AKRO - NetworkNewsBreaks - Akero Therapeutics Inc. (NASDAQ: AKRO) Closes $105.8 Million IPO
Akero Therapeutics (NASDAQ: AKRO), a clinical-stage biotechnology company developing transformational treatments for people with non-alcoholic steatohepatitis (“NASH”) and other serious metabolic disorders, has closed its initial public offering, resulting in gross proceeds of approximately $105.8 million. The offering of 6,612,500 shares included 862,500 additional shares per the full exercise of the over-allotment option granted to the underwriters. The shares, sold each at the public offering price of $16.00, began trading on the Nasdaq Global Select Market on June 20, 2019 under the ticker symbol "AKRO." ROTH Capital Partners acted as lead manager for the offering.
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About Akero Therapeutics
Akero Therapeutics is a clinical-stage biotechnology company focused on the development and commercialization of transformative treatments for patients with serious metabolic diseases with high unmet medical need. The company's lead program AKR-001 is being evaluated in a Phase 2a clinical trial for the treatment of non-alcoholic steatohepatitis (“NASH”). NASH is a leading cause of liver failure around the world, driven by the growing global epidemic of obesity. NASH is a severe form of non-alcoholic fatty liver disease (“NAFLD”) characterized by liver cell (hepatocyte) damage, liver inflammation, and fibrosis that can progress to cirrhosis, liver failure, cancer and death. In-licensed from Amgen, AKR-001 is an engineered human Fc-FGF21 fusion protein designed to harness the inherent benefits of an endogenous hormone called FGF21, which has the potential to reduce liver fat, mitigate inflammation, and reverse fibrosis in NASH patients. AKR-001 is uniquely designed to deliver sustained signaling through FGF21's receptors with once-weekly subcutaneous dosing. For more information, visit the company’s website at www.Akerotx.com.
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