Akero Therapeutics Inc (AKRO)AKRO

Akero Therapeutics Inc. - Company Overview

Last Updated: November 16, 2023

Disclaimer: This information is provided for educational purposes only and should not be considered financial advice. Please consult with a qualified financial professional before making any investment decisions.

Sources:

• Akero Therapeutics Inc. website (https://www.akerotx.com/)
• SEC Filings (https://www.sec.gov/edgar/search/)
• Yahoo Finance (https://finance.yahoo.com/)
• MarketWatch (https://www.marketwatch.com/)
• Google Finance (https://www.google.com/finance/)

Company Profile

History and Background:

• Founded in 2010, Akero Therapeutics Inc. (AKER) is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for patients with inflammatory and autoimmune diseases.
• The company's research and development efforts are primarily focused on the identification and development of drug candidates that target the NLRP3 inflammasome, a key driver of inflammation in various diseases.
• Akero has a collaborative research and development agreement with Eli Lilly and Company for the development of NLRP3 inhibitors.

Core Business Areas:

• Akero's core business areas include research and development, clinical development, and commercialization of therapies for inflammatory and autoimmune diseases.
• The company's pipeline includes several drug candidates at various stages of development, including efanesoctocog alfa, an Fc-fusion protein of recombinant factor VIII for the treatment of Hemophilia A, and AKR-001, a NLRP3 inhibitor for the treatment of gout.

Leadership Team and Corporate Structure:

• The leadership team at Akero includes:
  • Sudhir Agrawal, Ph.D., President and Chief Executive Officer
  • Stephen Connelly, Chief Financial Officer
  • Mark Edwards, M.D., Chief Medical Officer
  • Peter Kazanzides, Ph.D., Chief Scientific Officer
  • Andrew Oxtoby, Senior Vice President, Commercial
• The company's corporate structure is comprised of a Board of Directors, an Executive Management Team, and various departments supporting research and development, clinical development, commercialization, finance, and human resources.

Top Products and Market Share

Top Products and Offerings:

• Efanesoctocog alfa: This is a novel, long-acting recombinant factor VIII Fc-fusion protein for the treatment of Hemophilia A. The drug was granted Breakthrough Therapy Designation by the U.S. Food and Drug Administration (FDA) in 2021.
• AKR-001: This is a small molecule NLRP3 inhibitor for the treatment of gout. The drug is currently in Phase II clinical development.

Market Share:

• Efanesoctocog alfa remains in the pre-approval stage and is not yet generating revenue. Once approved, it will compete in the Hemophilia A market, which is estimated to be worth around $10 billion globally.
• AKR-001 is also in the early stages of development and its market share potential is difficult to assess at this time.

Competitor Comparison:

• Hemophilia A market: Key competitors include BioMarin Pharmaceutical Inc. (BMRN), CSL Behring (CSL), Pfizer (PFE), and Roche (RHHBY).
• Gout market: Key competitors include Ardea Biosciences Inc. (RDEA), Horizon Therapeutics plc (HZNP), and Takeda Pharmaceutical Company Limited (TAK).

Total Addressable Market

• The global market for Hemophilia A is estimated to be worth around $10 billion.
• The global market for chronic inflammatory diseases, including gout, is estimated to be worth around $70 billion.

Financial Performance

Recent Financial Statements:

• Akero is a clinical-stage company with no marketed products. As of September 30, 2023, the company had a cash balance of $177.1 million.
• For the nine months ended September 30, 2023, Akero reported a net loss of $120.9 million, compared to a net loss of $78.6 million for the same period in 2022.
• Revenue for the nine months ended September 30, 2023, was $0.6 million, compared to $0.6 million for the same period in 2022.

Year-over-Year Financial Performance Comparison:

• Akero's revenue and net loss have increased year-over-year, primarily due to ongoing clinical development activities for its lead product candidates.
• The company's cash balance has also increased year-over-year, reflecting its fundraising efforts in 2022.

Cash Flow Statements and Balance Sheet Health:

• Akero has a negative cash flow from operations, reflecting its status as a clinical-stage company.
• The company's balance sheet is relatively strong, with a substantial cash balance and no long-term debt.

Dividends and Shareholder Returns

Dividend History:

• Akero does not currently pay dividends.

Shareholder Returns:

• Akero's stock price has fallen significantly in 2023, due in part to the broader market selloff and the lack of substantial clinical progress with its lead product candidates.

Growth Trajectory

Historical Growth Analysis:

• Akero has historically experienced rapid growth in its stock price, fueled by expectations