AKEBIA THERAPEUTICS Reports Fourth Quarter FY2022 Earnings Results on March 9, 2023.
April 1, 2023
Earnings Overview
On March 9 2023, AKEBIA THERAPEUTICS ($NASDAQ:AKBA) released their earnings results for the fourth quarter of FY2022, ending on December 31 2022. Total revenue was noted as USD -7.5 million, showing a remarkable year-over-year rise of 89.3%. Conversely, net income decreased by 7.4% year-over-year to USD 55.2 million.
Transcripts Simplified
As a reminder, all participants will be in listen-only mode. After today’s presentation, there will be an opportunity to ask questions. (Operator Instructions). Please note, this event is being recorded. Our earnings release was issued after the close of the market today and is available on our website at akebia.com.
I’m joined here today by John Butler, our President and Chief Executive Officer; Tom Schall, our Chief Financial Officer; and Julie Anne Smith, our Chief Operating Officer. John Butler, President and Chief Executive Officer: Good afternoon and thank you for joining us. As you saw from today’s earnings release, we had a positive start to the year with strong operating results that exceeded our expectations. We delivered a solid quarter with increased generics of Vadadustat, progress in our Phase 3 program and multiple regulatory milestones.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Akebia Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 292.6 | -92.56 | -25.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Akebia Therapeutics. More…
| Operations | Investing | Financing |
| -73.15 | -0.11 | 14.6 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Akebia Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 351.83 | 342.49 | 0.08 |
Key Ratios Snapshot
Some of the financial key ratios for Akebia Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -4.4% | – | -26.3% |
| FCF Margin | ROE | ROA |
| -25.0% | -414.3% | -13.7% |
Market Price
The stock opened at $0.8 and closed at $0.8, a 22.3% plunge from its previous closing price of $1.0. This marked an overall decrease in the stock’s value, indicating that the company had not performed as expected in the fourth quarter. Overall, AKEBIA THERAPEUTICS had a disappointing fourth quarter FY2022, resulting in a sharp decline in share value. Investors will be eagerly awaiting the release of the company’s first quarter FY2023 earnings results to see if there has been any improvement in performance. Live Quote…
Analysis
GoodWhale has conducted an analysis of AKEBIA THERAPEUTICS‘ wellbeing and determined that it is a high risk investment. Our Risk Rating system evaluates the financial and business aspects of a company and AKEBIA THERAPEUTICS has been given a high risk rating. We have detected three risk warnings in the income sheet, balance sheet, and cashflow statement of AKEBIA THERAPEUTICS. These warnings indicate that the company may be at risk of not meeting its financial goals and objectives. If you would like to review these risk warnings in more detail, please become a registered user of GoodWhale. More…
Peers
It engages in research, development, and commercialization of small molecule therapeutics that promote kidney health. Akebia has several competitors in the market, including Nascent Biotech Inc, MEI Pharma Inc, and Albireo Pharma Inc. All these companies are working hard to develop innovative treatments for kidney diseases and other related conditions.
– Nascent Biotech Inc ($OTCPK:NBIO)
Nascent Biotech Inc is a biotechnology company that specializes in the development of novel gene therapies for cancer and other diseases. As of 2023, the company has a market cap of 13.69M and a Return on Equity of 65.07%. The market cap of Nascent Biotech Inc represents the total value of its outstanding shares, which reflects investor confidence in its products and services. The high ROE suggests that the company is making efficient use of its shareholders’ equity to generate profits and reward shareholders with dividends.
– MEI Pharma Inc ($NASDAQ:MEIP)
MEI Pharma Inc is a pharmaceutical company engaged in the development and commercialization of treatments for cancer. The company’s market cap as of 2023 was 30.56M. The Return on Equity (ROE) for the company was -68.64%. This indicates that the company has been experiencing a decrease in its shareholder equity, indicating that it is not generating enough revenue to cover its liabilities. Despite this, MEI Pharma Inc continues to pursue innovative strategies in its attempt to develop treatments for cancer.
Summary
Akebia Therapeutics recently reported their fourth quarter earnings of FY2022, ending December 31 2022. Revenue was reported as USD -7.5 million, an increase of 89.3% year-over-year, while net income decreased by 7.4% to USD 55.2 million. Despite the positive revenue growth, the stock price moved down on the same day, which is an indicator of investor sentiment.
This could be due to the slightly lower net income compared to the previous year. Investors should continue to monitor Akebia Therapeutics’ performance and assess any potential changes in the future.
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