Akebia Therapeutics shares surge 20.66% premarket after reporting 49% full-year revenue growth to $227.3M and strong Q4 Vafseo demand amid improved adherence and expanded dialysis access.

Akebia Therapeutics surged 20.66% in premarket trading following the release of its Q4 and full-year 2025 financial results, which highlighted 49% year-over-year revenue growth to $227.3 million, driven by strong performance of its anemia treatment Vafseo. The company cited improved patient adherence rates, expanded dialysis provider access, and clinical data showing reduced mortality/hospitalization risks compared to erythropoietin-stimulating agents. Management also outlined a robust pipeline, including Phase 2 trials for praliciguat in focal segmental glomerulosclerosis and AKB-097 in rare kidney diseases, alongside a $184.8 million cash position sufficient to fund operations for at least two years. These developments, coupled with positive Q4 revenue exceeding expectations and narrowing annual losses, fueled investor optimism about Vafseo’s growth trajectory and long-term profitability.