Akebia Therapeutics: 3Q Earnings Snapshot
CAMBRIDGE, Mass. (AP) _ Akebia Therapeutics Inc. (AKBA) on Tuesday reported a loss of $54.6 million in its third quarter.
On a per-share basis, the Cambridge, Massachusetts-based company said it had a loss of 46 cents. Losses, adjusted for non-recurring costs and amortization costs, came to 28 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 37 cents per share.
The kidney disease treatment developer posted revenue of $92 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $93.9 million.
The company’s shares closed at $3.66. A year ago, they were trading at $8.96.