NASDAQ:AKRO 9 October 2025 - 14 December 2025

Forecast: Experts believe that within the next 2–3 years, we’ll know if Novo’s gamble pays off. Phase 3 readouts for efruxifermin are anticipated in 2026, and Novo hopes to launch the drug by late this decade if approvedreuters.com. By then, the landscape may include other new NASH therapies, but Novo’s combination strategy could set it apart. Wolfe Research analyst Andy Chen recently said the field has reached a “meaningful tipping point” as the first therapies emerge, predicting the leading NASH drug could see $5 billion+ in annual sales under broad useinvesting.com. Novo’s own management clearly shares that optimism – they characterize EFX as a potential “first- and best-in-class” treatment for mid-to-late-stage fatty liver diseasebiospace.com. In the near term, investors seem cautiously optimistic: Novo’s stock has soared in 2025 thanks to obesity drug success, and adding Akero is seen as a bold but logical extension of that success into fatty liver disease. “This acquisition embodies Novo Nordisk’s relentless ambition to move faster, go further,” CEO Doustdar proclaimedbiospace.com. If efruxifermin fulfills its promise, Novo could not only help millions of patients with a previously untreatable condition, but also secure a new multi-billion dollar franchise – solidifying its position as a powerhouse in