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Akebia Therapeutics: 3Q Earnings Snapshot

November 8, 2018

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.

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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

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