Akero Therapeutics pops after Pfizer stake

Hercules Capital

17/06/2022 19:17

** Akero Therapeutics Inc's  AKRO.O  shares up 18.8% at
$12.32, adding to big gain in prior session
    ** AKRO on Thurs closed up 22% at $10.37 after co announced
backing from drug giant Pfizer  PFE.N  as it develops treatment
for liver disorder nonalcoholic steatohepatitis (NASH)
 urn:newsml:reuters.com:*:nL1N2Y324H
    ** Pfizer investing $25 mln for ~6.7% stake in Akero
    ** Akero also inked $100 mln term loan facility with
Hercules Capital Inc  HTGC.N , to help stretch its cash runway
by a year to Q3 2024
    ** Akero went public in Jun 2019 IPO priced at $16
    ** YTD, shares now down 42% vs Nasdaq Biotech index's  .NBI 
~25% decline

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))