2024 Q3 Form 10-Q Financial Statement

#000162828024035879 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $37.43M $43.65M
YoY Change -10.98% -22.58%
Cost Of Revenue $14.16M $17.05M
YoY Change -21.37% -1.37%
Gross Profit $23.27M $26.60M
YoY Change -3.2% -31.95%
Gross Profit Margin 62.16% 60.94%
Selling, General & Admin $26.52M $26.92M
YoY Change 16.76% -0.44%
% of Gross Profit 113.96% 101.19%
Research & Development $8.487M $7.647M
YoY Change -36.33% -62.14%
% of Gross Profit 36.48% 28.75%
Depreciation & Amortization $9.374M $9.410M
YoY Change -0.28% 4.43%
% of Gross Profit 40.29% 35.37%
Operating Expenses $35.77M $35.33M
YoY Change -3.51% -26.54%
Operating Profit -$12.51M -$8.725M
YoY Change -4.07% -3.01%
Interest Expense -$6.661M -$2.149M
YoY Change 372.41% 30.88%
% of Operating Profit
Other Income/Expense, Net -$17.00K -$39.00K
YoY Change -60.47% 290.0%
Pretax Income -$20.04M -$8.582M
YoY Change 38.2% -23.18%
Income Tax
% Of Pretax Income
Net Earnings -$20.04M -$8.582M
YoY Change 38.3% -23.18%
Net Earnings / Revenue -53.54% -19.66%
Basic Earnings Per Share -$0.10 -$0.04
Diluted Earnings Per Share -$0.10 -$0.04
COMMON SHARES
Basic Shares Outstanding 210.3M shares 209.6M shares
Diluted Shares Outstanding 210.3M shares 209.7M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $34.02M $39.50M
YoY Change -26.84% -26.27%
Cash & Equivalents $34.02M $39.50M
Short-Term Investments
Other Short-Term Assets $6.211M $7.329M
YoY Change -71.77% -69.96%
Inventory $20.49M $23.87M
Prepaid Expenses $28.40M
Receivables $32.17M $29.77M
Other Receivables $0.00 $0.00
Total Short-Term Assets $100.1M $112.1M
YoY Change -8.65% -5.36%
LONG-TERM ASSETS
Property, Plant & Equipment $2.533M $2.895M
YoY Change -37.04% -34.49%
Goodwill $59.00M $59.00M
YoY Change 0.0% 0.0%
Intangibles $9.011M $18.02M
YoY Change -80.0% -66.67%
Long-Term Investments
YoY Change
Other Assets $27.13M $17.78M
YoY Change 602.59% 431.03%
Total Long-Term Assets $107.0M $108.1M
YoY Change -14.65% -20.08%
TOTAL ASSETS
Total Short-Term Assets $100.1M $112.1M
Total Long-Term Assets $107.0M $108.1M
Total Assets $207.1M $220.2M
YoY Change -11.85% -13.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.49M $10.11M
YoY Change 49.3% -14.17%
Accrued Expenses $52.22M $53.90M
YoY Change -16.67% -4.45%
Deferred Revenue $43.30M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $65.71M $107.3M
YoY Change -17.56% 16.4%
LONG-TERM LIABILITIES
Long-Term Debt $38.36M $38.03M
YoY Change 10.81% 105.73%
Other Long-Term Liabilities $4.727M $6.557M
YoY Change -49.79% -61.75%
Total Long-Term Liabilities $43.08M $44.59M
YoY Change -2.15% 25.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $65.71M $107.3M
Total Long-Term Liabilities $43.08M $44.59M
Total Liabilities $257.5M $254.0M
YoY Change -6.15% -9.47%
SHAREHOLDERS EQUITY
Retained Earnings -$1.656B -$1.636B
YoY Change 2.86% 2.54%
Common Stock $1.605B $1.602B
YoY Change 2.23% 2.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$50.40M -$33.75M
YoY Change
Total Liabilities & Shareholders Equity $207.1M $220.2M
YoY Change -11.85% -13.21%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$20.04M -$8.582M
YoY Change 38.3% -23.18%
Depreciation, Depletion And Amortization $9.374M $9.410M
YoY Change -0.28% 4.43%
Cash From Operating Activities -$6.695M -$10.07M
YoY Change -6.62% -377.38%
INVESTING ACTIVITIES
Capital Expenditures $2.000K $29.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$2.000K -$29.00K
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 1.223M 7.640M
YoY Change 2346.0% -195.5%
NET CHANGE
Cash From Operating Activities -6.695M -10.07M
Cash From Investing Activities -2.000K -29.00K
Cash From Financing Activities 1.223M 7.640M
Net Change In Cash -5.474M -2.455M
YoY Change -23.12% -43.83%
FREE CASH FLOW
Cash From Operating Activities -$6.695M -$10.07M
Capital Expenditures $2.000K $29.00K
Free Cash Flow -$6.697M -$10.10M
YoY Change -6.6% -378.18%

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<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:112%">Akebia Therapeutics, Inc., referred to as </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;text-decoration:underline">Akebia</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> or the </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;text-decoration:underline">Company</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">, 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. The Company's 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:112%">The Company has two products approved by the Food and Drug Administration, or </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;text-decoration:underline">FDA</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">, in the United States, or </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;text-decoration:underline">U.S.</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">, Vafseo® (vadadustat) is an 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:112%;text-decoration:underline">HIF-PH,</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> inhibitor. Vafseo (vadadustat) Tablets were approved in the U.S. on March 27, 2024 for the treatment of anemia due to chronic kidney disease, or </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;text-decoration:underline">CKD</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">, in adults who have been receiving dialysis for at least three months. The Company is launching Vafseo in the U.S. Auryxia</span><span style="color:#000000;font-family:'Calibri',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:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> (ferric citrate) is 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:112%;text-decoration:underline">DD-CKD</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">, 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:112%;text-decoration:underline">IDA,</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> in adult patients with non-dialysis dependent chronic kidney disease, or </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;text-decoration:underline">NDD-CKD</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">. 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%">Vafseo is also approved for the treatment of symptomatic anemia associated with CKD 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 the </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, South Korea and Taiwan in adult patients on chronic maintenance dialysis and in Japan for adult dialysis-dependent and non-dialysis patients. Vafseo is marketed and sold by the Company's collaboration partners in certain countries.</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:112%">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 CKD, 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:115%">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:115%;text-decoration:underline">R&amp;D</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">, 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:115%;text-decoration:underline">JT and Torii</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">, in 2018. In addition, the Company continues to explore additional development opportunities to expand its pipeline and portfolio of novel therapeutics. </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:115%">As of June 30, 2024, the Company had cash and cash equivalents of approximately $39.5 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 fund its current operating plan for at least twelve months from the filing of this Quarterly Report on Form 10-Q, or </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Form 10-Q</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">. However, if the Company’s operating performance deteriorates significantly from the levels expected in the Company’s operating plan, 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 license, collaboration and other revenue, including royalties and revenue from supply agreements. If the Company believes its resources are insufficient to satisfy its liquidity requirements, it 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>
CY2024Q2 akba Number Of Commercial Products
NumberOfCommercialProducts
2 product
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
39500000 usd
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 this process. 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 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.</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 unaudited condensed 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>
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
42925000 usd
CY2024Q2 us-gaap Restricted Cash
RestrictedCash
1668000 usd
CY2023Q4 us-gaap Restricted Cash
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1654000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
41167000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44579000 usd
us-gaap Concentration Risk Credit Risk
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<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%">Concentration of 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 two 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;text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company makes judgments as to its ability to collect outstanding receivables and provides an allowance for receivables when collection becomes doubtful. Provisions are made based upon a specific review of all significant outstanding receivables and the overall quality and age of those invoices not specifically reviewed as well as historical payment patterns and existing </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%">economic factors. The Company believes that credit risks associated with its customers and collaboration partners are not significant. The Company's allowance for credit losses was $0.2 million and $1.0 million as of June 30, 2024 and December 31, 2023, respectively. For the six months ended June 30, 2024, net recoveries were $0.2 million, inclusive of an incremental allowance for credit losses of $0.2 million for the three months ended June 30, 2024. Write-offs were $0.6 million for the three and six months ended June 30, 2023. </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:700;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 companies and distributors to supply products for commercial activities associated with its product and product candidates, as applicable. In particular, the Company relies and 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 and Vafseo, 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>
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us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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CY2024Q2 us-gaap Inventory Net
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CY2023Q4 us-gaap Inventory Net
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CY2024Q2 akba Inventory Net Current And Non Current
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CY2023Q4 akba Inventory Net Current And Non Current
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CY2024Q2 akba Inventory Recovery Of Write Downs
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4900000 usd
akba Inventory Recovery Of Write Downs
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CY2023Q2 us-gaap Amortization Of Intangible Assets
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CY2024Q2 us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
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CY2023Q4 us-gaap Goodwill
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CY2024Q2 us-gaap Goodwill
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CY2024Q2 us-gaap Prepaid Expense And Other Assets Current
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CY2024Q2 us-gaap Other Assets Miscellaneous Noncurrent
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CY2024Q2 us-gaap Other Assets Noncurrent
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CY2023Q4 us-gaap Other Assets Noncurrent
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CY2024Q2 akba Capitalized Implementation Expense
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CY2023Q4 akba Capitalized Implementation Expense
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CY2023Q2 us-gaap Capitalized Computer Software Amortization1
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CY2024Q2 us-gaap Capitalized Computer Software Amortization1
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us-gaap Capitalized Computer Software Amortization1
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CY2024Q2 akba Accrued Product Revenue Allowances Current
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22940000 usd
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4337000 usd
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5420000 usd
CY2024Q2 akba Accrued Clinical Expenses Current
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CY2024Q2 us-gaap Restructuring Reserve Current
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CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
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CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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CY2024Q2 us-gaap Debt Instrument Carrying Amount
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CY2024Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
4921000 usd
CY2024Q2 us-gaap Long Term Debt
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38031000 usd
CY2024Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
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3076923 shares
CY2024Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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CY2024Q1 us-gaap Warrants And Rights Outstanding Term
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CY2024Q2 us-gaap Derivative Liabilities
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CY2024Q2 us-gaap Contract With Customer Liability Current
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CY2024Q2 us-gaap Contract With Customer Liability Noncurrent
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CY2024Q2 us-gaap Contract With Customer Liability
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CY2024Q2 akba Contract With Customer Refund Liability Amortization Of Discount
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akba Contract With Customer Refund Liability Amortization Of Discount
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akba Contract With Customer Refund Liability Amortization Of Discount
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CY2024Q2 akba Contract With Customer Refund Liability Amortization Of Deferred Gain
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akba Contract With Customer Refund Liability Amortization Of Deferred Gain
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CY2023Q2 akba Contract With Customer Refund Liability Amortization Of Deferred Gain
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akba Contract With Customer Refund Liability Amortization Of Deferred Gain
ContractWithCustomerRefundLiabilityAmortizationOfDeferredGain
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CY2021Q1 akba Contractual Arrangement Royalties Agreement Maximum Annual Royalty Payout Capacity
ContractualArrangementRoyaltiesAgreementMaximumAnnualRoyaltyPayoutCapacity
13000000 usd
CY2021Q1 akba Contractual Arrangement Royalties Agreement Percentage
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0.85
CY2021Q1 akba Contractual Arrangement Royalties Agreement Maximum Aggregate Royalty Payout Capacity
ContractualArrangementRoyaltiesAgreementMaximumAggregateRoyaltyPayoutCapacity
150000000 usd
CY2021Q1 akba Contractual Arrangement Royalties Agreement Liability Noncurrent
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CY2024Q2 akba Contractual Arrangement Royalties Agreement Interest Rate Effective Percentage
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CY2024Q2 akba Contractual Arrangement Royalties Agreement Liability Current
ContractualArrangementRoyaltiesAgreementLiabilityCurrent
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ContractualArrangementRoyaltiesAgreementLiability
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CY2024Q2 us-gaap Lessee Operating Lease Remaining Lease Term
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CY2024Q2 us-gaap Operating Lease Cost
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us-gaap Operating Lease Cost
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us-gaap Operating Lease Cost
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CY2024Q2 us-gaap Operating Lease Payments
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us-gaap Operating Lease Payments
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CY2023Q2 us-gaap Operating Lease Payments
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us-gaap Operating Lease Payments
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CY2023Q2 us-gaap Gain Loss On Termination Of Lease
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us-gaap Gain Loss On Termination Of Lease
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
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CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2024Q2 us-gaap Operating Lease Liability
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us-gaap Research And Development Arrangement Contract To Perform For Others Costs Incurred Gross
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CY2023Q4 us-gaap Valuation Allowances And Reserves Balance
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us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
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akba Valuation Allowances And Reserves Adjustments Related To Prior Period Sales
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us-gaap Valuation Allowances And Reserves Deductions
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CY2024Q2 us-gaap Valuation Allowances And Reserves Balance
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CY2022Q4 us-gaap Valuation Allowances And Reserves Balance
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us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
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akba Valuation Allowances And Reserves Adjustments Related To Prior Period Sales
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us-gaap Valuation Allowances And Reserves Deductions
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CY2023Q2 us-gaap Valuation Allowances And Reserves Balance
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32028000 usd
CY2024Q2 us-gaap Contract With Customer Liability Revenue Recognized
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us-gaap Contract With Customer Liability Revenue Recognized
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us-gaap Contract With Customer Liability Revenue Recognized
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us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
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us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
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CY2024Q2 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
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CY2023Q2 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
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0 usd
CY2020Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
175000000 shares
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
350000000 shares
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
350000000 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
209929145 shares
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
209929145 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
194582539 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
194582539 shares
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2024Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2024Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2100000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4400000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3500000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6000000.0 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
13312835 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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
0 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
5037450 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.57
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
304152 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.51
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
119043 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
21.02
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
648270 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.11
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
17278820 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.42
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y4M13D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1521000 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
8559257 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.40
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y7M2D
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
9300000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y11M8D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0424
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0466
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0367
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0399
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0390
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0466
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0354
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0399
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
1.0998
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.1861
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
1.0231
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.1171
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
1.0998
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.1861
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
1.0097
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.1171
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2024Q2 akba Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Fair Value At Grant Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsFairValueAtGrantDate
0.91
CY2023Q2 akba Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Fair Value At Grant Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsFairValueAtGrantDate
0.97
akba Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Fair Value At Grant Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsFairValueAtGrantDate
1.35
akba Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Fair Value At Grant Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsFairValueAtGrantDate
0.56
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2072000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3490000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4432000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5979000 usd
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
26319512 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18350049 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
26319512 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18350049 shares
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
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0001628280-24-035879-index.html Edgar Link pending
0001628280-24-035879.txt Edgar Link pending
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akba-20240630.htm Edgar Link pending
akba-20240630.xsd Edgar Link pending
akba-20240630_g1.gif Edgar Link pending
exhibit101seventhamendment.htm Edgar Link pending
exhibit102akebiaamendment2.htm Edgar Link pending
exhibit103akebiaviforamend.htm Edgar Link pending
exhibit104akebiavifortermi.htm Edgar Link pending
exhibit105akebiakreosfirst.htm Edgar Link pending
exhibit311-q220241.htm Edgar Link pending
exhibit312-q220241.htm Edgar Link pending
exhibit321-q220241.htm Edgar Link pending
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akba-20240630_def.xml Edgar Link unprocessable
akba-20240630_lab.xml Edgar Link unprocessable
akba-20240630_pre.xml Edgar Link unprocessable
akba-20240630_htm.xml Edgar Link completed
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report.css Edgar Link pending
Show.js Edgar Link pending
akba-20240630_cal.xml Edgar Link unprocessable