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STOCK-BASED COMPENSATION AND EMPLOYEE RETIREMENT PLANS (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of Equity Plans
The following table contains information about the Company's equity incentive plans:
December 31, 2025December 31, 2024
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
Common stock options and RSUs
148,860 — 163,765 — 
Akebia Therapeutics, Inc. 2014 Incentive Plan, as amended (2) (3)
(the 2014 Plan)
(replaces 2008 Plan)
Employees, directors, consultants and advisors
Common stock options, RSUs, SARs and performance awards
8,412,898 — 11,559,708 — 
Akebia Therapeutics, Inc. 2023 Stock Incentive Plan, as amended(3) (the 2023 Plan)
(replaces 2014 Plan)
Employees, officers, directors, consultants and advisors
Common stock options, SARs, restricted stock, unrestricted stock, RSUs, performance awards, other share-based awards and dividend equivalents
15,913,729 24,723,655 10,390,642 11,340,648 
(1)     The Keryx Equity Plans consist of the Keryx Biopharmaceuticals, Inc. 1999 Share Option Plan, Keryx Biopharmaceuticals, Inc., 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: 1,050,525 options outstanding under the 2014 Plan and 3,034,085 options outstanding under the 2023 Plan as of December 31, 2025 and 1,151,127 options outstanding under the 2014 Plan and 2,534,775 options outstanding under the 2023 Plan as of December 31, 2024.
(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 year ended December 31, 2025, is as follows:
 Stock OptionsWeighted-Average
Exercise Price		Weighted-Average
Contractual Life
(years)		Aggregate Intrinsic Value
(in thousands)
Outstanding, December 31, 202416,684,325 $3.19 7.17 years$6,797 
Granted5,464,077 $2.48 
Exercised(1,205,853)$1.40 
Expired(1,165,336)$8.67 
Canceled and forfeited(1,624,955)$1.99 
Outstanding at December 31, 202518,152,258 $2.85 6.97 years$3,690 
Exercisable at December 31, 20259,819,097 $3.56 5.59 years$2,624 
Vested and expected to vest at December 31, 202518,152,258 $2.85 6.97 years$3,690 
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, 2024
1,321,423 $0.954,108,367 $1.59
Granted— $0.004,492,000 $2.31
Vested(849,701)$1.06(1,636,898)$1.55
Forfeited and canceled(141,100)$0.98(970,862)$1.89
Unvested as of December 31, 2025
330,622 $0.635,992,607 $2.09
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:
 Years ended December 31,
Common Stock Options
202520242023
Risk-free interest rate3.67%-4.38%3.60%-4.66%3.54%-4.81%
Expected volatility111.61%-123.58%109.98%-119.81%100.97%-111.71%
Expected term (years)5.51-6.255.51-6.255.51-6.25
Expected dividend yield —%—%—%
Weighted average grant date fair value
$2.14$1.36$0.69
Schedule of Stock-Based Compensation Expense in Consolidated Statement of Operations and Comprehensive Loss
The Company has classified stock-based compensation in its consolidated statements of operations and comprehensive loss as follows (in thousands):
 Years ended December 31,
 202520242023
Cost of goods sold$683 $399 267 
Research and development2,120 1,498 1,964 
Selling, general and administrative8,480 5,840 6,456 
Restructuring— 38 630 
Total$11,283 $7,775 $9,317 
Schedule of Stock-Based Compensation Expense by Type of Award
Stock-based compensation by type of award was as follows (in thousands):
 Years ended December 31,
 202520242023
Stock options$5,356 $4,036 $5,310 
Restricted stock units5,214 3,655 3,637 
Performance RSUs545 — 297 
Employee stock purchase plan168 84 73 
Total$11,283 $7,775 $9,317