Welcome to our dedicated page for Akero Therapeutics SEC filings (Ticker: AKRO), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
This page provides access to U.S. Securities and Exchange Commission (SEC) filings for Akero Therapeutics, Inc. (Nasdaq: AKRO), a clinical-stage company developing efruxifermin (EFX) for metabolic dysfunction-associated steatohepatitis (MASH) and related metabolic liver diseases. These regulatory documents offer detailed insight into Akero’s clinical programs, financial position, risk factors and corporate transactions.
Through its annual reports on Form 10-K and quarterly reports on Form 10-Q, Akero describes its business focus on serious metabolic diseases, outlines the design and objectives of the Phase 3 SYNCHRONY program, and discusses prior Phase 2b HARMONY and SYMMETRY results. Management’s discussion and analysis sections explain research and development spending, including costs associated with large global trials and manufacturing of clinical supplies for potential marketing applications.
Current reports on Form 8-K highlight material events. For example, Akero has filed an 8-K describing its Agreement and Plan of Merger with Novo Nordisk A/S and a wholly owned subsidiary of Novo Nordisk, under which Akero is expected to become a wholly owned subsidiary following stockholder approval and satisfaction of closing conditions. Another 8-K details the voluntary prepayment and termination of a prior loan agreement, providing context on changes in the company’s capital structure and debt obligations. Additional 8-K filings furnish quarterly earnings press releases and other significant updates.
Investors researching insider activity can review Forms 4 referenced in Akero’s proxy materials, which report changes in beneficial ownership by directors and executive officers. When available, proxy statements and related solicitation materials explain executive compensation, governance matters and, in connection with the proposed merger, information relevant to the stockholder vote. Stock Titan’s platform surfaces these filings as they are posted to EDGAR and adds AI-powered summaries to help readers interpret lengthy documents such as 10-Ks, 10-Qs, 8-Ks and proxy statements without having to parse every page manually.
Akero Therapeutics’ Chief Scientific Officer reported the completion of a merger in which Novo Nordisk A/S acquired Akero through a cash-and-contingent value right structure. At the effective time on December 9, 2025, each share of Akero common stock held by the officer was cancelled and converted into the right to receive $54.00 in cash plus one contractual contingent value right that may pay $6.00 in cash if a specified milestone is achieved.
The report also shows that the officer’s restricted stock units became fully vested at closing and were converted into the same merger consideration for each underlying share. All compensatory stock options to purchase Akero common stock, whether vested or unvested, were cancelled and converted into a cash payment based on the excess of the $54.00 cash price over each option’s exercise price, plus one contingent value right for each underlying share, in line with the merger agreement.
Akero Therapeutics, Inc. Chief Operating Officer Form 4 activity reports stock option exercises and a charitable gift of common stock. On 11/24/2025, the reporting person exercised three stock option grants, acquiring 4,284 shares at an exercise price of $21.09, 3,527 shares at $28.35, and 4,739 shares at $21.10. After these exercises, direct holdings increased, and following the reported transactions the person directly owned 200,189 shares of Akero common stock.
On 11/26/2025, the individual reported a transaction coded as a gift, transferring 9,259 shares of common stock at a reported price of $0 to a donor advised fund. In addition to direct ownership, the filing shows indirect ownership of 20,000 Akero shares in each of three irrevocable trusts for the benefit of the reporting person’s children, for a total of 60,000 indirectly held shares. The reporting person disclaims beneficial ownership of the trust-held securities, and notes that the stock options exercised are vested and currently exercisable.
Akero Therapeutics, Inc. insider ownership changed due to a charitable gift. The company’s President, CEO, and director reported donating 74,538 shares of Akero Therapeutics common stock as a gift to a donor advised fund on 11/20/2025. The transaction was reported with a price of $0, consistent with a non-cash charitable transfer rather than a market sale.
Following this gift, the reporting person directly beneficially owns 436,837 shares of Akero Therapeutics common stock. This Form 4 filing documents the change in beneficial ownership for regulatory disclosure purposes and does not describe any open-market purchase or sale.
Akero Therapeutics (AKRO) reported an insider stock gift by its Chief Scientific Officer. On 11/17/2025, the executive donated 37,100 shares of Akero common stock as a gift to a donor advised fund, with the transaction reported at a price of $0 per share, reflecting the non-sale nature of the transfer. After this charitable transfer, the reporting person beneficially owns 129,471 shares of Akero common stock in direct ownership form. This filing documents a change in the executive’s personal holdings without involving an open-market sale or purchase of shares.
Akero Therapeutics (AKRO) reported an insider transaction by its President and CEO, who is also a Director. On 11/12/2025, the insider made a bona fide charitable gift of 14,739 shares of common stock, reported as code G at a stated price of $0. Following the transaction, the insider’s beneficial ownership stands at 511,375 shares, held directly.
The explanation notes the recipient is a 501(c)(3)
Akero Therapeutics reported Q3 2025 results and operational updates. The company recorded a net loss of 81,566, driven by research and development expense of 78,883 and general and administrative expense of 11,353. Net loss per share was 0.99. For the nine months, net loss totaled 222,796.
Liquidity remained strong, with cash, cash equivalents, and marketable securities of 988,316 as of September 30, 2025. During 2025, Akero raised 378,350 in net proceeds from a follow-on offering and 10,361 via its ATM program, then terminated and repaid its Hercules term loan (35,000), recognizing a 1,557 loss on extinguishment. Stockholders’ equity rose to 957,637, with 80,149,218 shares outstanding at quarter-end; 82,316,179 were outstanding as of November 3, 2025.
Operationally, Akero is advancing EFX through its global Phase 3 SYNCHRONY program across three trials with planned enrollment of about 3,500 patients. The company announced an Agreement and Plan of Merger on October 9, 2025, under which it would become a wholly owned subsidiary of Novo, subject to completion. Management states current liquidity is expected to fund operations for at least 12 months from issuance.
Akero Therapeutics called a virtual special meeting for December 2, 2025 at 11:00 a.m. ET to ask stockholders to adopt its merger agreement with Novo Nordisk. If approved and completed, each Akero common share will be converted into the right to receive $54.00 in cash plus one contingent value right (CVR), subject to the CVR Agreement terms. The board unanimously recommends voting FOR the merger, an advisory executive compensation proposal, and a potential adjournment to solicit additional proxies.
Approval of the merger requires the affirmative vote of a majority of outstanding shares as of the November 7, 2025 record date. There were 82,324,445 shares outstanding; the majority threshold is 41,162,223 votes. As of November 6, 2025, Akero’s Nasdaq closing price was $53.91 per share.
Options in-the-money will be cashed out for the spread and one CVR per underlying share; RSUs vest and convert to cash at $54.00 per unit plus one CVR per unit. If the merger closes, Akero will become a wholly owned subsidiary of Novo and its stock will be delisted. If terminated under specified circumstances, Akero may owe a $165,000,000 termination fee, or be entitled to a $185,000,000 reverse termination fee from Novo.
Akero Therapeutics (AKRO) disclosed an insider transaction by its Chief Development Officer. On 11/04/2025, the officer exercised stock options and acquired 3,527 shares at $28.35 and 4,739 shares at $21.10 (code M). Following these transactions, the officer reported ownership of 74,800 shares, held directly.
A footnote states the reported amount was adjusted to correct a prior overstatement of common stock ownership. Another footnote confirms the options were vested and currently exercisable.
Akero Therapeutics called a virtual special meeting for stockholders to vote on adopting a Merger Agreement with Novo Nordisk, under which NN Invest Sub will merge into Akero and Akero will become a wholly owned subsidiary of Novo. If completed, each share of Akero common stock will be converted into the right to receive $54.00 in cash plus one contingent value right (CVR) tied to an Approval Milestone Payment under the CVR Agreement.
Akero’s board unanimously determined the transaction is advisable and fair and recommends voting FOR the Merger Proposal, the non-binding Compensation Proposal, and the Adjournment Proposal. Closing requires approval by a majority of outstanding shares. Appraisal rights are available for stockholders who comply with Delaware law procedures. Following closing, Akero’s shares will be delisted and deregistered.
Equity awards will be treated in cash at the Closing Consideration (plus a CVR per underlying share) as described, subject to exercise price mechanics. If the merger is not completed, Akero remains a standalone public company. The agreement includes a $165,000,000 termination fee payable by Akero in certain circumstances and a $185,000,000 reverse termination fee payable by Parent in specified cases.
Akero Therapeutics (AKRO) reported an insider transaction by its President and CEO, who is also a director. On 10/10/2025, the executive exercised 30,000 stock options at an exercise price of $19.87 per share and sold 30,000 shares of common stock at a $53.978 weighted-average price.
The transactions were effected under a Rule 10b5-1 trading plan dated August 16, 2024. Following the sale, the executive held 526,114 shares of common stock directly and 380,017 derivative securities (options) beneficially owned. The option grant vests in 48 equal monthly installments commencing on December 8, 2023.
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