Lawsuit filed for Investors who lost money with shares of Akero Therapeutics, Inc. (NASDAQ: AKRO)

An investor, who purchased shares of Akero Therapeutics, Inc. (NASDAQ: AKRO), filed a lawsuit over alleged violations of Federal Securities Laws by Akero Therapeutics, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Akero Therapeutics, Inc. (NASDAQ: AKRO) have certain options and for certain investors are short and strict deadlines running. Deadline: June 25, 2024. NASDAQ: AKRO investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

San Francisco, CA based Akero Therapeutics, Inc., together with its subsidiary, engages in the development of treatments for patients with serious metabolic diseases in the United States. On October 10, 2023, Akero Therapeutics, Inc posted interim data from its Phase 2b SYMMETRY trial for its lead candidate efruxifermin ("EFX") in patients with liver disorder nonalcoholic steatohepatitis ("NASH"). Specifically, the Company stated that 22% (28mg) and 24% (50mg) of those on EFX and 14% on placebo indicated at least one stage improvement in fibrosis with no worsening of NASH at week 36, the trial's primary endpoint, but that these changes were not statistically significant. In addition, Akero Therapeutics, Inc added that 12 patients, including 11 in EFX groups, discontinued the trial due to drug-related adverse events.

Shares of Akero Therapeutics, Inc. (NASDAQ: AKRO) declined from $58.00 per share in June 2023, to as low as $11.25 per share on October 27, 2023.

The plaintiff claims that between September 13, 2022 and October 9, 2023, the defendants made false and/or misleading statements and/or failed to disclose that approximately 20% of the patients enrolled in the SYMMETRY study had cryptogenic cirrhosis and did not have definitive NASH at baseline, that the cryptogenic cirrhotic patients included in the SYMMETRY study did not have biopsy-proven compensated cirrhosis due to definitive NASH, that the results from the cryptogenic cirrhosis patients were to be excluded from the calculation of the NASH resolution secondary endpoints, that 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; (v) 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 that 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 that EFX would become a commercial treatment for NASH cirrhotics.

Those who purchased shares of Akero Therapeutics, Inc. (NASDAQ: AKRO) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.