Akero Therapeutics is an innovative biotechnology company focused on developing transformative treatments for serious metabolic diseases such as metabolic dysfunction-associated steatohepatitis (MASH). The firm’s flagship clinical candidate, efruxifermin (EFX), represents a novel approach to treating complex liver and metabolic conditions.
Akero is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. Its mission is to address high unmet medical needs, particularly for metabolic diseases marked by a lack of effective therapies, such as MASH/NASH (nonalcoholic steatohepatitis). The company is traded on NASDAQ under the symbol AKRO and is recognized in the pharmaceutical industry for its focus on long-term, disease-modifying drug candidates.
Akero was founded in January 2017 by Jonathan Young and Timothy Rolph. It quickly gained attention by in-licensing efruxifermin (EFX) from Amgen and transitioning into a clinical-stage organization, with multiple Phase 2 and ongoing Phase 3 studies targeting MASH and related metabolic disorders.
As of August 2024, Akero had a market capitalization of approximately $1.7 billion, with an enterprise valuation close to $1 billion.
The company has raised significant capital through public and private rounds, including a notable post-IPO equity round estimated at $319 million.
Akero’s financial health is considered strong, with low debt-to-equity, around $742 million in cash reserves, and total assets over $1.1 billion as of mid-2025.
Lead drug candidate: Efruxifermin (EFX), a long-acting analog of fibroblast growth factor 21 (FGF21), is engineered for once-weekly dosing and targets the metabolic and fibrotic pathways fundamental to MASH.
Clinical data: EFX has repeatedly demonstrated in Phase 2 studies and the recent Phase 2b HARMONY trial the ability to reverse fibrosis (including some cases of cirrhosis), resolve MASH, and improve key metabolic health markers, including insulin sensitivity and lipid profiles.
Akero’s stated culture prioritizes rigorous science, innovation in addressing high unmet needs, and a “patient-first” mission.
Akero’s products are not yet commercial and thus do not have a traditional end-user base. The primary stakeholders at this stage include clinical trial investigators, patient advocates, research institutions, and the global medical community participating in MASH/metabolic disease research.
