Akero Therapeutics Announces Pricing of Upsized Public Offering of Common Stock and Pre-Funded Warrants

Core Viewpoint - Akero Therapeutics, Inc. has announced an upsized underwritten public offering of common stock and pre-funded warrants, aiming to raise approximately $350 million in gross proceeds to support its clinical development efforts in treating serious metabolic diseases [1][5]. Group 1: Offering Details - The offering consists of 5,333,420 shares of common stock priced at $48.00 per share and pre-funded warrants to purchase 1,958,247 shares at a price of $47.9999 each [1]. - Akero has granted underwriters a 30-day option to purchase an additional 1,093,750 shares at the public offering price [1]. - The offering is expected to close on or about January 30, 2025, subject to customary closing conditions [1]. Group 2: Underwriters - J.P. Morgan, Morgan Stanley, and Jefferies are acting as joint book-running managers for the offering, while UBS Investment Bank serves as co-manager [2]. Group 3: Regulatory Information - The securities are being offered under an automatically effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission (SEC) [3]. - A preliminary prospectus supplement was filed with the SEC on January 27, 2025, with the final prospectus to be filed subsequently [3]. Group 4: Company Overview - Akero Therapeutics is focused on developing treatments for serious metabolic diseases, including metabolic dysfunction-associated steatohepatitis (MASH) [5]. - The lead product candidate, efruxifermin (EFX), is currently in three ongoing Phase 3 clinical studies targeting different patient populations with MASH [5].