Akebia Therapeutics: 3Q Earnings Snapshot
CAMBRIDGE, Mass. (AP) _ Akebia Therapeutics Inc. (AKBA) on Thursday reported a loss of $26 million in its third quarter.
The Cambridge, Massachusetts-based company said it had a loss of 46 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 77 cents per share.
The kidney disease treatment developer posted revenue of $53.2 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $39.7 million.
Akebia Therapeutics shares have declined 45 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $8.20, a decline of 53 percent in the last 12 months.