Akero Therapeutics Stock Price, News & Analysis

Akero Therapeutics (Nasdaq: AKRO) reported its Q3 2022 financial results, highlighting promising Week 24 outcomes from the Phase 2b HARMONY study for EFX in pre-cirrhotic NASH. Key findings include 41% of patients on 50mg EFX showing fibrosis improvement, double the placebo rate. The company raised approximately $230 million in a recent public offering and believes its cash reserves will support operations until 2025. Operating expenses rose to $36.1 million, up from $24.4 million in Q3 2021, primarily due to increased R&D costs.

Akero Therapeutics (Nasdaq: AKRO) announced its participation in the H.C. Wainwright 6th Annual NASH Virtual Investor Conference on October 17, 2022, at 12:00 p.m. E.T. The webcast will be accessible via the company's investor relations website, with an archived replay available afterward.

Akero is focused on developing innovative treatments for serious metabolic diseases, particularly non-alcoholic steatohepatitis (NASH), which currently has no approved therapies. Their lead candidate, efruxifermin (EFX), shows promise as a potential best-in-class option for NASH treatment.

Akero Therapeutics (AKRO) has successfully closed its upsized public offering, issuing 8,846,154 shares at $26.00 each, raising approximately $230 million in gross proceeds. This offering included the full exercise of an underwriters' option for an additional 1,153,846 shares. J.P. Morgan, Morgan Stanley, and Jefferies managed the offering with Canaccord Genuity as a lead manager. The company is focused on developing treatments for serious metabolic diseases, notably NASH, with its lead candidate, efruxifermin (EFX), currently in two Phase 2b trials.

Akero Therapeutics (Nasdaq: AKRO) has announced an upsized public offering of 7,692,308 shares at a price of $26.00 per share, aiming to raise approximately $200 million. The underwriters have a 30-day option to purchase an additional 1,153,846 shares. The offering is set to close on or around September 19, 2022, subject to customary conditions. J.P. Morgan, Morgan Stanley, and Jefferies serve as joint book-running managers. Proceeds are intended to advance Akero's clinical development pipeline, particularly for its lead product candidate, efruxifermin, targeting serious metabolic diseases.

Akero Therapeutics (Nasdaq: AKRO) has announced an underwritten public offering of $175 million in shares of its common stock, with an option for underwriters to purchase an additional $26.25 million. This offering is part of the company's strategy to develop treatments for serious metabolic diseases, including non-alcoholic steatohepatitis (NASH). The offering is subject to market conditions and involves major underwriters including J.P. Morgan and Morgan Stanley. An effective shelf registration statement has been filed with the SEC for this purpose.

Akero Therapeutics (Nasdaq: AKRO) announces significant topline results from its Phase 2b HARMONY study of efruxifermin (EFX) for nonalcoholic steatohepatitis (NASH) treatment.

Patients receiving 50mg and 28mg doses showed notable improvements: 41% and 39% had fibrosis improvement, and 76% and 47% achieved NASH resolution, far surpassing placebo rates. Additionally, EFX led to better liver fat, enzyme control, and weight management.

Results signal strong potential for EFX in addressing NASH, a major health crisis, with detailed discussions in an investor webcast.

Akero Therapeutics will host an investor webcast on September 13, 2022, at 8:00 a.m. ET to present clinical data from the Phase 2b HARMONY study. This study assesses the effectiveness of efruxifermin (EFX) in patients with pre-cirrhotic non-alcoholic steatohepatitis (NASH). The trial involved 128 patients and seeks to measure improvements in liver fibrosis and other related health metrics. Despite being a potentially best-in-class treatment for NASH, no approved therapies currently exist for this condition.

Akero Therapeutics (Nasdaq: AKRO) announced promising results from its Phase 2a BALANCED trial on efruxifermin (EFX) for treating non-alcoholic steatohepatitis (NASH) patients with cirrhosis. The results showed that 33% of patients improved by one fibrosis stage without worsening NASH, and 25% achieved NASH resolution. EFX was well-tolerated and led to significant decreases in liver stiffness and serum markers of fibrosis. Upcoming data from the Phase 2b HARMONY and SYMMETRY studies are highly anticipated, further highlighting EFX's potential.

Akero Therapeutics (Nasdaq: AKRO) reported its Q2 2022 results, highlighting a $25 million equity investment from Pfizer and a $100 million loan from Hercules Capital to advance efruxifermin (EFX) development. Cash reserves totaled $180.7 million, expected to fund operations until Q3 2024. Key clinical trial updates include upcoming results from the Phase 2b HARMONY study in September and the SYMMETRY study anticipated in late 2023. Research and development expenses for Q2 were $21.4 million, down from $24 million year-over-year.