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Dec 31, 2024
Akero Q4 2024 Earnings Report
Akero Therapeutics reported its fourth quarter and full year 2024 financial results, highlighting significant progress in clinical trials and financial stability.
Key Takeaways
Akero Therapeutics reported a net loss of $70.024 million for Q4 2024, compared to a net loss of $55.186 million in Q4 2023. The company's total assets increased to $825.886 million, up from $580.271 million in the previous year. Research and development expenses saw a notable increase, reflecting advancements in their clinical programs.
Reported unprecedented, statistically significant reversal of compensated cirrhosis (F4) due to MASH after 96 weeks of treatment with efruxifermin (EFX) in Phase 2b SYMMETRY study.
Completed enrollment of the double-blinded portion of the Phase 3 SYNCHRONY Real-World Study evaluating EFX in patients with either MASLD or MASH.
Cash, cash equivalents, and short-term marketable securities totaled $797.8 million at year-end 2024, with an additional $402.5 million raised in January 2025.
Total operating expenses for Q4 2024 were $78.025 million, an increase from $61.873 million in Q4 2023, driven by higher R&D and personnel costs.
Akero
Akero
Forward Guidance
Akero Therapeutics is committed to advancing EFX as a potential therapeutic breakthrough for individuals living with advanced MASH, building on positive clinical trial results and strong financial positioning.
Positive Outlook
- Anticipates continued progress in the Phase 3 SYNCHRONY program, including Histology, Outcomes, and Real-World studies.
- Expects to report 52-week results for primary histology endpoints from the SYNCHRONY Histology study during the first half of 2027.
- Preliminary topline results from SYNCHRONY Real-World study remain on track to be reported during the first half of 2026.
- Believes current cash, cash equivalents, and marketable securities are sufficient to fund operating plan into 2028.
- Continued evaluation of EFX's potential to improve outcomes for patients with pre-cirrhotic fibrosis and compensated cirrhosis.
Challenges Ahead
- The success, cost, and timing of product candidate development activities and planned clinical trials are subject to risks and uncertainties.
- Positive results from any clinical studies may not necessarily be predictive of future results.
- Regulatory developments in the United States and foreign countries could impact timelines and approvals.
- Akero's ability to fund operations is subject to various factors.
- Actual results may differ materially from forward-looking statements due to inherent risks and uncertainties.