Akero Therapeutics, Inc.

Registration Deadline:

06/25/2024

A securities class action has been filed in the USDC N.D.CA. against Akero Therapeutics, Inc. (AKRO) (“Akero” or the “Company”), on behalf of all persons or entities who purchased or otherwise acquired Akero common stock between September 13, 2022 and October 9, 2023, both dates inclusive (the “Class Period”).

 

 Defendant Akero is a clinical stage biopharmaceutical company that was founded to develop transformational medicines for patients with serious metabolic diseases that lack effective treatment options. The Company is currently focused on advancing its lead product candidate efruxifermin (“EFX”), formerly known as AKR-001, to provide a new treatment for patients with nonalcoholic steatohepatitis, a serious liver disease.

 

The Complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:

(1) approximately 20% of the patients enrolled in the SYMMETRY study had cryptogenic cirrhosis and did not have definitive NASH at baseline;

(2) the cryptogenic cirrhotic patients included in the SYMMETRY study did not have biopsy-proven compensated cirrhosis due to definitive NASH;

(3) the results from the cryptogenic cirrhosis patients were to be excluded from the calculation of the NASH resolution secondary endpoints;

(4) Akero had introduced a confounding factor into the SYMMETRY study’s design, materially influencing the study’s potential results and increasing the risks that the study would fail to meet its primary endpoint;

(5) the SYMMETRY study did not align with U.S. Food & Drug Administration guidance for testing a drug in treating NASH cirrhotics because Akero had not ruled out potential causes of each patient’s cirrhosis other than NASH; and

(6) consequently, Akero had materially misrepresented the nature of the SYMMETRY trial, its usefulness in supporting any new drug application, the likelihood that the SYMMETRY trial would be successful as measured by its primary endpoint, and the likelihood that EFX would become a commercial treatment for NASH cirrhotics, thereby harming investors.

 

If you purchased Akero common stock during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

 

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.

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