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Dec 31, 2022
Akero Q4 2022 Earnings Report
Akero Therapeutics reported its financial results for Q4 2022, highlighting the progress of efruxifermin (EFX) and its ongoing clinical trials.
Key Takeaways
Akero Therapeutics reported fourth quarter and full year financial results for the period ending December 31, 2022. The company's cash, cash equivalents and short-term marketable securities were $351.4 million. Research and development expenses for the quarter were $18.3 million, while general and administrative expenses were $7.1 million. Total operating expenses for the quarter were $25.4 million.
Akero remains on track to report Week 36 results of the Phase 2b SYMMETRY main study in adult patients with cirrhotic NASH (F4, compensated) in the fourth quarter of 2023.
Akero remains on track to report results of Cohort D in the second quarter of 2023.
Cash, cash equivalents and short-term marketable securities were $351.4 million.
Akero believes that its cash, cash equivalents and short-term marketable securities will be sufficient to fund its current operating plan into 2025.
Akero
Akero
Forward Guidance
Akero is on track to report Week 36 results of the Phase 2b SYMMETRY main study in adult patients with cirrhotic NASH (F4, compensated) in the fourth quarter of 2023 and to report results of Cohort D in the second quarter of 2023.
Positive Outlook
- On track to report Week 36 results of the Phase 2b SYMMETRY main study in adult patients with cirrhotic NASH (F4, compensated) in the fourth quarter of 2023.
- On track to report results of Cohort D in the second quarter of 2023.
- Expansion cohort of the Phase 2b SYMMETRY evaluating safety and tolerability of EFX compared to placebo, when dosed for 12 weeks on top of an existing GLP-1 receptor agonist in patients with pre-cirrhotic NASH (F1-F3 fibrosis) and Type 2 diabetes.
- EFX's Breakthrough Therapy Designation in December further validate EFX's potential to address high, global unmet need for patients living with NASH.
- Akero believes that its cash, cash equivalents and short-term marketable securities will be sufficient to fund its current operating plan into 2025.