Akebia Therapeutics Inc 2025年度报告
April 2026
Dear Fellow Shareholders,
Akebia has always had a clear strategy and a clear purpose – to better the lives of peopleimpacted by kidney disease. The milestones we achieved together last year, in thecommercial market, in clinical development of potentially important medicines, and inadvancing kidney disease research made 2025 our most impactful year since Akebia’sfounding almost 20 years ago.
In January 2025, we launched Vafseo® (vadadustat), the only hypoxia-inducible factor-prolylhydroxylase (HIF-PH) inhibitor in the U.S. available to treat anemia due to chronic kidneydisease (CKD) in patients on dialysis. During 2025, more than 1,000 prescribers at 24 differentdialysis organizations wrote a prescription for Vafseo, and 290,000 patients now have accessto Vafseo in dialysis clinics. We remain steadfast in our goal to make Vafseo standard of carefor patients on dialysis, which we believe will be achieved if we continue to increase thebreadth and depth of prescribing and continue to generate data supporting the benefits ofthe therapy’s physiological approach to managing anemia. As a member of the Akebia Boardof Directors, the Executive Team and a personal shareholder, I am grateful to the teamsactively engaged with dialysis providers, prescribers, clinicians and trialists, working to bringthe benefits of Vafseo to more patients. We believe executing on this strategic imperativewill lead to significant benefit for patients and shareholders alike.
With the addition of Vafseo, we now have two commercial products for patients with CKDon dialysis. These products help fuel our robust research and development efforts which haverecently achieved key development milestones. We intend to efficiently advance these kidneydisease programs which are focused on addressing areas of high unmet need, including:
•Praliciguat, a soluble guanylate cyclase stimulator currently in a Phase 2 clinical trial,targeting focal segmental glomerulosclerosis, a rare kidney disease
•AKB-097, a next-generation tissue-targeted complement inhibitor planned to enter aPhase 2 basket trial in rare kidney diseases, including IgA nephropathy, lupus nephritis andC3 glomerulopathy, in the second half of 2026; and,•AKB-9090, a HIF-PH inhibitor currently in a Phase 1 clinical trial in acute kidney injuryassociated with cardiac surgery
We have always believed people living with kidney disease deserve innovation. Again, thankyou to our team, supporters and all shareholders who have helped put us in a position,financial and operational, to deliver innovation and better the lives of those impacted bykidney disease.
John P. Butler
President and Chief Executive OfficerAkebia Therapeutics
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