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.

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.

Analysts say the cirrhosis-reversing benefit seen with Akero’s efruxifermin portends well for the entire class, and that 89bio might differentiate on safety, tolerability and dosing frequency.

Although the data are from a small cohort of an ongoing study, Akero’s FGF21 analog reduces fibrosis score by at least one stage in 33% of cirrhotic NASH patients.