NASDAQ$AKRO
Akero Therapeutics Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Akero Therapeutics reported third quarter financial results and provided a business update.
Akero Therapeutics reported its third quarter financial results, highlighting the ongoing Phase 3 SYNCHRONY studies and the progress of its lead product candidate, EFX, in treating NASH. The company's cash position is strong, expected to fund operations into 2026.
- Phase 3 SYNCHRONY Histology and SYNCHRONY Real-World studies are actively screening and on track to begin enrolling by the end of 2023.
- Week 36 results from the Phase 2b SYMMETRY study showed statistically significant results for NASH resolution and improvements in non-invasive markers.
- Week 96 results from the Phase 2b HARMONY study are expected to be reported in the first quarter of 2024.
- Cash, cash equivalents, and marketable securities totaled $613.0 million as of September 30, 2023, expected to fund operations into 2026.
Headline financials
Revenue & EPS history
Akero · Revenue · Quarterly
$0
Forward guidance
Akero Therapeutics anticipates several key milestones, including the initiation of Phase 3 trials and the reporting of Phase 2b study results. However, these plans are subject to various risks and uncertainties.
Tailwinds
- The company expects to begin enrollment of its Phase 3 SYNCHRONY program by the end of 2023.
- Akero anticipates potential communications with the FDA regarding its clinical trial designs.
- The long-term follow-up week 96 results of Akero’s Phase 2b HARMONY and SYMMETRY studies are expected to be reported.
- Akero believes that its current cash, cash equivalents, short-term and long-term marketable securities will be sufficient to fund its current operating plan into 2026.
- Ongoing clinical trials are evaluating the efficacy and safety of EFX.
Headwinds
- The success, cost, and timing of Akero’s product candidate development activities and planned clinical trials are uncertain.
- Akero’s ability to execute on its strategy is subject to risks.
- Positive results from any of its clinical studies may not necessarily be predictive of the results of future or ongoing clinical studies.
- Regulatory developments in the United States and foreign countries could impact Akero’s plans.
- Akero’s ability to fund operations is subject to risks.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 7 quarterly earnings reports
-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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