Futures tied to the S&P 500 (ES=F), Nasdaq 100 (NQ=F), and Dow Jones Industrial Average (YM=F) hovered just above the flat line in early trading. The E-mini S&P 500 December contract stood at 6,802.00, up 0.75 points, or 0.01%, as of 6:15 AM ET. The S&P 500 and Nasdaq Composite closed at new all-time highs on Wednesday, extending Wall Street’s rally after a brief pause earlier in the week. Sentiment strengthened following the release of Federal Reserve September meeting minutes, which showed officials rema ...

Core Insights - Akero Therapeutics reported significant advancements in its clinical program for Efruxifermin (EFX), particularly in reversing compensated cirrhosis due to metabolic dysfunction-associated steatohepatitis (MASH) as demonstrated in the Phase 2b SYMMETRY trial [1][2][7] Financial Performance - As of June 30, 2025, Akero had cash, cash equivalents, and short-term marketable securities totaling $1,086.2 million, which is expected to fund operations into 2028 [1][13] - Research and development expenses for Q2 2025 were $69.3 million, up from $55.3 million in Q2 2024, attributed to ongoing Phase 3 studies and increased personnel costs [13] - General and administrative expenses rose to $11.6 million in Q2 2025 from $10.4 million in Q2 2024, reflecting higher personnel and professional service costs [13] - Total operating expenses for Q2 2025 were $80.9 million, compared to $65.7 million in the same period of 2024 [13] Clinical Developments - The Phase 2b SYMMETRY trial results were published in the New England Journal of Medicine, reinforcing EFX's potential as a first- and best-in-class therapy for advanced-stage MASH [7] - EFX demonstrated the ability to reverse cirrhosis in high-need subgroups, including patients with cryptogenic cirrhosis and type 2 diabetes, marking a significant milestone in treatment options [7] - The Phase 2b HARMONY study also showed consistent improvements in fibrosis for patients with pre-cirrhotic MASH, utilizing both conventional and AI-based analysis methods [7] Market Context - MASH affects an estimated 17 million Americans, with approximately 20% of patients expected to progress to cirrhosis, highlighting the urgent need for effective treatments [8] - By 2030, it is projected that 3 million Americans will have cirrhosis due to MASH, emphasizing the growing public health challenge [9]