At EASL 2021, Akero presented efruxifermin data showing benefit in cirrhotic NASH patients and strong liver fat reduction, but may be challenged in the FGF21 analog class by 89Bio.

Full-year findings for resmetirom reported at EASL confirm 16-week data in non-alcoholic steatohepatitis presented in 2020. Analysts say these data continue to de-risk the drug, but more important readouts await.

TERN-101 showed a superior safety and tolerability profile for lipid levels and pruritis compared to other FXR agonists in a mid-stage study. Terns is now looking to a NASH combo study with its THR beta agonist.

NGM will not proceed with a Phase III study in F2/F3 NASH following failure to show fibrosis benefit in Phase IIb. Analysts say this setback could portend disappointing readouts for other NASH players.