AKRONASDAQ

Akero Therapeutics

Akero Therapeutics, Inc. · South SF, CA · founded 2017

Akero Therapeutics is a South San Francisco single-asset biotech focused on metabolic dysfunction-associated steatohepatitis (MASH). Its lead drug efruxifermin (EFX) is an engineered analog of fibroblast growth factor 21 (FGF21) — a hormone that helps regulate fat metabolism — administered once weekly via injection, with Phase 3 trials underway in both pre-cirrhotic and cirrhotic MASH.

Lead asset: efruxifermin · Ph3 · MASH (NASH); biologic · FGF21 analog Fc-fusion
Pipeline: 1 drug · 1 program; 1 NASH / MASH
Modalities: biologic×1

FocusNASH / MASH

Last refresh · 21d ago · PR

$33.00-17.36%1Y

AKRO · daily close · illustrative · 1 catalyst marked

Enroll.+6%

1Y high$40.371Y low$33.00range$7.37(22%)past catalysts

Peers in this space

same sector or modality · sorted by match strength + market cap

NASH / MASHsmall molecule

1 programmatch: sector

1 programmatch: modality

Pipeline & catalysts

1 drug · 1 programs · 2 upcoming catalysts

Pipeline by phase1programs

Preclin0
Ph10
Ph20
Ph31
Filed0
Approved0

efruxifermin

biologicFGF21 analog Fc-fusion

MASH (NASH)

Phase 3

1 program·1 trial·View drug →

Upcoming catalysts2

Conf.MAY 062026·6 daysEXACT

Efruxifermin Cirrhotic MASH Data — EASL Congress

Late-breaking efruxifermin data in compensated cirrhotic (F4) MASH patients at EASL. REZDIFFRA is not approved in cirrhotics. Watch: % achieving ≥1-stage fibrosis improvement, no-MASH-worsening rate.

Cited“A late-breaking oral presentation of efruxifermin data in compensated cirrhotic MASH patients is scheduled for the EASL Congress on May 6, 2026.”

Conference Data·PR·disclosed 21d ago·NCT04880421n=1,650

InterimQ1'27·8 monthsQTR

Efruxifermin SYMMETRY Phase 3 Interim (MASH)

Pre-specified Phase 3 interim for efruxifermin (FGF21 analog) in compensated cirrhotic MASH. REZDIFFRA (the only approved MASH drug) is not approved in cirrhotic patients. Watch: ≥1-stage fibrosis improvement without MASH worsening at week 36.

Cited“The pre-specified Phase 3 SYMMETRY interim analysis is expected in the first quarter of 2027.”

Interim Analysis·PR·disclosed 21d ago·NCT04880421n=1,650

Past catalyst impact

4 historical events · % change vs announcement

DateKindEventOutcome+1W+1M+6M

Dec 26, 2025Enroll.efruxifermin — Pivotal Enrollment CompletePositive+6.0%+3.8%+6.1%

Mar 31, 2025PDUFAefruxifermin — PDUFA — ApprovedNegative-19.3%-28.4%-43.4%

Feb 5, 2024AdComefruxifermin — Advisory Committee — 12–2 Vote in FavorPositive+16.4%+29.7%+11.5%

Oct 8, 2023Readoutefruxifermin — Phase 3 Topline — Mixed ResultNegative-41.5%-32.0%-27.1%

% change vs ticker close on the announcement date · backtest illustrative

Smart money

Insider activity

SEC EDGAR Form 4 · last 90 days

Insider activity · last 90 days

Form 4 trail · 6 transactions · 6 insiders

4 near a catalyst

Net flow

+$566.1K

Buys

$1.4M

4 txns

Sells

$848.2K

1 txns

Largest

−$848.2K

CEO sell

Net flow per quarter · last 8Q

9 txns · sum +$892K

24Q324Q425Q125Q225Q325Q426Q126Q2

buys · $1.74Msells · $848K

Insider · roleActionSharesPriceValueDate

N. Morais

CFO

Buy11,938$21.89+$261.3K

Apr 25, 2026

11d to catalyst

M. Patel

CEO

Sell31,322$27.08−$848.2K

Apr 24, 2026

12d to catalyst

C. Müller

EVP

Option ex.5,062$19.81$100.3K

Apr 22, 2026

E. Schwarz

Director

Buy14,832$21.94+$325.5K

Mar 18, 2026

49d to catalyst

D. Mendoza

CEO

Buy29,441$26.89+$791.5K

Feb 27, 2026

P. Andersson

Director

Buy1,570$22.96+$36.1K

Feb 11, 2026

Congressional trading

STOCK Act PTRs · House & Senate

Congressional trading · STOCK Act · last 365d

5 trades · 5 members

2 near a catalyst

Est. net flow

−$842K

midpoint · brackets only

Buys

Sells

Party mix

2 D3 R

Member · chamberActionBracket~ midpointOwnerDate · disclosure

Sen. B. Tucker

Senate · TN

Buy$1K–$15K~$8Kjoint

Apr 7, 2026

filed +17d

29d to catalyst

Rep. G. Ostrom

House · OH

Sell$500K–$1.00M~$750Kself

Mar 13, 2026

filed +33d

54d to catalyst

Rep. J. Calhoun

House · GA

Buy$1K–$15K~$8Kspouse

Oct 28, 2025

filed +2d

Rep. H. Patel

House · IL

Sell$15K–$50K~$33Kself

Jun 3, 2025

filed +11d

Sen. E. Mendoza

Senate · AZ

Sell$50K–$100K~$75Kself

May 15, 2025

filed +34d

Source: Senate eFD & House Clerk PTR feeds · members must disclose within 45 days · midpoints reflect bracket midpoint, not actual transaction value

Top ETF holders

ETF NAV disclosures · 13F filings

ETF holders · NAV disclosures

3 ETFs hold the position

Held by ETFs

$14.9M

aggregate position

Of market cap

0.62%

aggregate ETF share

Top holder

IBB0.16%

iShares Biotechnology ETF

TickerETF · familyThemeNAV% of NAVPosition

IBB

iShares Biotechnology ETF

iShares

Broad biotech$8.40B0.16%$13.4M

BBC

Virtus LifeSci Biotech Clinical Trials

WisdomTree

Small-cap biotech$60.0M1.70%$1.0M

SBIO

ALPS Medical Breakthroughs ETF

First Trust

Small-cap biotech$110.0M0.43%$473K

Source: ETF NAV disclosures + quarterly 13F filings · narrow-theme ETFs disclose holdings daily; broad ETFs quarterly · % of NAV is the position weight inside the fund

KOL network

CMS OpenPayments · 2024 – 2025

KOL network · CMS OpenPayments

12 physicians paid · 50 disclosed records

Total 2025+2024

$2.84M

YoY

+66%

Research Grant$997.1KCo-Investigator$953.8KEquity / Ownership$523.8KConsulting$183.5KSpeaking$155.8KTravel & Lodging$20.0KFood & Beverage$2.0K

Physician · affiliationSpecialtyTop categoryTotalRecords

Dr. Theo Walsh

University of Washington

NeuromuscularResearch Grant$618.5K5

Dr. Charles Greene

Yale Medical

NeurologyCo-Investigator$520.9K4

Dr. Vivian Walsh

Vanderbilt

NeuromuscularResearch Grant$470.7K7

Dr. Vivian Park

Penn Medicine

NeurologyCo-Investigator$399.4K7

Dr. Yuki Müller

Yale Medical

NeurologyCo-Investigator$199.9K3

Dr. James Murphy

University of Washington

NeuromuscularEquity / Ownership$194.0K7

Dr. James Mendoza

Vanderbilt

NeuromuscularEquity / Ownership$162.1K4

Dr. Charles Tanaka

Mayo Clinic

NeuromuscularEquity / Ownership$160.1K2

Dr. Sofia Murphy

NYU Langone

NeurologyEquity / Ownership$57.9K4

Dr. Sofia Andersson

Cedars-Sinai

NeuromuscularSpeaking$27.6K2

Source: CMS OpenPayments · quarterly drops · physicians identified by NPI · aggregated across all programs

Government & IP

Federal lobbying

Senate LDA disclosures · last 8 quarters

Federal lobbying · LDA · last 8 quarters

$626K disclosed · 3 firms engaged

YoY change

+28%

last 4Q vs prior 4Q

24Q3Q425Q1Q2Q3Q426Q1Q2

Top lobbying firms · last 8Q

Squire Patton Boggs$246K

5 quarters active

Invariant$231K

5 quarters active

Mehlman Castagnetti$149K

4 quarters active

Top issues lobbied

Rare Pediatric Disease Priority Review Voucher$246K
Medicare coverage for CAR-T$231K
Rare Cancer Funding Act$149K

Source: Senate LDA database (lda.senate.gov) · quarterly registrant filings · spend is the company-wide total disclosed

Government contracts

USAspending.gov · BARDA · NIH · DoD · HHS · VA

Federal contracts · USAspending.gov

1 award · 1 agency

Total awarded

$1.2M

across all programs

Active

$1.2M

option periods incl.

Top agency

NIH / NCI$1.2M

largest active: Rare Cancer Translational Research Grant

AgencyTitle · type · award IDStatusValueAwarded → ends

NIH / NCI

Rare Cancer Translational Research Grant

Grant · NIH-40125372

active$1.2MNov 2025→ Feb 2027

Source: USAspending.gov · SAM.gov · every federal contract / grant / cooperative agreement is public · values are obligated awards (may include option periods)

U.S. Patents

USPTO PEDS & Patent Public Search

U.S. Patents · USPTO

3 granted · 1 pending

Total in portfolio

Granted in last 12mo

Expiring < 2yr

Nearest expiry

Apr 2039

Patent #Title · inventor · drugTypeStatus · filedExpiry

US 2024/3349357 A1

Pre-filled syringe formulations comprising efruxifermin

R. Reyes · efruxifermin

Formulation

pendingfiled Apr 2024

in prosecution

10,994,647

Pre-filled syringe formulations comprising efruxifermin

P. Kowalski + 3 · efruxifermin

Formulation

grantedfiled Apr 2019

exp. Apr 2039

13.0y left

11,760,253

Gene therapy delivery system for efruxifermin

S. Schwartz + 4 · efruxifermin

Device

grantedfiled Apr 2020

exp. Apr 2040

14.0y left

10,890,279

Purification methods for efruxifermin

T. Hoffman + 4 · efruxifermin

Process

grantedfiled Apr 2019

exp. Apr 2039

13.0y left

Source: USPTO PEDS & Patent Public Search · composition-of-matter is the headline asset · expiration = 20 years from filing

News

PR wires · biotech trades · company IR · last 90 days

News · last 90 days

5 items from 5 categories

regulatory1clinical1corporate1partnership1earnings1

18d ago

AKRO receives Orphan Drug Designation for efruxifermin

FierceBiotech·regulatory

2mo ago

AKRO doses first patient in Phase 3 efruxifermin study

Endpoints News$·clinical

2mo ago

AKRO expands manufacturing capacity at lead facility

Business Wire·corporate

2mo ago

AKRO closes ex-U.S. rights deal worth $4.4 billion in milestones

PR Newswire·partnership

3mo ago

AKRO provides quarterly cash position and operating runway update

Business Wire·earnings

Sources: PR wires + biotech-trade publications + company IR · paywalled outlets ($) link to publisher · we never paraphrase the headline

Financials

snapshot · sourced to filings · refreshed at next 10-Q

Trading

Previous close

$33.00

Open

$32.90

Day Δ

+0.10

+0.30%

Day range

$32.67 – $33.23

52W range

$33.00 – $40.37

Avg daily volume

524K

Valuation & ownership

Enterprise value

$2.0B

Shares out

72.73M

Float

66.91M

Insider %

11.11%

Institutional %

56.11%

Beta

1.61

vs SPY · 52w

Balance sheet & burn

Cash + invest

$858M

Total debt

$111M

Debt / equity

7.11

Cash burn / Q

$67M

R&D spend TTM

$241M

28% of cash

ATM available

None

no active facility

Earnings

EPS latest

$-0.66

EPS Δ vs prior

+0.11

EPS estimate

$-0.75

next quarter

EPS prior

$-0.77

Next earnings

Jul 3, 2026

Rev guidance

$14M

All values reflect the most recent 10-Q / 10-K filing or seeded equivalent. Beta, IV, short interest, and borrow availability are derived from broker-feed conventions. Upgrade to Pro for live updates.

Recent disclosure activity

last 2 observations

21d agoefruxiferminEfruxifermin SYMMETRY Phase 3 Interim (MASH)MedPR

21d agoefruxiferminEfruxifermin Cirrhotic MASH Data — EASL CongressHighPR