NEW YORK, April 16, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Akero Therapeutics, Inc. (“Akero” or the “Company”) (NASDAQ: AKRO). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Akero and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On October 10, 2023, Akero posted disappointing interim data from its Phase 2b SYMMETRY trial for its lead candidate efruxifermin (“EFX”) in patients with liver disorder nonalcoholic steatohepatitis (“NASH”). Specifically, the Company stated that 22% (28mg) and 24% (50mg) of those on EFX and 14% on placebo indicated at least one stage improvement in fibrosis with no worsening of NASH at week 36, the trial's primary endpoint, but that these changes were not statistically significant. In addition, Akero added that 12 patients, including 11 in EFX groups, discontinued the trial due to drug-related adverse events.
On this news, Akero’s stock price fell $30.39 per share, or 62.61%, to close at $18.15 per share on October 10, 2023.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
