Rolph Timothy, the Chief Scientific Officer of Akero Therapeutics, Inc. (NASDAQ:AKRO), a biopharmaceutical company with a market capitalization of $1.98 billion, recently sold 3,800 shares of common stock, generating $118,172. According to InvestingPro data, the stock has gained over 38% in the past six months. The shares were sold at a weighted-average price of $31.098, with individual transaction prices ranging from $31.00 to $31.27. This sale was part of a pre-arranged trading plan under Rule 10b5-1, adopted in August 2024. The company maintains strong liquidity with a current ratio of 17.25, and InvestingPro analysis indicates the stock shows low correlation with market movements, featuring a beta of -0.24.
In addition to the sale, Timothy acquired 3,800 shares through the exercise of stock options at a price of $19.87 per share, totaling $75,506. Furthermore, he received 20,000 shares as restricted stock units, which are set to vest in eight semi-annual installments starting December 16, 2024.
Following these transactions, Timothy’s direct ownership in Akero Therapeutics stands at 178,337 shares.
In other recent news, Keros Therapeutics has voluntarily paused certain arms of its Phase 2 TROPOS Trial due to unexpected cases of pericardial effusion among participants. Despite this setback, the company continues to collect safety and efficacy data for all groups involved in the trial, with topline data expected in the second quarter of 2025.
Akero Therapeutics, on the other hand, has been making significant strides in the development of efruxifermin, a treatment for metabolic dysfunction-associated steatohepatitis (MASH). Citi has initiated coverage on Akero Therapeutics with a positive outlook, citing the potential of efruxifermin to be a leading therapy for MASH.
Furthermore, Akero reported positive clinical outcomes from its Phase 2b HARMONY study evaluating the efficacy of efruxifermin in treating MASH. Over 40% of participants exhibited regression of liver fibrosis after 96 weeks of treatment. The company's Phase 3 SYNCHRONY program, aimed at confirming efruxifermin's favorable benefit-risk profile, is currently underway.
These recent developments underscore the dynamic nature of the biopharmaceutical landscape, with both Keros Therapeutics and Akero Therapeutics making notable progress in their respective clinical trials.
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