Akero Therapeutics' Stock Is Soaring Monday - Here's Why
Portfolio Pulse from Vandana Singh
Akero Therapeutics Inc (NASDAQ:AKRO) shares surged after announcing positive week 96 results from its Phase 2b HARMONY study of efruxifermin (EFX) for MASH, fibrosis stage 2 or 3. The study showed significant improvement in fibrosis without worsening of MASH, with response rates and placebo-adjusted effect sizes increasing notably from week 24 to week 96. EFX was well-tolerated with no deaths and balanced serious adverse events across dose groups. Despite positive results in the HARMONY study, EFX did not show statistical significance in the SYMMETRY Phase 2b trial for improving liver scarring in compensated cirrhosis due to MASH. AKRO shares rose 13.20% to $31.53.
March 04, 2024 | 4:28 pm
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POSITIVE IMPACT
Akero Therapeutics Inc shares jumped following the announcement of encouraging week 96 results from its HARMONY study for efruxifermin in treating MASH, fibrosis stage 2 or 3. The study's positive outcomes and the drug's good tolerance profile contributed to the stock's rise.
The significant improvement in fibrosis without worsening of MASH reported from the HARMONY study directly impacts Akero Therapeutics' market perception and investor confidence, leading to a short-term positive impact on AKRO's stock price. The detailed results and the drug's tolerability profile likely contributed to the positive investor sentiment, reflected in the stock's price increase.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100