ࡱ> z{|} l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1 Courier New1 Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)-**_($* #,##0_);_($* (#,##0);_($* "-"_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* "-"_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* "-"??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* "-"??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)6 0%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0)                + ) , *   Ј ~~ ؈ ~~#؈ ~~"؈ ~~ ؈ ~~8#܈ ~~9#܈ ~~4#܈ ~~3#܈ ~~7#܈ ~~83ffff̙̙3f3fff3f3f33333f33 AKEBIA THERAPEUTICS INC&!Registrant s telephone number i%Table of Contents; Balance SheetYIncome Statementu Cash FlowsPBalance Sheet (1)&3Cash Cash Equivalents and RestrKProperty and Equipment&3 Strategic Collaborations and %3 Strategic Collaborations (1)%a3 Strategic Collaborations (2)%3 Strategic Collaborations (3)&T4 Available For Sale Securities&W4 Available For Sale Securi (1)&]14 Available For Sale Securi (2)&*<5 Fair Value of Financial Instr&|N5 Fair Value of Financial I (1)`6 Accrued Expenses&DqShares Reserved for Future Issu&CStockBased Compensation Expense&StockBased Compensation Exp (1) Leases.12 Net Loss per Share&Comparison of the Three Months &Research and Development Expens&*Comparison of the Six Months En&Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits/ SIGNATURES&>Additional Premises Rent Commen&KCLPFCAMBRIDGE SCIENCE CENTER LL&]VCLPFCAMBRIDGE SCIENCE CENTE (1)& aCLPFCAMBRIDGE SCIENCE CENTE (2)&lCLPFCAMBRIDGE SCIENCE CENTE (3)&vCLPFCAMBRIDGE SCIENCE CENTE (4)&CLPFCAMBRIDGE SCIENCE CENTE (5)&7CLPFCAMBRIDGE SCIENCE CENTE (6)&ؖCLPFCAMBRIDGE SCIENCE CENTE (7)&ӣCERTIFICATION PURSUANT TO SECTI&gCERTIFICATION PURSUANT TO S (1)& CERTIFICATION PURSUANT TO S (2)1jgaraboakebiacom jgaraboakebiacom (1) l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } 0} $ }       !Akebia Therapeutics, Inc. 10-Q 08/08/2018!AKEBIA THERAPEUTICS, INC.Delaware 20-8756903' (State or other jurisdiction of  (I.R.S. Employer& incorporation or organization)  Identification No.)   ' 245 First Street, Cambridge, MA ~ z!0 ((Address of principal executive offices)   (Zip Code)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*bhxl`*^=PF0*8X> @ l  L%  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INCTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } 0.} $ } $} $ } } $ } $      !Akebia Therapeutics, Inc. 10-Q 08/08/2018JBRegistrant s telephone number, including area code: (617) 871-2098Large accelerated filer ?Accelerated filer ?       . &Non-accelerated filer (Do not check if  ? ! Smaller reporting company  ?$ a smaller reporting company)            Emerging growth company  ?$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*=h[OC7eT=PF0*8X> @ l  9g4@;  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number i Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } U5} $ }  9     !Akebia Therapeutics, Inc. 10-Q 08/08/2018Table of Contents%Part I. Financial Information   1 )Item 1 - Financial Statements (Unaudited)     - %Condensed Consolidated Balance Sheets ~ 1 )as of June 30, 2018 and December 31, 2017 (as revised),$Condensed Consolidated Statements of~ -%Operations and Comprehensive Loss for4,the Three and Six Months Ended June 30, 2018and 2017,$Condensed Consolidated Statements of~ 0(Cash Flows for the Six Months Ended June&30, 2018 and 2017 (as revised)1)Notes to Condensed Consolidated Financial~ " Statements,$Item 2 - Management?s Discussion and~ 3+Analysis of Financial Condition and Results of Operations-%Item 3 - Quantitative and Qualitative~ %Disclosures about Market RiskDlth'GG3<&hD !"#$%&'()*+,-./012345678(  Item 4 - Controls and Procedures ~ !!!""Part II. Other Information""###"$Item 1 - Legal Proceedings$~ $%%%&Item 1A - Risk Factors&~ &'''-(%Item 2 - Unregistered Sales of Equity(~ (F&)Securities and Use of Proceeds***0+(Item 3 - Defaults Upon Senior Securities+~ +F,,,(- Item 4 - Mine Safety Disclosures-~ -F..."/Item 5 - Other Information/~ /J0001Item 6 - Exhibits1~ 1N2223 Signatures3~ 3R45$6____________________________17)Created by Morningstar Document Research.08(http://documentresearch.morningstar.com/6X4p%e`< =PF0*8X> @887766 l  4PX  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of ContentsIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } >} $ }  } $ }  } $ 4     !Akebia Therapeutics, Inc. 10-Q 08/08/2018 Balance SheetJune 30, December 31, ~   ~         (as revised)  Assets        Current assets:       ! Cash and cash equivalents~    ~ 2H %Available for sale securities~ ~ RAccounts receivable~ ~ 1)Prepaid expenses and other current assets~ P~ 2cTotal current assets~ ~ R#Property and equipment, net~ ::~ 8 Other assets~ :)~ # Total assets~ VA~ ^;,$Liabilities and stockholders' equityCurrent liabilities:Accounts payable~ J~ ZmAccrued expenses~ ~ f3#Short-term deferred revenue~ V~ !Total current liabilities~  ~ ʜ-%Deferred rent, net of current portion~ &~ r(0(Deferred revenue, net of current portion~ ~ %Other non-current liabilities~ ~ ZTotal liabilities~  ~ &/'Commitments and contingencies (Note 10)D lxld*2->b"  !"#$%&'()*+,-./0123 Stockholders' equity:       6!.Preferred stock $0.00001 par value, 25,000,000! !-!!! !-!."&shares authorized; 0 shares issued and4#, outstanding at June 30, 2018 and December$31, 20175%-Common stock: $0.00001 par value; 175,000,000%~ %%%% %-%*&"shares authorized at June 30, 2018;'3 and December 31, 2017; 56,913,886 and 47,612,619(( shares issued and outstanding at<)4 June 30, 2018 and December 31, 2017, respectively"*Additional paid-in capital*~ *K$***~ *#*,+$Accumulated other comprehensive loss+~ ++++~ ++,Accumulated deficit,~ ,,,,~ ,&^,"-Total stockholders' equity-~ - ---~ -:{-2.*Total liabilities and stockholders' equity~ .VA..~ .^;./0$1____________________________12)Created by Morningstar Document Research.03(http://documentresearch.morningstar.com/,|}Tc=PF0*8X> @332211....      l  #tst  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance Sheet Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } U5} $ }  } $ }  }  $ }  } $ }  } $ #     !Akebia Therapeutics, Inc. 10-Q 08/08/2018Income StatementThree Months Ended  Six Months Ended   June 30,   June 30,   ~   ~   ~   ~   Collaboration revenue ~ f  ~   ~   ~   Operating expenses:                 Research and development  ~ c   ~    ~ &#   ~ U "General and administrative~ ~ k  ~  P  ~ V Total operating expenses~ '~   ~  t   ~ 6Operating loss~ ~ "  ~  T  ~ rOther income (expense):     Interest income~ f~    ~  6)  ~ ROther income (expense)~ ~ *  ~    ~ Net loss~ ~ ʯ ~  }  ~ .&Net loss per share - basic and diluted333333(\  q= ףp  (\0(Weighted-average number of common shares~ N ~ s   ~  *   ~ J| - basic and dilutedComprehensive loss:     Net loss~ ~ ʯ ~  }  ~ 4,Other comprehensive gain (loss) - unrealized~ n~   ~    ~  gain (loss) on debt securities Total comprehensive loss~ ~  ~  }  ~ Dlui2SgyOuyZ{ !"$ ____________________________1!)Created by Morningstar Document Research.0"(http://documentresearch.morningstar.com/ (=PF0*8X> @""!!               l  ;di  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome StatementBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } 8} $ } I} $ } I} $ ;                                 !Akebia Therapeutics, Inc. 10-Q 08/08/2018 Cash FlowsSix Months Ended    June 30, 2018    June 30, 2017         (as revised)  Operating activities:         Net loss ~ }  ~  0 (Adjustments to reconcile net loss to net        *"cash used in operating activities:%Depreciation and amortization~ v~ 7/Amortization of premium/discount on investments~ ~  Stock-based compensation~ I~ F1)Fair value of warrants issued for license -~ V54,Changes in operating assets and liabilities:Accounts receivable~ ~ ~1)Prepaid expenses and other current assets~ ~ sOther long-term assets~ ~ Accounts payable~ ~ Accrued expense~ ~ Deferred revenue~ ~ 2z Deferred rent~ ~ 0(Net cash provided by (used in) operating~ N~  activitiesInvesting activities:Purchase of equipment~ ~ 1)Proceeds from the maturities of available~ ~~ MDl{o/Ut%fK,-0 ! " # $ % & ' ( ) * + , - . / 0 1 2 3 4 5 6 7 8 9 :  for sale securities1!)Proceeds from sales of available for sale!!~ !|!!! !-!" securities1#)Purchase of available for sale securities##~ ####~ #*#0$(Net cash provided by (used in) investing$$~ $$$$~ $n$% activities&Financing activities:&&&&&&&&3'+Proceeds from the issuance of common stock,''~ ''''~ ''(net of issuance costs6).Proceeds from the sale of stock under employee))~ )f)))~ ))*stock purchase plan3++Proceeds from the exercise of stock options++~ ++++~ ++-,%Payments on capital lease obligations,,~ ,,,,~ ,,1-)Net cash provided by financing activities--~ ----~ --6..Increase (decrease) in cash, cash equivalents,..~ .^...~ .8./and restricted cash.0&Cash, cash equivalents, and restricted00~ 06\000~ 0" 0'1cash at beginning of the period.2&Cash, cash equivalents, and restricted2~ 2 22~ 2>2!3cash at end of the period%4Non-cash financing activities44444444'5Unpaid follow-on offering costs5 5$-55~ 5&567$8____________________________19)Created by Morningstar Document Research.0:(http://documentresearch.morningstar.com/: I3kW)l-=PF0*8X> @j ::998855552222      l  D  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash Flows!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } !}  $                     !Akebia Therapeutics, Inc. 10-Q 08/08/2018 Balance Sheet( December 31, 2017 (in thousands)   As revised under    As originally   Effect of change   ASC 606   reported under      ASC 605# Short-term deferred revenue~   ~ .  ~ V  Accumulated deficit~ &^  ~ z+  ~ 2 $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*Hhxl(>b=PF0*8X> @             l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)Property and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } U5} $ }  } $ }  } $      !Akebia Therapeutics, Inc. 10-Q 08/08/20183+Cash, Cash Equivalents, and Restricted Cash June 30, 2018 June 30, 2017! Cash and cash equivalents~    ~ :   Other assets ~ z   ~  4 ,Total cash, cash equivalents, and restricted~    ~ > 1 )cash shown in the statement of cash flows $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/&@rfZNj^6=PF0*8X> @J      l  /  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and Restr!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } +} $ } } $ } U} $ } U} $                             !Akebia Therapeutics, Inc. 10-Q 08/08/2018Property and Equipment Useful Life June 30, 2018December 31, 2017      (in thousands) ' Computer equipment and software ~  ~    ~    Furniture and fixtures ~   ~ 6    ~     Equipment ~   ~     ~    Leasehold improvements  Shorter of the  ~ z(   ~ Z( useful life or remaining lease term (10 years),$Office equipment under capital lease~ ~ ~   ~ :Q~  I %Less accumulated depreciation~ ~  v "Net property and equipment~ ::~ 8 $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/: {ocxG{Mr=PF0*8X> @R         l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment 3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } 0.} $ }  } $ }  }  $ } } $ }  } $      !Akebia Therapeutics, Inc. 10-Q 08/08/2018D<3. Strategic Collaborations and Other Significant Agreements#Three Months Ended June 30, ! Six Months Ended June 30,  ~   ~   ~   ~   Collaboration revenue:  (in thousands)   (in thousands)  MTPC Agreement ~    $-  ~    $-  Otsuka U.S. Agreement  ~ j   ~    ~    ~ I & Otsuka International Agreement  ~ Y   ~    ~ Vb   ~  .&Total Proportional Performance Revenue~ z~  ~    ~ MTPC Stability Studies~  -  ~     -#Total Collaboration Revenue~ f~  ~    ~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0 aUI=4LuM=PF0*8X> @            l  ~  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } $} $ }  } $ }  }  $ } } $                       !Akebia Therapeutics, Inc. 10-Q 08/08/2018D<3. Strategic Collaborations and Other Significant Agreements June 30, 2018     Short-Term    Long-Term   Total  Deferred revenue:  (in thousands)  MTPC Agreement  $-   $-   $-  Otsuka U.S. Agreement  ~    ~ 2   ~ N & Otsuka International Agreement  ~ :   ~    ~  Vifor Agreement -~ I  ~  I  Total~ V~  ~  >  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.baUI=p!n=PF0*8X> @r          l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } a/} $      !Akebia Therapeutics, Inc. 10-Q 08/08/2018D<3. Strategic Collaborations and Other Significant Agreements&Six Months Ended June 30, 2018 Balance at Additions   Deductions  Balance at End    Beginning of            of Period   Period Contract assets:                 Other current assets  $-  ~ .    $-  ~ .   Accounts receivable 1 ~ *  ~   ~ *d   $- Contract liabilities     Deferred revenue~  ~  ~  =  ~ > Accounts payable $-~ B   $-  ~ B     &Six Months Ended June 30, 2017     -%Contract assets - Accounts receivable~ ~ $- ~     $-/'Contract liabilities - Deferred revenue~  ~ } ~  ^  ~ ք$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8 aUI=Xq$D&]zR=PF0*8X> @"               l  ]  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } a/} $      !Akebia Therapeutics, Inc. 10-Q 08/08/2018D<3. Strategic Collaborations and Other Significant Agreements#Three Months Ended June 30, ! Six Months Ended June 30,. &Revenue recognized in the period from: ~   ~   ~   ~  / 'Amounts included in deferred revenue at ~   ~   ~ s  ~ I  the beginning of the  period, $Performance obligations satisfied in ~    $-  ~    $- previous periods$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*haUI= #=PF0*8X> @           l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } $4} $ }  } $ } }  $ } } $ }  } $      !Akebia Therapeutics, Inc. 10-Q 08/08/2018( 4. Available For Sale Securities Gross   Gross          Unrealized    Unrealized        Amortized Cost   Gains   Losses    Fair Value    (in thousands)   June 30, 2018                ! Cash and cash equivalents ~     $-   $-  ~   &Available for sale securities:     Certificates of deposit~  H $-   $-  ~  H'U.S. government debt securities~ j ~   ~    ~ . !Corporate debt securities~ Ҵ -  ~    ~ +#Total available for sale securities~ B~  ~    ~ 3+Total cash, cash equivalents, and available~ Z~  ~    ~ .for sale securities$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6 }qeY@V&=PF0*8X> @             l  0  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } $4} $ }  } $ } $}  $ } } $ }  } $      !Akebia Therapeutics, Inc. 10-Q 08/08/2018( 4. Available For Sale Securities Gross   Gross          Unrealized    Unrealized        Amortized Cost   Gains   Losses    Fair Value    (in thousands)  December 31, 2017                ! Cash and cash equivalents ~ 2H   $-   $-  ~ 2H &Available for sale securities:     Certificates of deposit~  $-   $-  ~ 'U.S. government debt securities~ ΰ  -  ~    ~ N !Corporate debt securities~ ږ -  ~    ~ r+#Total available for sale securities~ :$ $- ~    ~ R3+Total cash, cash equivalents, and available~ jl $- ~    ~ efor sale securities$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6 }qeY @             l  ;  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } *} $ }  } $      !Akebia Therapeutics, Inc. 10-Q 08/08/2018( 4. Available For Sale SecuritiesDue in one year or less~ b  Due after one year  ~  + #Total available for sale securities ~    $ ____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/$~,}qeYk_S+=PF0*8X> @*   l  }M  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } %} $ } $} $ }  }  $ } $} $ }  } $      !Akebia Therapeutics, Inc. 10-Q 08/08/2018.&5. Fair Value of Financial Instruments%Fair Value Measurements Using   Level 1   Level 2   Level 3   Total    (in thousands)   June 30, 2018                 Assets:                ! Cash and cash equivalents ~     $-   $-  ~   Certificates of deposit -~  H    -  ~  H'U.S. government debt securities -~ .     -  ~ . !Corporate debt securities -~     -  ~ ~  ~    $-  ~ .$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/25 wk_SP9f@4(=PF0*8X> @         l  _  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } %} $ } $} $ }  }  $ } $} $ }  } $      !Akebia Therapeutics, Inc. 10-Q 08/08/2018.&5. Fair Value of Financial Instruments%Fair Value Measurements Using   Level 1   Level 2   Level 3   Total    (in thousands)  December 31, 2017                 Assets:                ! Cash and cash equivalents ~ 2H   $-   $-  ~ 2H Certificates of deposit -~     -  ~ 'U.S. government debt securities -~ N     -  ~ N !Corporate debt securities -~ r    -  ~ r~ 2H~ R   $-  ~ e$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/29 wk_SP5b<0$=PF0*8X> @         l  yp  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } } $ }  } $ }  } $                           !Akebia Therapeutics, Inc. 10-Q 08/08/20186. Accrued Expenses June 30, 2018December 31, 2017   (in thousands) ! Accrued clinical expenses ~   ~    Merger costs  ~ O    -   Accrued bonus  ~ $   ~ 4  Professional fees  ~ B   ~   Accrued vacation~ ~ v Accrued payroll~ " ~ n Accrued severance~  -Income tax payable -~ n Accrued other~ rF~ %Total accrued expenses~ ~ f3$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6~rfEMLMO=PF0*8X> @R     l  ~  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } 1} $ } y} $ } y} $                        !Akebia Therapeutics, Inc. 10-Q 08/08/2018+#Shares Reserved for Future Issuance June 30, 2018December 31, 20171 )Common stock options and RSUs outstanding  ~ /   ~ B  ~ / 'Shares available for issuance under the  ~    ~ "Jm   2014 Plan (2)(  Warrant to purchase common stock  ~    ~  /'Shares available for issuance under the~ &~  'ESPP (3) Total~ F;B~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0znbVK=fR=PF0*8X> @* l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } } $ }  } $ }  }  $ } } $ }  } $ } U      !Akebia Therapeutics, Inc. 10-Q 08/08/20180(Stock-Based Compensation Expense SummaryThree Months Ended  Six Months Ended    June 30, 2018    June 30, 2017    June 30, 2018    June 30, 2017     (in thousands)   (in thousands)   Research and development ~    ~   ~   ~ P ~ " General and administrative  ~    ~    ~ N3   ~ 2+   Total ~ &  ~ &'  ~ I  ~ {  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*'hui]Qw=PF0*8X> @             l  ݟ  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation ExpenseLeases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } I"} $ } U} $ } $}  $ } } $ } $} $      !Akebia Therapeutics, Inc. 10-Q 08/08/20180(Stock-Based Compensation Expense SummaryThree Months Ended  Six Months Ended    June 30, 2018    June 30, 2017    June 30, 2018    June 30, 2017     (in thousands)   (in thousands)    Stock options ~ &  ~ N  ~ ~8  ~ 3   Restricted stock   -   ~     -   ~    Restricted stock units  ~ 2    ~ N    ~    ~ j  $Employee stock purchase plan~ ~   ~    ~ NWarrant - -    -  ~ V5 Total~ &~ &' ~  I  ~ {$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0 ui]QwA5)=PF0*8X> @           l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } } $ }  } $ } $}  $                          !Akebia Therapeutics, Inc. 10-Q 08/08/2018LeasesLease Payments        Operating   to be Received    Net Operating    Lease    from Sublease   Lease Payments    (in thousands) ~  ~   ~   ~  ~   ~ M    -  ~ M ~ ~ 6S - ~  6S ~ ~ S - ~  S ~ ~ N - ~  N  Thereafter~ ( - ~  (  Total~ ~  ~   $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4$ s9cLeYM%=PF0*8X> @                l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } %} $ }  } $ }  } $                      !Akebia Therapeutics, Inc. 10-Q 08/08/201812. Net Loss per ShareAs of June 30,  ~   ~   Warrant  ~    ~  ! Outstanding stock options  ~ &   ~ B ! Unvested restricted stock   -   ~  ' Unvested restricted stock units  ~ r7   ~ ^2  Total~ BN~ HI$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|{oc%VEA5)=PF0*8X> @2   l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } } $ }  } $ }  }  $ } } $                          !Akebia Therapeutics, Inc. 10-Q 08/08/2018C;Comparison of the Three Months Ended June 30, 2018 and 2017Three Months Ended  Increase     June 30, 2018    June 30, 2017    (Decrease)    (In Thousands)  Collaboration revenue ~ f  ~   ~ <  Operating expenses:             Research and development  ~ c   ~    ~  "General and administrative~ ~ k  ~  X  Total operating expenses~ '~   ~   Loss from operations~ ~ "  ~  Z Other income, net~ ~    ~  > Net loss~ ~ ʯ ~   $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4 bVJ>4c>}U=PF0*8X> @z          l  {  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } U5} $ } U} $      !Akebia Therapeutics, Inc. 10-Q 08/08/2018)!Research and Development Expenses (in millions)4 ,PRO 2 TECT and INNO 2 VATE Phase 3 program L4@ . &Manufacture of drug substance and drug  ffffff@  product0 (Regulatory activities and other clinical ~  " and preclinical activities1)FO 2 RWARD-2 and TRILO 2 GY-2 studies 1333333Japan Phase 2 studies/'Total increase related to the continued8@!development of vadadustat,$Headcount, consulting and facilitiesffffff @ Other333333?Total other decreases @Total net increase333333<@$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:+|pdX'ub8\!Z=PF0*8X> @2  l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } } $ }  } $ }  }  $ } } $                          !Akebia Therapeutics, Inc. 10-Q 08/08/2018A9Comparison of the Six Months Ended June 30, 2018 and 2017Six Months Ended  Increase     June 30, 2018    June 30, 2017    (Decrease)    (In Thousands)  Collaboration revenue ~   ~   ~ j  Operating expenses:             Research and development ~ &#  ~ U  ~ F "General and administrative~ P~ V  ~    Total operating expenses~ t ~ 6  ~  W Loss from operations~ T~ r ~  r Other income, net~ )~ b  ~  f Net loss~ }~  ~  z $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4 dXL@8g"fO=PF0*8X> @             l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months EnCash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } U5} $ }  } $      !Akebia Therapeutics, Inc. 10-Q 08/08/2018)!Research and Development Expenses (in millions)4 ,PRO 2 TECT and INNO 2 VATE Phase 3 program  333332@ . &Manufacture of drug substance and drug  333333!@  product0 (Regulatory activities and other clinical  @ " and preclinical activities1)FO 2 RWARD-2 and TRILO 2 GY-2 studies 1~ Japan Phase 2 studies~ /'Total increase related to the continued:@!development of vadadustat,$Headcount, consulting and facilities333333@Janssen license fee~ 1)Fair value of warrants issued for Janssen333333 license Other333333?Total other decreases@Total net increase=@$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@&D|pdX'iVw0Tb=PF0*8X> @* l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } y<} $ }  } $ } I} $                       !Akebia Therapeutics, Inc. 10-Q 08/08/2018 Cash FlowsSix Months Ended    June 30, 2018    June 30, 2017    (In Thousands) ' Net cash provided by (used in):         Operating activities ~ N  ~   Investing activities  ~    ~ n Financing activities~ ~ :2Net (decrease) increase in cash, cash equivalents,~ ^~ 8and restricted cash$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.f{o/=PF0*8X> @Z       l  P~*.  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1) SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } y } $ } y< P     !Akebia Therapeutics, Inc. 10-Q 08/08/2018Item 6. Exhibits.Exhibits   @ 1 )Agreement and Plan of Merger, dated as of  7 /June 28, 2018 by and among Akebia Therapeutics,  1 )Inc., Alpha Therapeutics Merger Sub, Inc.  9 1and Keryx Biopharmaceuticals, Inc.* (incorporated4,by reference to Exhibit 2.1 to the Company?s1)Current Report on Form 8-K filed with the-%Securities and Exchange Commission onJune 28, 2018).333333$@1)Fifth Amendment to Office Lease Agreement.&Between CLPF-Cambridge Science Center,/'LLC and Akebia Therapeutics, Inc. dated'April 9, 2018 (filed herewith).ffffff$@/'Notes Conversion Agreement, dated as of80June 28, 2018, by and among Akebia Therapeutics,,$Inc., Keryx Biopharmaceuticals, Inc.:2and Baupost Group Securities, L.L.C. (incorporated5-by reference to Exhibit 10.1 to the Company?s1)Current Report on Form 8-K filed with the-%Securities and Exchange Commission onJune 28, 2018).D lth<$~1?LtPc o !"#$%&'()*+,-./0123456789:;<=>?   !?@!,!$Certification of Principal Executive""-"%Officer Required Under Rule 13a-14(a)##/#'of the Securities Exchange Act of 1934,$$$ as amended.%%&333333?@&,&$Certification of Principal Financial''-'%Officer Required Under Rule 13a-14(a)((/('of the Securities Exchange Act of 1934,))) as amended.**+ @@+,+$Certification of Principal Executive,,/,'Officer and Principal Financial Officer--7-/Required Under Rule 13a-14(b) of the Securities..0.(Exchange Act of 1934, as amended, and 18/// U.S.C. 1350.0001fffffX@141,Press Release issued by Akebia Therapeutics,2242,Inc. on August 8, 2018 (furnished herewith).3334X@444,Voting Agreement, dated as of June 28, 2018,5505(by and between Akebia Therapeutics, Inc.66:62and Baupost Group Securities, L.L.C. (incorporated7757-by reference to Exhibit 99.1 to the Company?s8818)Current Report on Form 8-K filed with the99-9%Securities and Exchange Commission on:::June 28, 2018).;;<101.INS<<XBRL Instance Document==>101.SCH>/>'XBRL Taxonomy Extension Schema Document??D9 lEe @OONNMM l  =  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } } $ } } $ } 0.      !Akebia Therapeutics, Inc. 10-Q 08/08/2018 SIGNATURES!AKEBIA THERAPEUTICS, INC.      Date: August 8, 2018  By:  /s/ John P. Butler     John P. Butler    - %President and Chief Executive Officer     Date: August 8, 2018 By:/s/ Jason A. AmelloJason A. Amello.&Senior Vice President, Chief FinancialOfficer and Treasurer$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8{o2Gn2EzR=PF0*8X> @" l   K  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } -} }       !Akebia Therapeutics, Inc. 10-Q 08/08/20182*Additional Premises Rent Commencement Date  RENTAL PERIOD MINIMUM ANNUAL RENT MONTHLY PAYMENT- %Additional Premises Rent Commencement~ *c (\1A Date- August 31, 2019) !September 1, 2019-August 31, 2020~ Td = ףĸA) !September 1, 2020-August 31, 2021~ e~ .v)!September 1, 2021-August 31, 2022~ f(\A)!September 1, 2022-August 31, 2023~ g= ף~SA)!September 1, 2023-August 31, 2024~ n*iA)!September 1, 2024-August 31, 2025~ _j(\A,$September 1, 2025-September 11, 2026~ Vk= ף8A$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4=sg[O+f6L@4 =PF0*8X> @ l  U  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } } $ } 0.      !Akebia Therapeutics, Inc. 10-Q 08/08/2018*"CLPF-CAMBRIDGE SCIENCE CENTER, LLC By:.&Clarion Lion Properties Fund Holdings,   L.P.,  ' a Delaware limited partnership,   its Sole Member  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/&@{ocW k_S+=PF0*8X> @ l  `  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } $ } } $ } -      !Akebia Therapeutics, Inc. 10-Q 08/08/2018*"CLPF-CAMBRIDGE SCIENCE CENTER, LLC By:CLPF-Holdings, LLC,   - %a Delaware limited liability company,    its General Partner  $ ____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/$p,{ocWyma9=PF0*8X> @  l  k  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } $ } } $ } -      !Akebia Therapeutics, Inc. 10-Q 08/08/2018*"CLPF-CAMBRIDGE SCIENCE CENTER, LLC By:-%Clarion Lion Properties Fund Holdings     REIT, LLC,   - %a Delaware limited liability company,    its Sole Member  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/&@{ocWp1%=PF0*8X> @ l  Ov  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } $ } } $ } <(      !Akebia Therapeutics, Inc. 10-Q 08/08/2018*"CLPF-CAMBRIDGE SCIENCE CENTER, LLC By:)!Clarion Lion Properties Fund, LP,   ' a Delaware limited partnership,    its Managing Member  $ ____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/$x,{ocWqeY1=PF0*8X> @  l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } $ } } $ } -      !Akebia Therapeutics, Inc. 10-Q 08/08/2018*"CLPF-CAMBRIDGE SCIENCE CENTER, LLC By:%Clarion Partners LPF GP, LLC,   - %a Delaware limited liability company,    its General Partner  $ ____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/$z,{ocWocW/=PF0*8X> @  l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } $ } } $ } -      !Akebia Therapeutics, Inc. 10-Q 08/08/2018*"CLPF-CAMBRIDGE SCIENCE CENTER, LLC By:Clarion Partners, LLC,   - %a New York limited liability company,    its Sole Member  $ ____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/$o,{ocWznb:=PF0*8X> @  l  W  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } $ } } $ }       !Akebia Therapeutics, Inc. 10-Q 08/08/2018*"CLPF-CAMBRIDGE SCIENCE CENTER, LLC By:/s/ Brian Collins  Name:   Brian Collins  Title:  Authorized Signatory  $ ____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/$b,{ocW{oG=PF0*8X> @  l  &  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } } $ } -      !Akebia Therapeutics, Inc. 10-Q 08/08/2018*"CLPF-CAMBRIDGE SCIENCE CENTER, LLCTENANT: # AKEBIA THERAPEUTICS, INC. , a Delaware corporation    By:  /s/ John P. Butler Name:John P. ButlerTitle:-%President and Chief Executive Officer By:/s/ Jason A. Amello Name:Jason A. AmelloTitle:Chief Financial Officer$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8{ocWD8[ R=PF0*8X> @2   l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } } } $ } 0.      !Akebia Therapeutics, Inc. 10-Q 08/08/2018OGCERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002Date: August 8, 2018 By:/s/ John P. Butler    John P. Butler   . &President, Chief Executive Officer and    Director   % (Principal Executive Officer) $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(QTVJ>2E =PF0*8X> @ l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomjgaraboakebiacom (1)U } } } $ } 0.      !Akebia Therapeutics, Inc. 10-Q 08/08/2018OGCERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002Date: August 8, 2018 By:/s/ Jason A. Amello    Jason A. Amello   . &Senior Vice President, Chief Financial    Officer and Treasurer   % (Principal Financial Officer) $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(`TVJ>2Cq=PF0*8X> @ l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)jgaraboakebiacomjgaraboakebiacom (1)U } } } $ } 0.      !Akebia Therapeutics, Inc. 10-Q 08/08/2018h`CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 (18 U.S.C. Section 1350)Date: August 8, 2018 By:/s/ John P. Butler    John P. Butler   . &President, Chief Executive Officer and    Director   % (Principal Executive Officer)    Date: August 8, 2018 By:/s/ Jason A. AmelloJason A. Amello.&Senior Vice President, Chief FinancialOfficer and Treasurer%(Principal Financial Officer)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6=1%,wQ=PF0*8X> @ l  $  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacom (1)U } 0} $ }  } $ }  } $ }  } $ }  } $ $     !Akebia Therapeutics, Inc. 10-Q 08/08/2018jgarabo@akebia.com             AKEBIA THERAPEUTICS, INC - %Consolidated Statements of Operations0 ((in thousands except share and per share data) (unaudited)  Three Months Ended  Six Months Ended June 30, 2018 June 30, 2017   June 30, 2018 June 30, 2017Collaboration revenue~ f~   ~   ~ Operating expenses:    Research and development~ c~    ~  &# ~ U"General and administrative~ ~ k   ~  P ~ V Total operating expenses~ '~    ~  t  ~ 6Operating loss~ ~ "   ~  T ~ rOther income, net~ ~     ~  ) ~ bNet loss~ ~ ʯ  ~  } ~ .&Net loss per share - basic and diluted333333(\   q= ףp (\0(Weighted-average number of common shares~ N ~ s    ~  *  ~ J|  - basic anddiluted   DQlsg; ~*7|  !"# $!____________________________1")Created by Morningstar Document Research.0#(http://documentresearch.morningstar.com/ <=PF0*8X> @##""!!            l  g  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,AKEBIA THERAPEUTICS INC!Registrant s telephone number iTable of Contents Balance SheetIncome Statement Cash FlowsBalance Sheet (1)!Cash Cash Equivalents and RestrProperty and Equipment!3 Strategic Collaborations and  3 Strategic Collaborations (1) 3 Strategic Collaborations (2) 3 Strategic Collaborations (3)!4 Available For Sale Securities!4 Available For Sale Securi (1)!4 Available For Sale Securi (2)!5 Fair Value of Financial Instr!5 Fair Value of Financial I (1)6 Accrued Expenses!Shares Reserved for Future Issu!StockBased Compensation Expense!StockBased Compensation Exp (1)Leases12 Net Loss per Share!Comparison of the Three Months !Research and Development Expens!Comparison of the Six Months En!Research and Development Ex (1)Cash Flows (1)Item 6 Exhibits SIGNATURES!Additional Premises Rent Commen!CLPFCAMBRIDGE SCIENCE CENTER LL!CLPFCAMBRIDGE SCIENCE CENTE (1)!CLPFCAMBRIDGE SCIENCE CENTE (2)!CLPFCAMBRIDGE SCIENCE CENTE (3)!CLPFCAMBRIDGE SCIENCE CENTE (4)!CLPFCAMBRIDGE SCIENCE CENTE (5)!CLPFCAMBRIDGE SCIENCE CENTE (6)!CLPFCAMBRIDGE SCIENCE CENTE (7)!CERTIFICATION PURSUANT TO SECTI!CERTIFICATION PURSUANT TO S (1)!CERTIFICATION PURSUANT TO S (2)jgaraboakebiacomU } 0} $ }  } $ }                             !Akebia Therapeutics, Inc. 10-Q 08/08/2018jgarabo@akebia.com! AKEBIA THERAPEUTICS, INC.# Selected Balance Sheet Data (in thousands)  (unaudited)        June 30, 2018December 31, 20170(Cash, cash equivalents and available for~ .~ esale securitiesWorking capital~ ~ B  Total assets~ VA~ ^;"Total stockholders' equity~  ~ :{$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8sg~*8", =PF0*8X> @Z      Root Entry FBook  <  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxy