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STOCK-BASED COMPENSATION PLANS (Tables)
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Schedule of Equity Incentive Plans
The following table contains information about the Company's equity incentive plans:
March 31, 2026December 31, 2025
Title of PlanGroup EligibleType of Award Granted (or to be Granted)Awards Outstanding
Additional Awards Available for Grant
Awards Outstanding
Additional Awards Available for Grant
Keryx Equity Plans(1)(2)
Employees, directors and consultants
Stock options and restricted stock units (RSUs)
91,696 — 148,860 — 
Akebia Therapeutics, Inc. 2014 Incentive Plan, as amended (2) (3)
(the 2014 Plan)
Employees, directors, consultants and advisors
Stock options, RSUs, stock appreciation rights (SARs) and performance awards
7,634,941 — 8,412,898 — 
Akebia Therapeutics, Inc. 2023 Stock Incentive Plan, as amended(3) (4) (the 2023 Plan)
(replaced 2014 Plan)
Employees, officers, directors, consultants and advisorsStock options, SARs, restricted stock, unrestricted stock, RSUs, performance awards, other share-based awards and dividend equivalents23,224,380 16,482,848 15,913,729 24,723,655 
(1)     The Keryx Equity Plans consist of the Keryx Biopharmaceuticals, Inc. 1999 Share Option Plan, as amended, the 2004 Long-Term Incentive Plan, as amended, the Keryx Biopharmaceuticals, Inc. 2007 Incentive Plan, the Keryx Biopharmaceuticals Inc. Amended and Restated 2013 Incentive Plan and the Keryx Biopharmaceuticals, Inc. 2018 Equity Incentive Plan.
(2)     New awards are no longer being granted under these plans.
(3)     This table includes the following inducement awards that are subject to the terms and conditions of the applicable plan but were granted as inducement awards consistent with Nasdaq Listing Rule 5635(c)(4) and not under the applicable plan: 956,825 options included as outstanding under the 2014 Plan in the table and 3,787,674 options included as outstanding under the 2023 Plan in the table as of March 31, 2026 and 1,050,525 options included as outstanding under the 2014 Plan and 3,034,085 options included as outstanding under the 2023 Plan in the table as of December 31, 2025.
(4)    On June 10, 2025, the 2023 Plan was amended to increase the number of shares of common stock available for issuance thereunder by 18,900,000 shares.
Schedule of Stock Option Activity
The combined stock option activity for the three months ended March 31, 2026, is as follows:
Stock
Options		Weighted Average Exercise PriceWeighted-Average Contractual Life (years) Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2025
18,152,258 $2.85 6.97 years$3,690 
Granted4,869,975 $1.41 — — 
Exercised(28,424)$0.71 — — 
Expired(593,220)$5.77 — — 
Canceled and forfeited(529,058)$1.78 — — 
Outstanding at March 31, 2026
21,871,531 $2.48 7.59 years$2,691 
Exercisable at March 31, 2026
10,605,986 $3.23 6.04 years$2,059 
Schedule of RSU and PSU Activity
RSU and PSU activity is as follows:
2014 Plan2023 Plan
Number of Shares
Weighted Average Grant Date Fair Value
Number of Shares
Weighted Average Grant Date Fair Value
Unvested as of December 31, 2025
330,622 $0.63 5,992,607 $2.09 
Granted— $— 5,426,300$1.41 
Vested(330,622)$0.63 (2,018,204)$2.01 
Forfeited and canceled— $— (321,217)$1.80 
Unvested as of March 31, 2026
— $— 9,079,486 $1.71 
Schedule of Assumptions Used in Black-Scholes Option Pricing Model The weighted-average assumptions used in calculating the fair values of the rights to acquire stock under the 2023 Plan, the 2014 Plan and inducement awards were as follows:                                         
 Three Months Ended March 31,
Common Stock Options
20262025
Risk-free interest rate3.61 %-4.00%4.00 %-4.38%
Expected volatility110.17 %-119.09%111.97 %-117.83%
Expected term (years)6.25 years-6.25 years6.25 years-6.25 years
Expected dividend yield —%—%
Weighted average grant date fair value
$1.21$1.92
Schedule of Stock-Based Compensation Expense in Consolidated Statement of Operations and Comprehensive Loss
The Company has classified stock-based compensation in its unaudited condensed consolidated statements of operations and comprehensive income (loss) as follows (in thousands):                                    
 Three Months Ended March 31,
 20262025
Cost of goods sold $197 $139 
Research and development1,056 467 
Selling, general and administrative 2,415 1,581 
Total stock-based compensation$3,668 $2,187