AP NEWS

Akebia Therapeutics: 3Q Earnings Snapshot

November 12, 2019 GMT

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.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AKBA at https://www.zacks.com/ap/AKBA