As of September 30, 2024, Akero Therapeutics, Inc. reported significant financial developments, including a net loss of $182.0 million for the nine months ended September 30, 2024, compared to a net loss of $96.6 million for the same period in 2023. This represents an increase of 88% year-over-year. The company's total operating expenses for the nine months reached $207.4 million, up from $111.0 million in the prior year, marking a substantial increase of 87%. Research and development expenses were a major contributor, totaling $178.2 million, a 102% increase from $88.4 million in the same period of 2023.

The company's cash and cash equivalents stood at $316.1 million as of September 30, 2024, an increase from $234.2 million at the end of 2023. Total current assets rose to $746.9 million, up from $560.0 million, while total assets increased to $817.5 million from $580.3 million. However, total current liabilities also rose to $43.3 million from $19.1 million, reflecting increased operational costs.

Akero's lead product candidate, Efruxifermin (EFX), is currently undergoing a Phase 3 clinical trial program known as SYNCHRONY, which includes three trials targeting metabolic dysfunction-associated steatohepatitis (MASH). The company has previously reported positive results from Phase 2b studies, which showed significant fibrosis regression and MASH resolution.

In terms of financing, Akero raised $344.8 million through a follow-on public offering in March 2024, contributing to a total of $787.1 million in cash, cash equivalents, and marketable securities as of September 30, 2024. The company has also entered into a Loan and Security Agreement with Hercules Capital, providing up to $150.0 million in debt financing, with an outstanding principal of $35.0 million as of the reporting date.

Despite these financial resources, Akero anticipates continued operating losses as it advances EFX through clinical development. The company has not generated any revenue since its inception in January 2017 and does not expect to do so in the near future. Future funding will be necessary to support ongoing research and development efforts, and the company may need to delay or reduce its programs if additional capital is not secured.

Overall, Akero Therapeutics is focused on the development of EFX for MASH, with significant financial challenges ahead as it navigates the complexities of clinical trials and regulatory approvals.