Akero slides as NASH drug fails to meet main goal in study

Akero Therapeutics

10/10/2023 15:25

(Updates)
    ** Shares of Akero Therapeutics  AKRO.O  decline 64% to hit
an over 1-year low of $17.26
        ** Stock on track for its biggest one-day pct loss ever
  
    ** Co says its lead drug candidate, efruxifermin, did not
meet the main goal in a mid-stage study testing it in patients
with a severe type of fatty liver disease 
        ** About 22% to 24% of study patients with nonalcoholic
steatohepatitis (NASH) on the drug experienced at least one
stage of improvement in liver scarring at the end of 36 weeks
depending on the dosage vs 14% of patients on placebo
  
        ** AKRO says the results were not statistically
significant 
  
    ** NASH is a form of nonalcoholic fatty liver disease,
characterized by the organ developing fibrosis or scarring,
which can progress to cirrhosis and liver failure
    ** Co plans to go ahead with a longer late-stage trial in
NASH patients even with cirrhosis or liver scarring
    ** Up to last close, AKRO shares down 11.4% YTD

 (Reporting by Mariam Sunny and Bhanvi Satija in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))