Akero Therapeutics, Inc.

Overview

• IndustryPharmaceutical Preparations²
• HeadquartersSan Francisco, United States²
• Incorporated inDE³
• Business address601 Gateway Boulevard, Suite 350, South San Francisco, Ca 94080³
• Filer categoryLarge accelerated filer³
• Legal formCorporation²
• LEI549300SI3KG74LBE2955²
• StatusActive²
• LEI statusLapsed (not renewed)²
• Registered addressc/o The Corporation Trust Company, 19801 Wilmington, United States²
• Registered withDivision of Corporations, Department of State, 6294543²

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We are a clinical-stage company dedicated to developing transformational treatments for patients with serious metabolic diseases marked by high unmet medical need, including metabolic dysfunction-associated steatohepatitis, or MASH, formerly known as non-alcoholic steatohepatitis, or NASH. MASH is a severe form of metabolic dysfunction-associated steatotic liver disease, or MASLD, formerly known as nonalcoholic fatty liver disease, or NAFLD, characterized by inflammation and fibrosis in the liver that can progress to cirrhosis, liver failure, cancer and death. Our lead product candidate, efruxifermin, or EFX, is an analog of fibroblast growth factor 21, or FGF21, which is an endogenously expressed hormone that protects against cellular stress and regulates metabolism of lipids, carbohydrates and proteins throughout the body. We have initiated a Phase 3 program called SYNCHRONY, which is …⁴ From its latest annual report

Corporate structure

Akero Therapeutics, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Akero Therapeutics, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

Investments

Properties, in its own words

We lease office space where our corporate headquarters are located, which consists of 6,647 square feet located at 601 Gateway Boulevard, South San Francisco, California. We believe our current office space is sufficient to meet our office needs until the expiration of the lease in July 2027.

Item 2 of the 10-K filed Feb 28, 2025.⁴

Leadership

Who has led Akero Therapeutics, Inc., and when. Pick a name to see everywhere that person has worked.

• Chief executive officerAndrew Cheng Jun 19, 2019 to now¹⁵
• PresidentAndrew Cheng Jun 19, 2019 to now¹⁵
• Chief financial officerWilliam Richard White Jun 19, 2019 to now¹⁶

Timeline

1. Dec 9, 20258-K Ended a material agreement; Completed an acquisition or sale; Listing notice or transfer²⁹
2. Dec 3, 20258-K Shareholder vote; Other events³⁰
3. Oct 9, 20258-K Entered a material agreement; Bylaws or fiscal year changed; Other events³¹
4. Sep 29, 20258-K Ended a material agreement³²
5. Aug 8, 20258-K Results of operations³³
6. Jun 4, 20258-K Shareholder vote³⁴
7. May 12, 20258-K Results of operations³⁵
8. Feb 28, 20258-K Results of operations³⁶
9. Jan 30, 20258-K Entered a material agreement³⁷
10. Jan 27, 20258-K Results of operations; Regulation FD disclosure; Other events³⁸
11. Nov 8, 20248-K Results of operations³⁹
12. Aug 9, 20248-K Results of operations⁴⁰
13. Jun 19, 2019New chief executive Andrew Cheng becomes CEO¹⁵
14. Jan 24, 2017Founded Akero Therapeutics, Inc. is founded²

Calendar

When it reported results

1. Aug 8, 2025Reported quarterly or annual results³³
2. May 12, 2025Reported quarterly or annual results³⁵
3. Feb 28, 2025Reported quarterly or annual results³⁶
4. Jan 27, 2025Reported quarterly or annual results³⁸
5. Nov 8, 2024Reported quarterly or annual results³⁹
6. Aug 9, 2024Reported quarterly or annual results⁴⁰
7. May 10, 2024Reported quarterly or annual results⁴¹
8. Feb 29, 2024Reported quarterly or annual results⁴²

Drug trials and FDA: recently

1. Mar 3, 2026Phase 3 trial completed Phase 3 trial of Efruxifermin in NASH/MASH: primary completion Mar 3, 2026, no results posted yet (ClinicalTrials.gov NCT06161571).⁴³
2. Dec 15, 2023Phase 2 trial completed Phase 2 trial of EFX in NASH - Nonalcoholic Steatohepatitis: primary completion Dec 15, 2023, results posted Jul 21, 2026 (ClinicalTrials.gov NCT05039450).⁴⁴

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). Trials from ClinicalTrials.gov, as the sponsor registered them (expected dates are the sponsor's own and often move); approvals and advisory committee meetings from the FDA. The FDA does not publish its decision (PDUFA) dates. The full markets calendar

Filings

517 filings to the SEC since October 2021: 5 annual reports, 13 quarterly reports, 41 major events, 309 insider forms, 66 large holders, 83 other. The latest 20:

1. Feb 17, 2026SCHEDULE 13G/A EDGAR
2. Feb 17, 2026SCHEDULE 13G/A EDGAR
3. Feb 13, 2026SCHEDULE 13G/A EDGAR
4. Feb 10, 2026SCHEDULE 13G/A EDGAR
5. Dec 19, 202515-12G EDGAR
6. Dec 9, 20254 EDGAR
7. Dec 9, 20254 EDGAR
8. Dec 9, 20254 EDGAR
9. Dec 9, 20254 EDGAR
10. Dec 9, 20254 EDGAR
11. Dec 9, 20254 EDGAR
12. Dec 9, 20254 EDGAR
13. Dec 9, 20254 EDGAR
14. Dec 9, 20254 EDGAR
15. Dec 9, 20254 EDGAR
16. Dec 9, 20254 EDGAR
17. Dec 9, 20254 EDGAR
18. Dec 9, 20254 EDGAR
19. Dec 9, 20254 EDGAR
20. Dec 9, 2025S-8 POS EDGAR

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

226 open-market trades by officers, directors and large owners since October 2021: 14 buys and 212 sales. Grants, option exercises and gifts are left out.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

• Janus Henderson Group Ltd.SCHEDULE 13G/A, 10 filings Feb 10, 2022 to Feb 17, 2026⁴⁵
• RTW INVESTMENTS, LPSCHEDULE 13G/A, 5 filings Feb 14, 2024 to Feb 17, 2026⁴⁶
• Deep Track Capital, LPSCHEDULE 13G/A, 2 filings Oct 7, 2025 to Feb 13, 2026⁴⁷
• Wellington Management CompanySCHEDULE 13G/A, 9 filings Feb 4, 2022 to Feb 10, 2026⁴⁸
• PRICE T ROWE ASSOCIATES INC /MD/SCHEDULE 13G/A, 4 filings Feb 14, 2023 to Nov 14, 2025⁴⁹
• GENERAL ATLANTIC, L.P.SCHEDULE 13G/A, 2 filings Mar 15, 2024 to May 15, 2025⁵⁰
• ALKEON CAPITAL MANAGEMENT LLCSC 13G/A, 4 filings Feb 14, 2022 to Nov 13, 2024⁵¹
• State Street CorporationSC 13G/A, 3 filings Feb 3, 2023 to Oct 17, 2024⁵²
• BAKER BROS. ADVISORS LPSC 13G/A, 2 filings Feb 14, 2023 to Feb 14, 2024⁵³
• PfizerSC 13G/A, 2 filings Jun 28, 2022 to Feb 14, 2024⁵⁴
• Redmile Group, LLCSC 13G/A, 3 filings Feb 14, 2022 to Feb 14, 2024⁵⁵
• Avidity Partners Management LPSC 13G/A, 3 filings Sep 16, 2022 to Feb 13, 2024⁵⁶
• VANGUARD GROUP INCSC 13G, 1 filing Feb 13, 2024⁵⁷
• ADAGE CAPITAL PARTNERS GP, L.L.C.SC 13G/A, 2 filings Apr 10, 2023 to Feb 7, 2024⁵⁸
• BlackRockSC 13G/A, 4 filings Feb 4, 2022 to Jan 26, 2024⁵⁹
• Skorpios TrustSC 13G/A, 2 filings Dec 5, 2022 to Sep 12, 2023⁶⁰
• Atlas Venture Fund XI, L.P.SC 13G/A, 2 filings Feb 11, 2022 to Feb 14, 2023⁶¹
• Point72 Asset Management, L.P.SC 13G/A, 3 filings Dec 13, 2021 to Feb 14, 2023⁶²
• Goldman SachsSC 13G/A, 2 filings Feb 8, 2022 to Feb 7, 2023⁶³
• venBio Global Strategic Fund II L.P.SC 13D/A, 1 filing Sep 15, 2022⁶⁴

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

SEC filer profile

How Akero Therapeutics, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

• Name on EDGARAkero Therapeutics, Inc.¹
• CIK0001744659
• Employer ID (EIN)81-5266573⁴
• Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company⁴
• Incorporated inDelaware⁴
• Fiscal year endsDecember 31¹
• Industry code (SIC)2834 Pharmaceutical Preparations¹
• SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance¹
• Business address601 Gateway Boulevard, Suite 350, South San Francisco, CA 94080¹
• Phone650-487-6488¹
• Shares outstanding82,316,179 as of Nov 3, 2025¹¹
• Public float$1.6T as of Jun 30, 2024⁴
• AuditorDeloitte & Touche LLP, Morristown, NJ PCAOB ID 34; it also attests to the company’s internal control over financial reporting⁴
• On EDGAR sinceDec 18, 2018¹
• Filings734 in all: 4 (398), 8-K (74), 144 (46), SC 13G/A (37), SC 13G (25), 3 (22), 10-Q (20), SCHEDULE 13G/A (14)¹
  All 45 form types

  424B5 (9), S-8 (7), S-8 POS (7), SC 13D/A (7), 10-K (6), 4/A (6), DEF 14A (6), CORRESP (5), ARS (3), DEFA14A (3), UPLOAD (3), 424B4 (2), DRS (2), DRS/A (2), DRSLTR (2), EFFECT (2), S-1 (2), S-1MEF (2), S-3ASR (2), SC 13D (2), SCHEDULE 13G (2), 10-K/A (1), 15-12G (1), 25-NSE (1), 8-A12B (1), 8-K/A (1), CERT (1), CT ORDER (1), D (1), DEFM14A (1), FWP (1), POSASR (1), PRE 14A (1), PREM14A (1), RW (1), S-1/A (1), S-3 (1)

• Latest filingsAnnual report (10-K) Feb 28, 2025
  Quarterly report (10-Q) Nov 7, 2025
  Proxy statement (DEF 14A) Apr 28, 2025
  Latest 8-K (8-K) Dec 9, 2025

Securities registered for trading

From the cover page of the 10-K filed Feb 28, 2025 (Section 12(b) of the Exchange Act).⁴

Risk factors and legal proceedings

The risks Akero Therapeutics, Inc. names in Item 1A of its 10-K filed Feb 28, 2025: 72 risks under these headings, as written.⁴

• Risks Related to the Clinical Development and Manufacturing of our Product Candidate
• Enrollment and retention of patients in clinical trials is an expensive and time-consuming process and could be made more difficult or rendered impossible by multiple factors outside our control, including difficulties in identifying patients with MASH, significant competition for recruiting such patients in clinical trials, and restrictions on patients and investigators related to outbreaks of infectious diseases or public health crises.
• We face substantial competition, which may result in others discovering, developing or commercializing products before or more successfully than us.
• Failures or delays in the commencement or completion of, or ambiguous or negative results from our planned clinical trials of our product candidates could result in increased costs to us and could delay, prevent, or limit our ability to generate revenue and continue our business.
• Clinical development is uncertain and our clinical trials for EFX and any future product candidates may experience delays, which would adversely affect our ability to obtain regulatory approvals or commercialize these programs on a timely basis or at all, which would have an adverse effect on our business.
• We rely and will continue to rely on third parties to conduct our clinical trials. If these third parties do not successfully carry out their contractual duties or meet expected deadlines or comply with regulatory requirements, we may not be able to obtain regulatory approval of or commercialize any potential product candidates.
• The manufacture of our product candidates is complex and we may encounter difficulties in production. If we or any of our third-party manufacturers encounter such difficulties, or fail to meet rigorously enforced regulatory
• standards, our ability to provide supply of our product candidates for clinical trials or our products for patients, if approved, could be delayed or stopped, or we may be unable to maintain a commercially viable cost structure.
• We are subject to many manufacturing risks, any of which could substantially increase our costs, delay clinical programs and limit supply of our product candidates.
• We contract with third parties for the manufacture of EFX and the delivery device utilized for EFX and expect to continue to do so for future clinical trials and for commercialization of EFX as well as for any future product candidates. This reliance on third parties increases the risk that we will not have sufficient quantities of EFX, or the delivery devices utilized for EFX, or any future product candidates or medicines or that such supply will not be available to us at an acceptable cost, which could delay, prevent or impair our development or commercialization efforts.
• Risks Related to Our Business, Industry and Intellectual Property
• We are heavily dependent on the success of EFX, our only product candidate.

Legal proceedings

From time to time, we may be involved in lawsuits, claims, investigations and proceedings, consisting of intellectual property, commercial, employment and other matters which arise in the ordinary course of business. On April 26, 2024, a purported stockholder of the Company filed a lawsuit, captioned Klobus v. Akero Therapeutics, Inc., No. 3:24-cv-02534 (N.D. Cal.), in the U.S. District Court for the Northern District of California against the Company and three of its officers. The suit purports to be filed on behalf of a class of stockholders who purchased or otherwise acquired Company common stock between September 13, 2022, and October 9, 2023. The suit asserts claims under the Exchange Act for alleged misstatements and omissions regarding the Company’s Phase 2b SYMMETRY study. The complaint seeks damages in an unspecified amount. The court appointed lead plaintiffs and lead counsel on August 2,

2024. Lead Plaintiffs filed an amended complaint on September 24, 2024. On November 18, 2024, Defendants filed a motion to dismiss, Lead Plaintiffs filed an Opposition on January 13, 2025, and Defendants filed a Reply on February 21, 2025. A hearing on Defendants’ motion to dismiss is currently scheduled for March 11, 2025. Due to the early stage of this matter, it is not possible to determine the probability or amount of potential related costs. The Company intends to vigorously defend against the lawsuit.

The opening of Item 3, Legal Proceedings.⁴