Why Akero Therapeutics Stock Trounced the Market on Thursday

Group 1 - Akero Therapeutics' shares increased by over 16% following the announcement of its acquisition by Novo Nordisk, while the S&P 500 index fell by 0.3% on the same day [1] - The acquisition deal is valued at approximately $5.2 billion, with Akero stockholders set to receive $54 per share in cash, plus a contingent value right (CVR) [2][3][4] - The CVR provides an additional $6 per share contingent on the FDA approval of Akero's investigational drug efruxifermin by June 30, 2031, targeting a specific liver disease [4] Group 2 - Novo Nordisk's acquisition of Akero is seen as a strategic move to enhance its portfolio, particularly in treatments for metabolic dysfunction-associated steatohepatitis (MASH) [5] - The deal has received unanimous approval from Akero's board of directors and is expected to close around New Year's [4]