Akebia Therapeutics (AKBA) Bounces to Profitability amid Kidney Treatment Growth

Akebia Therapeutics, Inc. (NASDAQ:AKBA) is one of the best multibagger penny stocks to buy according to analysts. On August 7, the company delivered its second-quarter results, which showed strong momentum in the addition of new prescribers and expansion of patient access to its key therapy, Vafseo.

Revenue in the quarter surged to $62.5 million, surpassing consensus estimates of $47.64 million, driven by strong sales of Vafseo and Auryxia. Vafseo revenue came in at $13.3 million as prescription demand grew 55% over the first quarter, contributing to the overall revenue growth. Akebia expects dialysis organizations to operationalize protocols that enable Vafseo prescription access to more than 75,000 patients, expected to strengthen the revenue base.

The company also bounced back to profitability, reporting a net income of $0.2 million, up from a net loss of $8.6 million in the second quarter of 2024. An increase in net product revenues drove the net income increase. Akebia exited the quarter with $137.3 million in cash and cash equivalents sufficient to support future growth initiatives.

Akebia Therapeutics, Inc. (NASDAQ:AKBA) is a biopharmaceutical company focused on developing and commercializing therapies for kidney disease. It has developed products like vadadustat (Vafseo), an oral HIF prolyl hydroxylase inhibitor used for anemia related to chronic kidney disease (CKD), and ferric citrate (Auryxia), which manages phosphorus levels and iron deficiency anemia in CKD patients.

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Disclosure: None. This article is originally published at Insider Monkey.