Phase IIb data lift Akero’s profile in crowded NASH field — takeout target?

With a Phase IIb readout in NASH doubling Akero’s stock price Tuesday, the biotech said it believes its compound could compete as a “foundational monotherapy” in a hotly contested disease space.

The results of the HARMONY trial, in which efruxifermin led to significantly higher rates of both fibrosis improvement and disease resolution compared with placebo, drove shares of Akero Therapeutics Inc. (NASDAQ:AKRO) up $16.78 (137%) to $29.05, reaching an intraday 52-week high of $29.73 and lifting its market cap to $1.1 billion...