Press Release
May 25, 2023

Akero Therapeutics Completes $220 Million Registered Direct Offering

The Life Sciences team advised longtime client Akero Therapeutics (Nasdaq: AKRO) on the closing of its underwritten registered direct offering of 5,238,500 shares of common stock at a purchase price of $42.00 per share. The gross proceeds from the offering were approximately $220 million before deducting underwriting discounts and other offering expenses.

Goodwin has represented Akero for more than five years on venture capital financings, its IPO and ongoing matters.

Akero is a clinical stage company focused on developing transformational treatments for patients with serious metabolic diseases marked by high unmet medical need. The company’s lead product candidate efruxifermin (EFX) is being developed for treatment of non-alcoholic steatohepatitis (NASH). NASH is a serious liver disease caused by metabolic dysregulation that does not have any approved therapies.

The Goodwin team was led by Gabriela Morales-Rivera, John Mutkoski, Katie Hand, and Libby Sousa and included Susan Lee, Steven TjoeJanet Andolina, Chris Zhao and Brad Weber.

For additional details on the offering, please read the press release.