NASDAQ$AKRO
Akero Therapeutics Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Akero Therapeutics reported financial results and provided a business update, highlighting the initiation of the Phase 3 SYNCHRONY Outcomes trial of Efruxifermin (EFX) and expansion of the leadership team.
Akero Therapeutics reported second quarter financial results, including cash, cash equivalents and marketable securities of $848.3 million as of June 30, 2024. The company believes its current resources will fund Phase 3 SYNCHRONY studies through primary endpoint readouts and its operating plan into the second half of 2027.
- Initiated Phase 3 SYNCHRONY Outcomes trial of Efruxifermin (EFX) in patients with compensated cirrhosis (F4) due to MASH.
- Presented poster and late-breaking oral presentation on EFX at the EASL Congress 2024.
- Expanded leadership team with the addition of Scott Gangloff as Chief Technical Officer.
- Cash, cash equivalents and short and long-term marketable securities totaled $848.3 million as of June 30, 2024.
Headline financials
Revenue & EPS history
Akero · Revenue · Quarterly
$0
Forward guidance
Akero believes that its current cash, cash equivalents, and short- and long-term marketable securities will be sufficient to fund its Phase 3 SYNCHRONY Histology and Real-World studies through readout of their respective primary endpoints and Akero’s current operating plan into the second half of 2027.
Tailwinds
- Current cash, cash equivalents, and short- and long-term marketable securities are projected to be sufficient to fund Phase 3 SYNCHRONY Histology and Real-World studies through readout of their respective primary endpoints.
- Current resources are expected to fund Akero’s current operating plan into the second half of 2027.
- Ongoing Phase 3 SYNCHRONY clinical trial program consists of three global, randomized, placebo-controlled trials to support marketing applications.
- Patients are using the LyoJect 3S dual chamber syringe, a pre-filled device designed for self-administration and intended for commercial use.
- Scott’s extensive knowledge and experience of establishing and optimizing supply chains will support a robust manufacturing capability for EFX at launch.
Headwinds
- The success, cost, and timing of Akero’s product candidate development activities and planned clinical trials.
- Akero’s ability to execute on its strategy.
- Positive results from a clinical study may not necessarily be predictive of the results of future or ongoing clinical studies.
- Regulatory developments in the United States and foreign countries.
- Akero’s ability to fund operations.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 7 quarterly earnings reports · overlaid with Q2 2024
-0.4%
Avg return
Earnings day
-1.8%
Avg return
5 days after
+1.5%
Avg return
30 days after
54%
14 / 26 earnings
Positive
+18.4%
Q2 2022
Best reaction
-20.9%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | +0.2% | +0.3% | +0.9% | |
| Q2 2025 | +0.1% | -4.2% | -11.3% | |
| Q1 2025 | +4.3% | -2.5% | +33.0% | |
| Q4 2024 | +2.9% | -5.4% | -8.8% | |
| Q3 2024 | -5.2% | -11.2% | -10.8% | |
| Q2 2024 | -3.0% | -4.2% | +6.2% | |
| Q1 2024 | -0.9% | +1.2% | +10.5% | |
| Q4 2023 | +2.1% | +12.0% | -7.3% | |
| Q3 2023 | +5.3% | — | — | |
| Q2 2023 | +6.2% | — | — | |
| Q1 2023 | +0.2% | — | — | |
| Q4 2022 | -4.1% | — | — | |
| Q3 2022 | -6.8% | — | — | |
| Q2 2022 | +18.4% | — | — | |
| Q1 2022 | -11.4% | — | — | |
| Q4 2021 | -1.9% | — | — | |
| Q3 2021 | +4.6% | — | — | |
| Q2 2021 | +1.0% | — | — | |
| Q1 2021 | +2.6% | — | — | |
| Q4 2020 | -1.1% | — | — | |
| Q3 2020 | -3.0% | — | — | |
| Q2 2020 | -0.9% | — | — | |
| Q1 2020 | +2.8% | — | — | |
| Q4 2019 | -20.9% | — | — | |
| Q3 2019 | -3.8% | — | — | |
| Q2 2019 | +1.3% | — | — | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — |
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