Akero Therapeutics reports Q1 EPS (90c), consensus (95c)

Reports cash, cash equivalents and short-term marketable securities as of March 31, $903.7M. “We continued to make significant advancements in the clinical development of EFX during the Q1 of this year,” said Andrew Cheng, president and CEO of Akero. “The increased improvements in fibrosis stage observed from weeks 24 to 96 in the Phase 2b HARMONY study in patients with pre-cirrhotic MASH (F2-F3) showed EFX’s potential to result in higher rates of fibrosis improvement after longer treatment. With over $900M in cash, cash equivalents, and short term marketable securities following a March 2024 equity offering, we are well-positioned to progress our Phase 3 SYNCHRONY program through primary endpoint readout for our two studies in patients with pre-cirrhotic MASH and fund Akero’s current operating plan into the second half of 2027.”