Q2 2026 Akebia Therapeutics Inc Earnings Call Transcript
Key Points
- Akebia Therapeutics Inc (AKBA) reported a significant milestone with over 10,500 patients on VASCO and $21.3 million in net product revenue for Q2 2026, a 34% sequential increase.
- The VOICE trial met its pre-specified stopping criteria early, demonstrating a statistically significant reduction in the primary composite endpoint of all-cause mortality and hospitalization, driven by a 10% reduction in hospitalizations.
- The company initiated a Phase II basket trial for Ebrivifus (AKB-097) in IgA nephropathy, lupus nephritis, and C3 glomerulopathy, targeting a differentiated tissue-specific complement inhibitor profile.
- Prolisiquat's Phase II FSGS trial is enrolling, and the company highlighted its unique mechanism of action (soluble guanylate cyclase stimulation) as potentially complementary to existing therapies like Sparsentan.
- Commercial diversification is progressing, with approximately one-third of prescribers now outside of USRC, and strong growth from mid-sized dialysis organizations (USRC, IRC, DCI) which still have significant room to expand.
- The company believes its existing cash resources, expected product revenues, and a plan to refinance its term loan will fund operations for at least two years.
- Total revenues decreased to $49.1 million in Q2 2026 from $62.5 million in Q2 2025, primarily due to lower Erixia revenues from generic competition and pricing pressure.
- The company reported a net loss of $80.9 million in Q2 2026, a significant swing from a net income of $0.2 million in the same period last year.
- Akebia Therapeutics Inc (AKBA) expects 2027 VASCO revenues to decrease compared to 2026 due to a planned price reduction to align with ESAs after the TDAPA period ends on December 31, 2026.
- Growth at DaVita, the largest potential opportunity, remains slow, with management not expecting a meaningful increase in adoption until late 2026 or 2027, despite increased engagement.
- The positive VOICE trial data has not yet been presented at a medical conference or published in a peer-reviewed journal, which may delay its full impact on provider adoption.
- The company incurred a $1.9 million expense related to a commercial reorganization, and R&D expenses increased due to higher headcount and clinical trial activities, contributing to the wider net loss.
Ladies and gentlemen, thank you for standing by. This is Roy, and I will be your conference operator today. At this time, I would like to welcome everyone to the 2026 financial results.
All lines will be on mute to prevent any background noise. After the speech, there will be a question-and-answer session. If you would like to ask questions during this time, please press followed by the number one on your telephone gigapad.
Like to return a question, please press start again.
I would now like to turn our conference over to Mercedes Crasco. Please go ahead.
Thank you, and welcome to Akebia's second-quarter 2026 Financial Results and Business Updates Conference Call. Please note that a press release was issued earlier today, Wednesday, August 5, detailing our second-quarter 2026 financial results, and that release is available on the Investors section of our website.
For your convenience, a replay of today's call will also
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