Akebia Therapeutics Reports Q2 2023 Net Loss of $11.2 Million
Company Generates $56.4 Million in Revenue Amidst Challenging Quarter
Akebia Therapeutics, Inc. (AKBA), a leading biopharmaceutical comp any focused on the development and commercialization of innovative therapeutics for kidney diseases, announced its financial results for the second quarter of 2023. The company reported a net loss of $11.2 million on total revenues of $56.4 million during a challenging quarter marked by fluctuations in product revenue and operational expenses.
Revenue Fluctuations Impact Q2 2023 Performance
In the second quarter of 2023, Akebia Therapeutics reported total revenues of $56.4 million, reflecting a decrease from the previous year's revenue of $126.4 million. The revenue breakdown consisted of $42.2 million in net product revenue and $14.1 million in license, collaboration, and other revenue. While net product revenue experienced a slight decline compared to the same period last year, the company faced significant headwinds in its license, collaboration, and other revenue category.
