NASDAQ: AKRO

Akero Therapeutics, Inc.

Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of common stock of Akero Therapeutics, Inc. (NASDAQ: AKRO) between September 13, 2022 and October 9, 2023, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 25, 2024.

If you purchased Akero common stock and would like to join the action, please click “Join This Class Action.”

Class Period:September 13, 2022 through October 9, 2023

Deadline:

28 Days
If you purchased Akero common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of the case:

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:

  • approximately 20% of the patients enrolled in the SYMMETRY study, a trial that purportedly tested its  lead product candidate, efruxifermin (“EFX”) in patients with Non-alcoholic Steatohepatitis (“NASH”) induced cirrhosis, had cryptogenic cirrhosis and did not have definitive NASH at baseline;
  • the cryptogenic cirrhotic patients included in the SYMMETRY study did not have biopsy-proven compensated cirrhosis due to definitive NASH;
  • the results from the cryptogenic cirrhosis patients were to be excluded from the calculation of the NASH resolution secondary endpoints;
  • Akero had introduced a confounding factor into the SYMMETRY study’s design, materially influencing the study’s potential results and increasing the risks that the study would fail to meet its primary endpoint;
  • the SYMMETRY study did not align with U.S. Food & Drug Administration guidance for testing a drug in treating NASH cirrhotics because Akero had not ruled out potential causes of each patient’s cirrhosis other than NASH; and
  • consequently, Akero had materially misrepresented the nature of the SYMMETRY trial, its usefulness in supporting any new drug application, the likelihood that the SYMMETRY trial would be successful as measured by its primary endpoint, and the likelihood EFX would become a commercial treatment for NASH cirrhotics.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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Company Name: Akero Therapeutics, Inc.
Stock Symbol: AKRO
Class Period: September 13, 2022 through October 9, 2023
Court: United States District Court for the Northern District of California

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