrease In Derivative Liabilities
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-760000 usd
CY2022 us-gaap Increase Decrease In Derivative Liabilities
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CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-994000 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-11297000 usd
CY2023 us-gaap Increase Decrease In Inventories
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2542000 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-19087000 usd
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-11839000 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1058000 usd
CY2023 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
1361000 usd
CY2022 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
5623000 usd
CY2023 us-gaap Increase Decrease In Accounts Payable
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-5244000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1501000 usd
CY2023 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-10021000 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-38005000 usd
CY2023 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-4963000 usd
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
2311000 usd
CY2023 us-gaap Increase Decrease In Contract With Customer Liability
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-3738000 usd
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
4654000 usd
CY2023 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-5691000 usd
CY2022 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
2277000 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-23384000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
114000 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2023 akba Proceeds From Refund Liability To Contract With Customer
ProceedsFromRefundLiabilityToContractWithCustomer
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CY2022 akba Proceeds From Refund Liability To Contract With Customer
ProceedsFromRefundLiabilityToContractWithCustomer
40000000 usd
CY2023 akba Proceeds From Issuance Of Common Stock Net Of Issuance Costs
ProceedsFromIssuanceOfCommonStockNetOfIssuanceCosts
6708000 usd
CY2022 akba Proceeds From Issuance Of Common Stock Net Of Issuance Costs
ProceedsFromIssuanceOfCommonStockNetOfIssuanceCosts
7121000 usd
CY2023 us-gaap Proceeds From Stock Plans
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85000 usd
CY2022 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
410000 usd
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1000 usd
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
67000 usd
CY2023 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
32000000 usd
CY2022 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
33000000 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
14598000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-48590000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-58670000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
93169000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
151839000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44579000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
93169000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
6059000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
6755000 usd
CY2023 us-gaap Nature Of Operations
NatureOfOperations
<span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.27pt">NATURE OF BUSINESS</span><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Organization</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Akebia Therapeutics, Inc., referred to as </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Akebia</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or the </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Company</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, was incorporated in the State of Delaware in 2007 and became a public company in 2014. Akebia is a fully integrated commercial-stage biopharmaceutical company committed to addressing patients’ unmet needs. Our purpose is to better the life of each person impacted by kidney disease. </span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has one commercial product in the United States, or </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">U.S</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, Auryxia</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (ferric citrate), which is approved by the U.S. Food and Drug Administration, or </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">FDA</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, and marketed for two indications: (i) the control of serum phosphorus levels in adult patients with dialysis dependent chronic kidney disease, or </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">DD-CKD</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, and (ii) the treatment of iron deficiency anemia, or </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">IDA,</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in adult patients with non-dialysis chronic kidney disease, or </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">NDD-CKD</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Auryxia will lose exclusivity in the U.S. in March 2025. </span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ferric citrate is also approved in Japan, and is marketed and sold by the Company's collaboration partner, as an oral treatment for the improvement of hyperphosphatemia in patients with chronic kidney disease, or </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">CKD</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, including DD-CKD and NDD-CKD and for the treatment of adult patients with IDA under the trade name Riona (ferric citrate hydrate).</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has early to late-stage clinical programs, including vadadustat, the Company’s lead investigational product candidate. Vadadustat is an investigational oral hypoxia-inducible factor prolyl hydroxylase, or </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">HIF-PH</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, inhibitor. In October 2023, the FDA acknowledged the Company's New Drug Application, or </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">NDA</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, resubmission for vadadustat was complete, classified it as a Class 2 response and set a user fee goal date, or</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"> PDUFA date</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, of March 27, 2024.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Vadadustat is approved for the treatment of symptomatic anemia associated with CKD under the trade name Vafseo in the European Economic Area, or </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">EEA</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, the United Kingdom, or </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">UK</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, Switzerland, Australia and Taiwan in adult patients on chronic maintenance dialysis, in Korea for adult patients with CKD on hemodialysis and in Japan for adult dialysis-dependent and non-dialysis patients. The Company will continue to support its partners in preparation to launch vadadustat in Europe, Taiwan and potentially other countries to pursue our goal of enabling broad access to vadadustat for patients globally.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Since its inception, the Company has devoted most of its resources to research and development, or </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">R&amp;D</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, 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, </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">JT and Torii,</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in 2018. In addition, the Company continues to explore additional development opportunities to expand its pipeline and portfolio of novel therapeutics. If the Company does not successfully commercialize vadadustat in the U.S., if approved, or any other potential product candidate, it may be unable to achieve profitability. </span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2023, the Company had cash and cash equivalents of approximately $42.9 million. Based on its current operating plan, the Company believes that its cash resources and the cash the Company expects to generate from product, royalty, supply and license revenues will be sufficient to allow the Company to fund its current operating plan through at least twelve months from the filing of this Annual Report on Form 10-K, or </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Form 10-K</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. However, if the Company’s operating performance deteriorates significantly from the levels expected in the Company’s operating plan, or if vadadustat is not approved in the U.S., it would affect the Company’s liquidity and its ability to continue as a going concern in the future. The Company expects to finance future cash needs through product and collaboration, license and other revenue, including royalties and revenue from supply agreements. If the Company believes its resources are insufficient to satisfy its liquidity requirements, we may seek to sell public or private equity, enter into new debt transactions, explore potential strategic transactions, consider other cash-generating or saving measures or a combination of these approaches or other strategic alternatives. There can be no assurance that the current operating plan will be achieved in the time frame anticipated by the Company or that its cash resources will fund its operating plan for the period of time anticipated by the Company, or that additional funding will be available on terms acceptable to the Company, or at all.</span></div>
CY2023Q4 akba Number Of Commercial Products
NumberOfCommercialProducts
1 commercialproduct
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
42900000 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Calibri',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, revenue and expenses, classification of the expenses, assets and liabilities and the disclosure of contingent assets and liabilities as of and during the reported period. On an ongoing basis, management evaluates its estimates. Management bases its estimates and assumptions on historical experience when available and on various factors, including expected business and operational changes, sensitivity and volatility associated with the assumption that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of the assets and liabilities that are not readily apparent from other sources. In certain circumstances, management must apply significant judgment in these processes. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes, and management selects an amount that falls within that range of reasonable estimates. Although, we regularly assesses these estimates, actual results may differ materially from those estimates and changes in estimates are recorded in the period they become known.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Significant estimates and judgments reflected in these consolidated financial statements include, but are not limited to: accrued expenses, other long-term liabilities, product revenues, including various rebates, returns and reserves related to product sales, inventories, classification of expenses between cost of goods sold, R&amp;D and selling, general and administrative, long-term assets, including the Company's right-of-use assets, intangible asset and goodwill.</span></div>
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1000000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1100000 usd
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
100000 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
400000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
42925000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
90466000 usd
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1654000 usd
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2703000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44579000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
93169000 usd
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of Risk and Off-Balance Sheet Risk</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Credit Risk</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash, cash equivalents and accounts receivable are the only financial instruments that potentially subject the Company to concentrations of credit risk. The Company maintains cash accounts principally at three financial institutions in the U.S., which at times, may exceed the Federal Deposit Insurance Corporation's limits. The Company has not experienced any losses from cash balances in excess of the insurance limit. The Company's management does not believe the Company is exposed to significant credit risk at this time due to the financial condition of the financial institutions where its cash is held. </span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Off-Balance Sheet Accounts</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has no significant off-balance sheet concentrations of credit risk, such as foreign currency exchange contracts, option contracts or other hedging arrangement. See Note 9, </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Leases,</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for further details.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Manufacturing and Distribution Risk.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is dependent on third-party manufacturers, logistics company and distributors to supply products for commercial activities associated with its product and product candidates, as applicable. In particular, the Company relies and </span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">expects to continue to rely on a small number of manufacturers to supply it with its requirements for the active pharmaceutical ingredients and formulated drugs related to the Company's product and product candidate activities. These activities, including the commercialization of Auryxia, could be adversely affected by a significant interruption in the supply of active pharmaceutical ingredients and formulated drugs or distribution of finished product to the market.</span></div>
CY2023Q4 akba Cash Number Of Financial Institutions Held Within
CashNumberOfFinancialInstitutionsHeldWithin
3 financialinstitution
CY2023Q4 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P6Y
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2023 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2022 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
6400000 usd
CY2022 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
7600000 usd
CY2022Q4 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0 usd
CY2023Q4 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0 usd
CY2023 us-gaap Number Of Reporting Units
NumberOfReportingUnits
1 reporting_unit
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
760000 usd
CY2023 us-gaap Increase Decrease In Derivative Liabilities
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-760000 usd
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Liability
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0 usd
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
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11394000 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
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13676000 usd
CY2023Q4 us-gaap Inventory Net
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15691000 usd
CY2022Q4 us-gaap Inventory Net
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21568000 usd
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
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1143000 usd
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
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610000 usd
CY2023Q4 us-gaap Inventory Noncurrent
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9403000 usd
CY2022Q4 us-gaap Inventory Noncurrent
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610000 usd
CY2023Q4 akba Inventory Net Current And Non Current
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25094000 usd
CY2022Q4 akba Inventory Net Current And Non Current
InventoryNetCurrentAndNonCurrent
22178000 usd
CY2023Q4 akba Prepaid Manufacturing Costs
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500000 usd
CY2022Q4 akba Prepaid Manufacturing Costs
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CY2023 us-gaap Inventory Write Down
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1600000 usd
CY2022 us-gaap Inventory Write Down
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30200000 usd
CY2023 akba Inventory Recovery Of Write Downs
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4300000 usd
CY2023Q4 us-gaap Goodwill
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59000000 usd
CY2022Q4 us-gaap Goodwill
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59000000 usd
CY2023Q4 us-gaap Prepaid Expense Current And Noncurrent
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14489000 usd
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
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15615000 usd
CY2023Q4 us-gaap Other Assets Current
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5754000 usd
CY2022Q4 us-gaap Other Assets Current
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17249000 usd
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20243000 usd
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32864000 usd
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22940000 usd
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26268000 usd
CY2023Q4 akba Accrued Product Revenue Return Reserves Current
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5420000 usd
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7789000 usd
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8216000 usd
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11894000 usd
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5555000 usd
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4310000 usd
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7500000 usd
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0 usd
CY2023Q4 us-gaap Operating Lease Liability Current
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4491000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
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4744000 usd
CY2023Q4 us-gaap Accrued Royalties Current
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3989000 usd
CY2022Q4 us-gaap Accrued Royalties Current
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3804000 usd
CY2023Q4 akba Contractual Arrangement Royalties Agreement Liability Current
ContractualArrangementRoyaltiesAgreementLiabilityCurrent
2048000 usd
CY2022Q4 akba Contractual Arrangement Royalties Agreement Liability Current
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0 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
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1909000 usd
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1886000 usd
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328000 usd
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5755000 usd
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737000 usd
CY2022Q4 us-gaap Restructuring Reserve Current
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2751000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
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4602000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
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6576000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
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67735000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
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75777000 usd
CY2022Q4 us-gaap Restricted Cash
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2703000 usd
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1366000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous Noncurrent
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2059000 usd
CY2023Q4 us-gaap Other Assets Noncurrent
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12423000 usd
CY2022Q4 us-gaap Other Assets Noncurrent
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5372000 usd
CY2023Q4 us-gaap Inventory Noncurrent
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9403000 usd
CY2022Q4 us-gaap Inventory Noncurrent
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610000 usd
CY2023Q4 us-gaap Restricted Cash Noncurrent
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1654000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
17500000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
17500000 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
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35000000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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317000 usd
CY2023Q4 us-gaap Long Term Debt
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34683000 usd
CY2023 us-gaap Embedded Derivative Gain On Embedded Derivative
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800000 usd
CY2022 us-gaap Embedded Derivative Gain On Embedded Derivative
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1100000 usd
CY2023 akba Contract With Customer Refund Liability Amortization Of Discount
ContractWithCustomerRefundLiabilityAmortizationOfDiscount
3100000 usd
CY2022 akba Contract With Customer Refund Liability Amortization Of Discount
ContractWithCustomerRefundLiabilityAmortizationOfDiscount
3400000 usd
CY2023 akba Contract With Customer Refund Liability Amortization Of Deferred Gain
ContractWithCustomerRefundLiabilityAmortizationOfDeferredGain
4000000 usd
CY2022 akba Contract With Customer Refund Liability Amortization Of Deferred Gain
ContractWithCustomerRefundLiabilityAmortizationOfDeferredGain
2400000 usd
CY2021Q1 akba Contractual Arrangement Royalties Agreement Maximum Annual Royalty Payout Capacity
ContractualArrangementRoyaltiesAgreementMaximumAnnualRoyaltyPayoutCapacity
13000000 usd
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CY2021Q1 akba Contractual Arrangement Royalties Agreement Maximum Aggregate Royalty Payout Capacity
ContractualArrangementRoyaltiesAgreementMaximumAggregateRoyaltyPayoutCapacity
150000000 usd
CY2021Q1 akba Contractual Arrangement Royalties Agreement Annual Sales Milestones Royalty Payout Bonus
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5000000 usd
CY2021Q1 akba Contractual Arrangement Royalties Agreement Liability Noncurrent
ContractualArrangementRoyaltiesAgreementLiabilityNoncurrent
44800000 usd
CY2023Q4 akba Contractual Arrangement Royalties Agreement Interest Rate Effective Percentage
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CY2023 us-gaap Payments For Royalties
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2000000 usd
CY2022 us-gaap Payments For Royalties
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1800000 usd
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2048000 usd
CY2022Q4 akba Contractual Arrangement Royalties Agreement Liability Current
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CY2023Q4 akba Contractual Arrangement Royalties Agreement Liability Noncurrent
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54013000 usd
CY2022Q4 akba Contractual Arrangement Royalties Agreement Liability Noncurrent
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57484000 usd
CY2023Q4 akba Contractual Arrangement Royalties Agreement Liability
ContractualArrangementRoyaltiesAgreementLiability
56061000 usd
CY2022Q4 akba Contractual Arrangement Royalties Agreement Liability
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57484000 usd
CY2023Q4 us-gaap Lessee Operating Lease Remaining Lease Term
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P2Y8M12D
CY2023 us-gaap Operating Lease Cost
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5700000 usd
CY2022 us-gaap Operating Lease Cost
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7100000 usd
CY2023 us-gaap Operating Lease Payments
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5900000 usd
CY2022 us-gaap Operating Lease Payments
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7200000 usd
CY2023 us-gaap Gain Loss On Termination Of Lease
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5261000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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5819000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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3613000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
14693000 usd
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1255000 usd
CY2023Q4 us-gaap Operating Lease Liability
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13438000 usd
CY2023 us-gaap Research And Development Arrangement Contract To Perform For Others Costs Incurred Gross
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44700000 usd
CY2021Q4 us-gaap Valuation Allowances And Reserves Balance
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35590000 usd
CY2022 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
106110000 usd
CY2022 akba Valuation Allowances And Reserves Adjustments Related To Prior Period Sales
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CY2022 us-gaap Valuation Allowances And Reserves Deductions
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CY2022Q4 us-gaap Valuation Allowances And Reserves Balance
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38434000 usd
CY2023 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
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CY2023 akba Valuation Allowances And Reserves Adjustments Related To Prior Period Sales
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CY2023 us-gaap Valuation Allowances And Reserves Deductions
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103725000 usd
CY2023Q4 us-gaap Valuation Allowances And Reserves Balance
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31514000 usd
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3738000 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
29574000 usd
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CY2022 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
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CY2020Q2 us-gaap Common Stock Shares Authorized
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175000000 shares
CY2020Q2 us-gaap Common Stock Shares Authorized
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350000000 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
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350000000 shares
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CY2023Q4 us-gaap Common Stock Shares Issued
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CY2022Q4 us-gaap Common Stock Shares Issued
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CY2022Q4 us-gaap Common Stock Shares Outstanding
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184135714 shares
CY2023Q4 us-gaap Preferred Stock Shares Authorized
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25000000 shares
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CY2023Q4 us-gaap Preferred Stock Shares Issued
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CY2023Q4 us-gaap Preferred Stock Shares Outstanding
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CY2022Q4 us-gaap Preferred Stock Shares Outstanding
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CY2022Q4 us-gaap Preferred Stock Shares Issued
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CY2023 us-gaap Allocated Share Based Compensation Expense
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9300000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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11775411 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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5.82
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y3M3D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
180000 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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4284813 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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0.84
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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0.37
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
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CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
5.16
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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2217040 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
6.06
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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4.20
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y3M7D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2680000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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7354561 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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6.37
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
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CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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792000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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13312835 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
4.20
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
2680000 usd
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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6400000 usd
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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8400000 usd
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
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5200000 usd
CY2023 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P2Y2M8D
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0.0354
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
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0.0481
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
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0.0169
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
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0.0417
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1.0097
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
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1.1171
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
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0.7977
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
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0.9157
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0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0
CY2023 akba Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageGrantDateFairValue
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CY2022 akba Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Grant Date Fair Value
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CY2023 us-gaap Allocated Share Based Compensation Expense
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CY2022 us-gaap Allocated Share Based Compensation Expense
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CY2023 us-gaap Allocated Share Based Compensation Expense
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CY2022 us-gaap Allocated Share Based Compensation Expense
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1700000 usd
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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2600000 usd
CY2022 us-gaap Current Income Tax Expense Benefit
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CY2023 us-gaap Current Income Tax Expense Benefit
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CY2022 us-gaap Deferred Income Tax Expense Benefit
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CY2023 us-gaap Deferred Income Tax Expense Benefit
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CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.210
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.210
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.027
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.025
CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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0.003
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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0
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
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CY2023 akba Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Payment Arrangement Options Cancellations Percent
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CY2022 akba Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Payment Arrangement Options Cancellations Percent
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CY2023 akba Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Payment Arrangement Options Shortfalls Percent
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CY2022 akba Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Payment Arrangement Options Shortfalls Percent
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CY2023 akba Effective Income Tax Rate Reconciliation Effect Of Rate Changes
EffectiveIncomeTaxRateReconciliationEffectOfRateChanges
-0.077
CY2022 akba Effective Income Tax Rate Reconciliation Effect Of Rate Changes
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0.006
CY2023 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
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-0.003
CY2022 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
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0.003
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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0.005
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
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0
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
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