Why Akebia Therapeutics Stock Sank Today
Shares of Akebia Therapeutics (NASDAQ: AKBA) were sinking today, down 11.1% as of 3:23 p.m. EDT, after dropping as much as 15.3% earlier in the session. The decline came after Akebia reported its 2019 fourth-quarter and full-year results before the market opened on Tuesday.
Akebia posted Q4 revenue of $69.6 million, below the consensus Wall Street estimate of $93.15 million. The company reported a net loss of $94.5 million, or $0.79 per share. The average analyst estimate was for a Q4 net loss of $0.47 per share.
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Source Fool.com
