Akebia Shares Bounce 12% After Volatile Session
Akebia Therapeutics shares rose 12% to $1.01 in late trading Wednesday, rebounding from a two-day slide on heavy volume. The move followed first-quarter results showing Vafseo revenue climbed to $15.8 million while Auryxia sales fell to $36.2 million. Total revenue dropped to $53.5 million, with a net loss of $9.1 million. Investors weighed Vafseo’s growth against declining Auryxia sales and generic competition.