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Akero Therapeutics, part of a cohort of biotechs attempting to mark a turnaround in NASH drug development, did not pass the bar in a Phase IIb test of patients with cirrhosis, the most severe form of the fatty liver disease that is also known as stage F4.

The South San Francisco biotech’s lead drug, dubbed efruxifermin, was not statistically significant in beating out placebo in improving liver scarring without worsening of NASH, Akero said before Tuesday’s opening bell. At a 36-week analysis, the p-values were 0.38 and 0.28 for the low and high doses, respectively, according to an investor presentation.

Akero had “set a high bar with the primary endpoint” in the 182-patient SYMMETRY trial, CEO and president Andrew Cheng said in a statement. The company’s stock price $AKRO had risen about 20% in anticipation of the data, soaring in after-hours trading on Monday after Akero announced it would present the results early the next morning. But after the pre-market press release, Akero’s share price immediately tanked more than 60%. https://endpts.com/akeros-drug-efruxifermin-f...m-of-nash/

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