FDA announcements or 89bio Inc. press releases

Akero's Efruxifermin Reverses Liver Scarring in MASH Patients, Boosting $AKRO and $ETNB Stocks

Jan 27, 2025, 12:06 PM

Akero Therapeutics Inc. ($AKRO) has reported promising results from its Phase 2b SYMMETRY study, demonstrating that its drug efruxifermin significantly reversed liver scarring in patients with compensated cirrhosis caused by metabolic dysfunction-associated steatohepatitis (MASH). The study showed a 24-point difference in liver fibrosis improvement at 96 weeks, with 39% of patients on a 50-mg dose of efruxifermin achieving a clinically meaningful reduction in liver fibrosis compared to 15% on placebo. The results were statistically significant under both completer and intent-to-treat (ITT) analyses. The positive outcome has led to a surge in Akero's stock, with shares trading 100% higher pre-market. The success of efruxifermin, an FGF21 analog, is also seen as a positive development for other companies in the same class, such as 89bio Inc. ($ETNB), which is also developing an FGF21 analog, pegozafermin, for similar indications. 89bio's stock rose to $12, and Cantor expects $ETNB shares to reach $15, representing over 100% upside, based on the findings from the trial. 89bio is currently conducting three separate Phase 3 trials for pegozafermin, each targeting market opportunities exceeding $1 billion in the U.S. alone.