re: Akebia Therapeutics (AKBA)- Vadadustat FDA Approved AT LAST!!

I haven’t followed the name as well as you guys have over the last year. No mention of M&A on the conference call, but that’s no indication of anything.

I’m happy holding and might add another 1-2k more shares.

1) cheap on a price to sales basis
2) new FDA approval ($2-3B TAM?)
3) ~2 years of readily available cash

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Not sure why the delay until January 2025

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In my own words, management stated they start a “road show,” promoting the drug in October ‘24, revenues start to reflect Q1/2 ‘25.

The rationale for not immediately rushing to physicians; they want to best ensure a successful launch. My guess is they’ve been laser focused on FDA.. now that the drug is green lit, they change focus on securing sales.

I take it as a healthy sign for the long term. Successful launch and long term cash flows > rush launch and immediate share price reaction.