CAMBRIDGE, Mass. (AP) _ Akebia Therapeutics Inc. (AKBA) on Monday reported fourth-quarter net income of $12.3 million, after reporting a loss in the same period a year earlier.
The Cambridge, Massachusetts-based company said it had net income of 25 cents per share.
The kidney disease treatment developer posted revenue of $87.3 million in the period.
For the year, the company reported that its loss narrowed to $76.9 million, or $1.77 per share. Revenue was reported as $178 million.
Akebia Therapeutics shares have decreased 9 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $13.52, a rise of 46 percent in the last 12 months.