— Akebia Therapeutics (NASDAQ: AKBA) reported fourth quarter 2019 loss of $0.79 per share vs. expected loss of $0.47 per share.
— Revenue rose 16% to $69.6 million vs. $93.15 million expected.
— Net product revenue more than quadrupled to $28.9 million from $6.8 million in the fourth quarter of 2018.
— R&D expenses were $80.4 million for the fourth quarter of 2019 compared to $87.1 million for the fourth quarter of 2018.
— Akebia continues to expect to share the data from global Phase 3 studies of its anemia treatment drug Vadadustat in the second quarter of 2020.
— AKBA stock dipped more than 5% in the pre-market trading session.
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