Akero Therapeutics (NASDAQ:AKRO) added 2.2% after UBS initiated Akero with a buy rating and a price target that implies sharp gains ahead. UBS thinks the company’s treatment for non-alcoholic steatohepatitis could create an underappreciated market opportunity worth more than $20 billion.
The San Francisco-based drug maker was in the news Monday with word a clinical-stage company developing transformational treatments for patients with serious metabolic diseases marked by high unmet medical need, today announced that all samples and data required for a readout of topline results from the Phase 2b SYMMETRY study have been collected, which supports the expected timing of readout in October of this year.
The topline week 36 results from the study, evaluating treatment of patients with compensated cirrhosis due to non-alcoholic steatohepatitis (NASH), will include histology and changes from baseline in non-invasive measures of fibrosis, glycemic control, and lipoproteins as well as safety and tolerability.
Akero plans to hold an investor webcast detailing the findings.
The Phase 2b SYMMETRY main study is a multicenter, randomized, double-blind, placebo-controlled, clinical trial in biopsy-confirmed NASH patients with compensated cirrhosis (F4, Child-Pugh class A). One hundred eighty-two patients have been randomized to receive once-weekly subcutaneous dosing of 28mg efruxifermin (EFX), 50mg EFX, or placebo.
AKRO shares leaped $2.90, or 6.1%, to $50.88.
