Q32 Bio (QTTB) Sells ADX-097 to Akebia Therapeutics for $12M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 01 2025
0mins
Should l Buy AKBA?
Q32 Bio (QTTB) announced that it has sold its Phase 2 complement inhibitor, ADX-097, to Akebia Therapeutics (AKBA). Akebia has acquired ADX-097 and will be responsible for future development and commercialization. Under the terms of the agreement, Q32 Bio will receive $12 million in upfront payments and a near-term milestone, which includes $7 million received at signing, $3 million at the 6-month anniversary of signing, and $2 million payable upon the earlier of the achievement of a milestone or the end of 2026. These payments as well as potential development, regulatory and commercial milestones total up to $592 million. Q32 Bio is also eligible to receive tiered royalties on potential future sales of ADX-097, ranging from low single-digit to mid-teen percentages.
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Analyst Views on AKBA
Wall Street analysts forecast AKBA stock price to rise
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 1.260
Low
4.00
Averages
5.00
High
6.00
Current: 1.260
Low
4.00
Averages
5.00
High
6.00
About AKBA
Akebia Therapeutics, Inc. is a fully integrated biopharmaceutical company with two commercial products for patients impacted by kidney disease. The Company's portfolio includes Vafseo and Auryxia. Vafseo is an orally administered medicine, approved by the United States Food and Drug Administration (FDA), for the treatment of anemia due to chronic kidney disease (CKD) in adult patients on dialysis for at least three months. Auryxia (ferric citrate) is an orally administered medicine approved and marketed in the United States for two indications: the control of serum phosphorus levels in adult patients with dialysis dependent chronic kidney disease (DD-CKD), and the treatment of iron deficiency anemia (IDA) in adult patients with non-dialysis-dependent chronic kidney disease (NDD-CKD). Its HIF-based product candidates and other pipeline assets are being evaluated to target areas of unmet needs. Its product candidates include AKB-9090, AKB-10108, AKB-097 and praliciguat.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Akebia (AKBA) Q4 2025 Earnings Call Transcript
See More
Akebia Expects Significant Revenue Growth for Vafseo in 2026
- Revenue Growth Outlook: Akebia anticipates significant revenue growth for Vafseo by 2026, driven by expanded access to therapy at dialysis organizations, new patient starts, and improved adherence rates, enhancing the company's competitive position in the chronic kidney disease treatment market.
- Clinical Trial Advancements: The company plans to initiate mid-stage trials for AKB-097 targeting rare kidney diseases in the second half of 2026, with initial data expected in 2027, which will provide new growth avenues for its product pipeline.
- Strong Financial Position: As of Q4, Akebia reported cash and cash equivalents of approximately $184.8 million, which is expected to fund its current operating plan for at least two years, providing financial stability for research and market expansion.
- Positive Market Sentiment: On Stocktwits, retail sentiment around AKBA stock shifted from 'neutral' to 'bullish', reflecting investor optimism regarding the accelerating adoption of Vafseo and the company's cash reserves, despite a 28% decline in stock price over the past year.
See More
Akebia Therapeutics Q4 2025 Earnings Call Insights
- Significant Revenue Growth: Akebia reported total net product revenue of $227 million for 2025, with Vafseo and Auryxia as key contributors, indicating strong performance in the kidney disease treatment market and positioning Vafseo as a potential standard of care in a $1 billion market opportunity.
- Clinical Data Support: At the ASN meeting, Akebia presented clinical data showing Vafseo's hospitalization rate was 7.7% lower than the ESA comparator, with a 16% reduction in hospitalization days, which is expected to enhance physician utilization and drive sales growth.
- Pipeline Expansion: The company plans to initiate a Phase II open-label trial for AKB-097 in the second half of 2026, indicating Akebia's strategic expansion into rare kidney diseases, leveraging its expertise in kidney drug development to enhance market competitiveness.
- Improved Financial Position: Total revenues for Q4 2025 were $57.6 million, with net loss reduced to $12.2 million compared to $22.8 million in the same quarter last year, reflecting effective cost control and revenue enhancement measures, while cash and cash equivalents stood at $184.8 million, sufficient to support operations for the next two years.
See More
Akebia Reports Q4 Earnings Beat with Revenue Growth
- Earnings Performance: Akebia's Q4 GAAP EPS of -$0.05 missed expectations by $0.01, indicating ongoing challenges in profitability despite revenue growth.
- Revenue Growth: The company reported Q4 revenue of $57.6 million, a 23.9% year-over-year increase, surpassing market expectations by $11.51 million, suggesting sustained demand for its products and laying a foundation for future performance.
- Market Reaction: Although the EPS fell short of expectations, the strong revenue growth may boost investor confidence and drive stock price recovery, reflecting a positive sentiment towards Akebia's future prospects.
- Industry Outlook: Akebia presented its future outlook at the Guggenheim Securities Biotech Summit, highlighting upcoming catalysts that could attract more investor interest in its long-term potential.
See More
Akebia Scheduled to Announce Q4 Earnings on February 26
- Earnings Announcement Schedule: Akebia (AKBA) is set to announce its Q4 earnings on February 26 before market open, with consensus EPS estimated at -$0.06 and revenue at $46.09 million, reflecting a 0.9% year-over-year decline, indicating potential profitability challenges that may affect investor confidence.
- Earnings Forecast Changes: Over the past three months, EPS estimates have seen no upward revisions and two downward adjustments, highlighting analysts' concerns regarding the company's profitability, while revenue estimates experienced one upward revision and two downward adjustments, reflecting a cautious market outlook on Akebia's future revenue growth.
- Market Reaction Analysis: Given the recent downward revisions in earnings expectations, Akebia's stock price may face negative pressure, prompting investors to closely monitor the upcoming earnings report to assess the company's financial health and market performance.
- Industry Dynamics: Akebia presented its 2026 pipeline outlook at the Guggenheim Securities Biotech Summit, and despite current challenges, the company is actively seeking future growth catalysts, which may attract the attention of long-term investors.
See More
Akebia Doses First Patient in Phase 2 Trial of Praliciguat for FSGS
- Trial Initiation: Akebia Therapeutics has announced the dosing of the first patient in the Phase 2 clinical trial of Praliciguat, its lead drug candidate for FSGS, potentially addressing the needs of approximately 40,000 patients in the U.S. without approved treatments.
- Study Design: This randomized, double-blind, placebo-controlled multicenter study aims to evaluate the efficacy and safety of Praliciguat in reducing the risk of kidney failure, primarily monitoring changes in the urine protein-to-creatinine ratio, which is critical for clinical outcomes.
- Patient Recruitment: Approximately 60 patients will be randomized to receive either Praliciguat or placebo for a 24-week treatment period, after which all participants will transition to an open-label extension to further assess the drug's long-term effects.
- Product Portfolio: Akebia is also advancing other candidates like Vafseo, currently in Phase III development, and AKB-9090 for treating acute kidney injury, indicating a robust pipeline in the renal disease sector.
See More
Akebia (AKBA) Q4 2025 Earnings Call Transcript
See More
Akebia Expects Significant Revenue Growth for Vafseo in 2026
- Revenue Growth Outlook: Akebia anticipates significant revenue growth for Vafseo by 2026, driven by expanded access to therapy at dialysis organizations, new patient starts, and improved adherence rates, enhancing the company's competitive position in the chronic kidney disease treatment market.
- Clinical Trial Advancements: The company plans to initiate mid-stage trials for AKB-097 targeting rare kidney diseases in the second half of 2026, with initial data expected in 2027, which will provide new growth avenues for its product pipeline.
- Strong Financial Position: As of Q4, Akebia reported cash and cash equivalents of approximately $184.8 million, which is expected to fund its current operating plan for at least two years, providing financial stability for research and market expansion.
- Positive Market Sentiment: On Stocktwits, retail sentiment around AKBA stock shifted from 'neutral' to 'bullish', reflecting investor optimism regarding the accelerating adoption of Vafseo and the company's cash reserves, despite a 28% decline in stock price over the past year.
See More
Akebia Therapeutics Q4 2025 Earnings Call Insights
- Significant Revenue Growth: Akebia reported total net product revenue of $227 million for 2025, with Vafseo and Auryxia as key contributors, indicating strong performance in the kidney disease treatment market and positioning Vafseo as a potential standard of care in a $1 billion market opportunity.
- Clinical Data Support: At the ASN meeting, Akebia presented clinical data showing Vafseo's hospitalization rate was 7.7% lower than the ESA comparator, with a 16% reduction in hospitalization days, which is expected to enhance physician utilization and drive sales growth.
- Pipeline Expansion: The company plans to initiate a Phase II open-label trial for AKB-097 in the second half of 2026, indicating Akebia's strategic expansion into rare kidney diseases, leveraging its expertise in kidney drug development to enhance market competitiveness.
- Improved Financial Position: Total revenues for Q4 2025 were $57.6 million, with net loss reduced to $12.2 million compared to $22.8 million in the same quarter last year, reflecting effective cost control and revenue enhancement measures, while cash and cash equivalents stood at $184.8 million, sufficient to support operations for the next two years.
See More
Akebia Reports Q4 Earnings Beat with Revenue Growth
- Earnings Performance: Akebia's Q4 GAAP EPS of -$0.05 missed expectations by $0.01, indicating ongoing challenges in profitability despite revenue growth.
- Revenue Growth: The company reported Q4 revenue of $57.6 million, a 23.9% year-over-year increase, surpassing market expectations by $11.51 million, suggesting sustained demand for its products and laying a foundation for future performance.
- Market Reaction: Although the EPS fell short of expectations, the strong revenue growth may boost investor confidence and drive stock price recovery, reflecting a positive sentiment towards Akebia's future prospects.
- Industry Outlook: Akebia presented its future outlook at the Guggenheim Securities Biotech Summit, highlighting upcoming catalysts that could attract more investor interest in its long-term potential.
See More
Akebia Scheduled to Announce Q4 Earnings on February 26
- Earnings Announcement Schedule: Akebia (AKBA) is set to announce its Q4 earnings on February 26 before market open, with consensus EPS estimated at -$0.06 and revenue at $46.09 million, reflecting a 0.9% year-over-year decline, indicating potential profitability challenges that may affect investor confidence.
- Earnings Forecast Changes: Over the past three months, EPS estimates have seen no upward revisions and two downward adjustments, highlighting analysts' concerns regarding the company's profitability, while revenue estimates experienced one upward revision and two downward adjustments, reflecting a cautious market outlook on Akebia's future revenue growth.
- Market Reaction Analysis: Given the recent downward revisions in earnings expectations, Akebia's stock price may face negative pressure, prompting investors to closely monitor the upcoming earnings report to assess the company's financial health and market performance.
- Industry Dynamics: Akebia presented its 2026 pipeline outlook at the Guggenheim Securities Biotech Summit, and despite current challenges, the company is actively seeking future growth catalysts, which may attract the attention of long-term investors.
See More
Akebia Doses First Patient in Phase 2 Trial of Praliciguat for FSGS
- Trial Initiation: Akebia Therapeutics has announced the dosing of the first patient in the Phase 2 clinical trial of Praliciguat, its lead drug candidate for FSGS, potentially addressing the needs of approximately 40,000 patients in the U.S. without approved treatments.
- Study Design: This randomized, double-blind, placebo-controlled multicenter study aims to evaluate the efficacy and safety of Praliciguat in reducing the risk of kidney failure, primarily monitoring changes in the urine protein-to-creatinine ratio, which is critical for clinical outcomes.
- Patient Recruitment: Approximately 60 patients will be randomized to receive either Praliciguat or placebo for a 24-week treatment period, after which all participants will transition to an open-label extension to further assess the drug's long-term effects.
- Product Portfolio: Akebia is also advancing other candidates like Vafseo, currently in Phase III development, and AKB-9090 for treating acute kidney injury, indicating a robust pipeline in the renal disease sector.
See More
