Akero Therapeutics Inc said on Tuesday its lead experimental drug met the main goal for treatment of a type of fatty liver disease, sending the company’s shares soaring more than 60% in premarket trading.

Both doses of the drug, efruxifermin, being studied in a mid-stage trial showed improvement in patients with pre-cirrhotic nonalcoholic steatohepatitis (NASH) by week 24 compared with the placebo arm, according to the company.

It is estimated that about 5% of adults in the United States have NASH, according to the American Liver Foundation, but there is no approved treatment for the ailment.

This makes it a lucrative opportunity for drugmakers, with Pfizer Inc as well as smaller companies such as Madrigal Pharmaceuticals Inc and Intercept Pharmaceuticals Inc developing treatments.

About 40% of the patients in each of the 50 mg and 28 mg dosage groups showed at least a one-stage improvement in liver scarring by week 24 compared with 20% for the placebo arm, Akero said, adding that the study also met its secondary endpoints. 

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