Akero Therapeutics Announces Closing of Upsized Public Offering of Common Stock and Pre-Funded Warrants and Full Exercise of Underwriters' Option to Purchase Additional Shares

Core Insights - Akero Therapeutics, Inc. has successfully closed an underwritten public offering, raising approximately $402.5 million through the sale of 6,427,170 shares of common stock at a price of$48.00 per share, along with pre-funded warrants for 1,958,247 shares at a price of $47.9999 each [1] Company Overview - Akero Therapeutics is a clinical-stage company focused on developing transformative treatments for serious metabolic diseases, particularly metabolic dysfunction-associated steatohepatitis (MASH) [5] - The company's lead product candidate, efruxifermin (EFX), is currently undergoing evaluation in three Phase 3 clinical studies targeting different patient populations affected by MASH [5] - The ongoing SYNCHRONY program builds on previous Phase 2b clinical trials, indicating a robust pipeline and commitment to addressing high unmet medical needs in this therapeutic area [5] Offering Details - The offering included the full exercise of the underwriters' option to purchase an additional 1,093,750 shares, demonstrating strong demand for the company's stock [1] - J.P. Morgan, Morgan Stanley, and Jefferies served as joint book-running managers for the offering, with UBS Investment Bank acting as co-manager [2] - The securities were offered under an automatically effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) [3]