Akero Therapeutics Reports $70.5 Million Net Loss in Q2 2025

Akero Therapeutics, Inc. reported its financial results for the second quarter of 2025, revealing a net loss of $70.5 million, compared to a net loss of $56.0 million for the same period in 2024. For the six months ending June 30, 2025, the company recorded a net loss of $141.2 million, up from $109.3 million in the prior year. The increase in losses is attributed to higher operating expenses, which rose to $80.9 million for the quarter, a 23% increase from $65.7 million in the previous year. Research and development expenses accounted for the majority of this increase, totaling $69.3 million, a 25% rise from $55.3 million in Q2 2024.

The company’s total assets as of June 30, 2025, were reported at $1.1 billion, a significant increase from $825.9 million at the end of 2024. This growth was primarily driven by an increase in cash and cash equivalents, which decreased to $220.4 million from $340.2 million, while short-term marketable securities rose to $521.9 million from $402.8 million. Akero's accumulated deficit also increased to $967.4 million, reflecting ongoing investments in its clinical programs, particularly the Phase 3 SYNCHRONY program for its lead product candidate, efruxifermin (EFX).

In terms of operational developments, Akero has made significant strides in its clinical trials. The SYNCHRONY program, which includes three parallel, randomized, placebo-controlled trials, aims to support marketing approval for EFX in patients with metabolic dysfunction-associated steatohepatitis (MASH). The company has reported positive results from previous trials, including a 39% reversal of cirrhosis in patients treated with EFX, as published in The New England Journal of Medicine. As of June 30, 2025, Akero had approximately 79.9 million shares outstanding, reflecting its ongoing capital-raising efforts through public offerings and At-The-Market (ATM) sales agreements.

Looking ahead, Akero anticipates continued significant operating losses as it advances EFX through clinical development and prepares for potential commercialization. The company expects to require additional funding to support its operations and clinical programs, with cash reserves projected to last into 2028. Akero's management remains focused on securing the necessary capital to continue its research and development efforts, while also navigating the complexities of regulatory approvals and market conditions. The company has emphasized the importance of its clinical trials in determining the future success of EFX and its potential impact on treating MASH.