In a recent transaction disclosed by Akero Therapeutics, Inc. (NASDAQ:AKRO), Yale Catriona, the company's Chief Development Officer, sold 10,000 shares of common stock. The shares were sold at a weighted-average price of $35.189, amounting to a total of $351,890. This transaction was part of a pre-established trading plan under Rule 10b5-1.
Additionally, Catriona exercised stock options to acquire 10,000 shares at a price of $0.615 per share, which were subsequently sold. Following these transactions, Catriona holds 74,158 shares of Akero Therapeutics common stock.
In other recent news, Akero Therapeutics maintains a positive trajectory with its ongoing SYNCHRONY Outcomes trial, a significant development for the company. H.C. Wainwright reaffirmed their Buy rating for Akero, mirroring the progress of the company's Phase 3 trial for a treatment aimed at MASH patients with compensated cirrhosis. The trial is evaluating the efficacy of efruxifermin (EFX) in patients at fibrosis stage 4 (F4).
The SYNCHRONY Outcomes trial plans to enroll approximately 1,150 F4 MASH patients. The primary endpoint of the trial's first cohort is to assess fibrosis regression without worsening of MASH after a 96-week treatment period. The trial will also monitor patients to evaluate primary outcomes related to mortality and liver-related clinical events.
Additionally, the trial will track secondary endpoints such as changes in non-invasive markers of liver injury and fibrosis, improvements in glycemic control, and lipid levels. Investors are keenly awaiting the Week 96 data release from the ongoing Phase 2b SYMMETRY study, expected in the first quarter of 2025. This data will offer insights into the long-term effects of EFX on F4 MASH patients, marking a crucial milestone for Akero and its EFX treatment.
InvestingPro Insights
Akero Therapeutics, Inc. (NASDAQ:AKRO) has been experiencing significant momentum in the market, as evidenced by its impressive stock performance. According to InvestingPro data, the company's 1-year price total return stands at a remarkable 131.54%, with a 6-month return of 65.89%. This upward trajectory aligns with the recent insider transaction, potentially signaling confidence in the company's prospects.
The company's market capitalization is currently $2.42 billion, reflecting its position in the biotech sector. While Akero is not yet profitable, as indicated by its negative P/E ratio of -11.53, this is not uncommon for development-stage biopharmaceutical companies focusing on breakthrough therapies.
An InvestingPro Tip suggests that Akero's stock price is near its 52-week high, currently at 93.11% of that peak. This could be interpreted as a sign of strong market sentiment towards the company's potential. Another InvestingPro Tip notes that analysts have revised their earnings expectations upwards for the upcoming fiscal year, which may be contributing to the positive stock performance.
For investors seeking a deeper understanding of Akero's financial health and market position, InvestingPro offers 11 additional tips that could provide valuable insights into the company's prospects and valuation.
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