Why did Akebia Therapeutics Inc.’s (AKBA) stock price fluctuate on Tuesday?

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Akebia Therapeutics Inc. (AKBA) shares gained 3.81% in the after-hours on Tuesday, January 2021, and closed the daily trading at $2.45. However, in the regular trading session of Tuesday, AKBA’s stock lost 3.67%. AKBA shares have fallen 19.45% over the last 12 months, and they have moved up 3.51% in the past week. Over the past three months, the stock has lost 15.41%, while over the past six months, it has declined 30.18%.

Let’s see what are the latest news and developments about the company?

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AKBA participation in the upcoming event

Akebia Therapeutics, Inc. (AKBA) will participate virtually at the 40th Annual J.P. Morgan Healthcare Conference on Tuesday, January 11, 2022, at 4:30 p.m. ET. The company will be presented by Chief Executive Officer, John P. Butler at the event.

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AKBA inducement grants

On January 4, 2022, Akebia Therapeutics, Inc. granted eight newly-hired employees options to purchase an aggregate of 49,000 shares of Akebia’s common stock.

Earlier on December 1, 2021, AKBA also granted 21 newly-hired employees options to purchase an aggregate of 85,000 shares of Akebia’s common stock. The options were granted under Nasdaq Listing Rule 5635(c)(4).

These options were granted under Nasdaq Listing Rule 5635(c)(4).

AKBA latest financial results

On November 4, 2021, Akebia Therapeutics Inc. (AKBA), released financial results for the third quarter ended September 30, 2021.

Q3 2021 financial highlights

  • AKBA’s total revenue was $48.8 million for the third quarter of 2021 compared to $60.0 million for the third quarter of 2020.
  • The cost of goods sold was $15.9 million for Q3 2021 compared to $30.3 million for the third quarter of 2020.
  • Research and development expenses were $40.5 million for Q3 2021 compared to $46.9 million for Q3 2020.
  • In Q3, 2021, selling, general and administrative expenses were $46.4 million compared to $40.2 million in Q3 2020.
  • It suffered a net loss of $59.5 million for the third quarter of 2021 compared to a net loss of $60.0 million for the third quarter of 2020.
  • The company ended the third quarter with cash, cash equivalents, and available-for-sale securities of $207.2 million.

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Conclusion

Well, as of this writing, there was no reason to justify its mixed performance on Tuesday. There was no recent news was available as well. So, let’s see how it performs on Wednesday?

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