AKRO - AKRO INVESTOR ALERT: Bronstein Gewirtz & Grossman LLC Announces that Akero Therapeutics Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit! | Benzinga
NEW YORK, May 01, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Akero Therapeutics, Inc. ("Akero" or "the Company") (NASDAQ:AKRO) and certain of its officers.
Class Definition:
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Akero securities between September 13, 2022 and October 9, 2023, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/AKRO.
Case Details:
According to the Complaint, Akero is a clinical stage biopharmaceutical company that was founded to develop transformational medicines for patients with serious metabolic diseases that lack effective treatment options. The Company is currently focused on advancing its lead product candidate efruxifermin ("EFX"), formerly known as AKR-001, to provide a new treatment for patients with nonalcoholic steatohepatitis ("NASH"), a serious liver disease.
Akero has a limited operating history, according to the Complaint. The Company has yet to generate any revenues because the FDA has not approved any of its drug candidates for sale. Because funding drug development, clinical trials, and commercialization is capital-intensive, Akero has suffered significant recurring losses since its inception, including over $290 million in losses during the years 2020 to 2022 alone. To finance the Company's operations, Akero conducted two secondary stock offerings and one at-the-market stock offering during the Class Period, raising over $577 million.
The Complaint alleges that throughout the Class Period Akero ...