Key points:
- Akero Therapeutics (AKRO) stock soared 123.5% on Phase 2b trial results.
- The stock rallied higher on the upbeat trial results for its lead drug.
- So, should you buy AKRO stock? Read on to find out.
The Akero Therapeutics Inc (NASDAQ: AKRO) stock price soared 123.5% after releasing positive Phase 2b clinical trial results from the study to evaluate the efficacy and safety of its lead drug candidate, efruxifermin (EFX), in patients with pre-cirrhotic nonalcoholic steatohepatitis (NASH), and fibrosis stage 2 or 3.
The results showed that the study met its primary endpoints in the groups receiving 50mg and 28mg doses of EFX, with 41% and 39% of patients treated with EFX in each group showing at least a one-stage improvement in liver fibrosis.
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The two cohorts also showed no worsening of NASH by week 24 compared to 20% for those patients on a placebo. The study went further to achieve its secondary endpoints, with 76% and 47% of patients treated with 50mg and 28mg, respectively, achieving NASH resolution without their fibrosis worsening compared to 15% for those on a placebo.
Furthermore, 41% and 29% of patients treated with 50mg and 28mg, respectively, achieved both endpoints – fibrosis improvement greater than or equal to 1 stage and NASH resolution – against the 5% of patients on the placebo.
The study results met other secondary endpoints by demonstrating statistically significant effects in both dosage groups, including improvements in liver fat, lipoproteins, liver enzymes, HbA1c, non-invasive fibrosis markers, and body weight.
EFX was also generally well-tolerated, with the tolerability profile very similar to that seen in Akero’s Phase 2a BALANCED study. EFX was also well tolerated across both dose groups. The company expects to report the results of an ongoing Phase 2b SYMMETRY study in H2 2023.
Investors cheered today’s announcement, as evidenced by the rally in Akero’s share price. However, the question remains, should you buy Akero shares after today’s rally? The short answer is no; chasing a higher stock is never a good idea.
*This is not investment advice.
Akero Therapeutics stock price.
The Akero Therapeutics stock price soared 123.55% to trade at $27.43, rising from Monday’s closing price of $12.27.
