Akebia's Vafseo climbs to 11,500 patients, but Auryxia erosion keeps it loss-making

Akebia Therapeutics posted third-quarter 2026 revenue of $36.9M and a net loss of $14.4M, reporting on 5 November. The company said the lower top line reflected reduced sales of Auryxia, its older kidney-disease product. The figures show a business whose revenue base is being rebuilt around a newer drug while the legacy one recedes.

The newer drug is Vafseo (vadadustat), approved for anaemia caused by chronic kidney disease in patients on dialysis. It brought in $14.8M in the quarter, and about 11,500 patients were receiving it. Akebia put that patient count at 140% above the level a year earlier. The summary gives no breakdown of Auryxia revenue, so the size of that product's decline is not clear from the available information.

Two clinical updates accompanied the numbers. Akebia reported positive safety data from the VOICE study and topline results from VOCAL that it said showed non-inferiority to erythropoiesis-stimulating agents (ESAs), the established standard of care. No endpoints, effect sizes or safety figures were provided, so the strength of the evidence cannot yet be judged.

Beyond renal care, the company dosed the first patient in a Phase 2 basket trial of ebribafusp alfa. Akebia closed the quarter with roughly $159.3M in cash. The summary does not say how long that would fund operations or what guidance the company gave.