Akero Looks To Double Its Cash Following Strong Phase IIb NASH Data

 
• By Joseph Haas
  
Generate a summary of this article
Listen to this article
Beta

Looking ahead to lengthy, expensive Phase III NASH studies, Akero looks to tap public markets for $200m. Analysts call EFX’s Phase IIb data potentially best-in-class.

Liver disease
Akero is raising significant funds to finance NASH Phase III plans • Source: Shutterstock

In the aftermath of successful Phase IIb data for efruxifermin (EFX) in pre-cirrhotic non-alcoholic steatohepatitis (NASH) and a heady increase in its share price, Akero Therapeutics, Inc. is looking to more than double its cash on hand via a follow-on public offering as prepares to launch a multi-trial Phase III NASH program. Akero priced an offering of 7.7 million shares at $26 each to gross $200m on 15 September, two days after reporting its Phase IIb HARMONY clinical trial results.

Following the reveal that EFX, an FGF21 analog, hit its primary endpoint of at least one stage of fibrosis reduction...

Scrip Podcast

Keep up with the top pharma business news of the week. On the go.

Scrip brings you a weekly bulletin of top picks.

SpotifyApple PodcastsWebsite

More from Strategy

More from Business

  • How A New Healthcare Dialogue Is Driving Market Access In Mexico

    Companies stand a better chance of securing public reimbursement in Mexico for innovative medicines if they understand changing approaches to healthcare. The shift means the emergence of managed entry agreements and a focus on economic impact, explains AMIIF, Mexico's research-based pharmaceutical industry association.

  • How Novartis Is Elevating CVD Outcomes, Driving ‘Personalized Access’ In APMA

    Novartis’s APMA chief outlines the company’s tailored approach to deliver long-term outcomes, novel access solutions via innovative financing options and shape the CVD disease ecosystem in the extraordinarily diverse region. Partnering to build AI infrastructure is another key prong.

  • India Rare Diseases: Court Shows Path For Policy Action, Funding, Price Issues-- Test-2

    A court order encompassing funding, drug pricing, clinical trials and overall policy implementation aspects is expected to bring about a paradigm shift in the treatment of rare diseases in India. Sarepta, Roche and Sanofi are among the key players that have been part of pricing discussions.