$AKRO
Akero Therapeutics, Inc.

2023 Q2 Form 10-Q Financial Statement

#000095017023021968 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.644M $6.966M $5.537M
YoY Change 22.68% 25.81% 22.23%
% of Gross Profit
Research & Development $27.99M $21.79M $20.51M
YoY Change 31.0% 6.21% 93.49%
% of Gross Profit
Depreciation & Amortization $11.00K $11.00K $11.00K
YoY Change 0.0% 0.0% 0.0%
% of Gross Profit
Operating Expenses $27.99M $21.79M $20.51M
YoY Change 31.0% 6.21% 93.49%
Operating Profit -$35.63M -$28.75M -$26.05M
YoY Change 29.12% 10.37% 72.2%
Interest Expense $857.0K $457.0K $22.00K
YoY Change 1516.98% 1977.27% -45.0%
% of Operating Profit
Other Income/Expense, Net $5.403M $3.379M
YoY Change
Pretax Income -$31.08M -$25.83M -$26.03M
YoY Change 13.43% -0.76% 72.49%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$31.08M -$25.83M -$26.03M
YoY Change 13.43% -0.76% 72.49%
Net Earnings / Revenue
Basic Earnings Per Share -$0.60 -$0.55 -$0.74
Diluted Earnings Per Share -$0.60 -$0.55 -$743.6K
COMMON SHARES
Basic Shares Outstanding 50.09M 46.97M 35.01M
Diluted Shares Outstanding 51.87M 46.94M 35.01M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $658.9M $556.2M $279.9M
YoY Change 98.15% 98.71% 11.97%
Cash & Equivalents $444.2M $257.9M $150.5M
Short-Term Investments $214.7M $298.4M $129.4M
Other Short-Term Assets $3.759M $4.267M $2.558M
YoY Change 9.85% 66.81% -55.9%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $643.2M $347.5M $167.9M
YoY Change 249.29% 106.92% -34.35%
LONG-TERM ASSETS
Property, Plant & Equipment $25.00K $36.00K $79.00K
YoY Change -63.24% -54.43% -95.35%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $19.45M
YoY Change
Other Assets $0.00 $108.0K $468.0K
YoY Change -100.0% -76.92% 368.0%
Total Long-Term Assets $20.60M $1.329M $1.953M
YoY Change 1248.36% -31.95% 8.5%
TOTAL ASSETS
Total Short-Term Assets $643.2M $347.5M $167.9M
Total Long-Term Assets $20.60M $1.329M $1.953M
Total Assets $663.8M $348.8M $169.9M
YoY Change 257.51% 105.32% -34.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.12M $7.080M $4.450M
YoY Change 47.17% 59.1% -3.26%
Accrued Expenses $11.48M $9.598M $17.65M
YoY Change -42.07% -45.61% 220.85%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $21.60M $16.68M $22.10M
YoY Change -19.08% -24.52% 118.78%
LONG-TERM LIABILITIES
Long-Term Debt $24.73M $24.62M $0.00
YoY Change 164.02%
Other Long-Term Liabilities $1.039M $1.179M $1.255M
YoY Change -16.21% -6.06% -16.33%
Total Long-Term Liabilities $25.77M $25.80M $1.255M
YoY Change 142.95% 1955.38% -16.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.60M $16.68M $22.10M
Total Long-Term Liabilities $25.77M $25.80M $1.255M
Total Liabilities $47.37M $42.47M $23.35M
YoY Change 26.98% 81.88% 101.31%
SHAREHOLDERS EQUITY
Retained Earnings -$479.3M -$448.2M -$336.3M
YoY Change 31.76% 33.25%
Common Stock $1.096B $754.5M $482.9M
YoY Change 114.0% 56.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $616.4M $306.3M $146.5M
YoY Change
Total Liabilities & Shareholders Equity $663.8M $348.8M $169.9M
YoY Change 257.51% 105.32% -34.05%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$31.08M -$25.83M -$26.03M
YoY Change 13.43% -0.76% 72.49%
Depreciation, Depletion And Amortization $11.00K $11.00K $11.00K
YoY Change 0.0% 0.0% 0.0%
Cash From Operating Activities -$22.39M -$24.63M -$22.88M
YoY Change 14.76% 7.68% 24.69%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$128.3M $17.59M $22.75M
YoY Change -1180.89% -22.68% 19.74%
Cash From Investing Activities -$128.3M $17.59M $22.75M
YoY Change -1180.89% -22.68% 19.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 336.9M 15.15M 132.0K
YoY Change 865.84% 11379.55% 450.0%
NET CHANGE
Cash From Operating Activities -22.39M -24.63M -22.88M
Cash From Investing Activities -128.3M 17.59M 22.75M
Cash From Financing Activities 336.9M 15.15M 132.0K
Net Change In Cash 186.2M 8.111M 6.000K
YoY Change 583.47% 135083.33% -99.12%
FREE CASH FLOW
Cash From Operating Activities -$22.39M -$24.63M -$22.88M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2023Q1 us-gaap Use Of Estimates
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<p style="margin-left:6.667%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:12.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of estimates</span></p><p style="text-indent:6.667%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:12.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of the Company's condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of expenses during the reporting period. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the recognition of research and development expenses, stock-based compensation expense, warrant liabilities and the valuation allowance for deferred tax assets. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates when there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">estimates.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2023Q1 akro Restricted Cash Noncurrent Lease
RestrictedCashNoncurrentLease
108000
CY2022Q4 akro Restricted Cash Noncurrent Lease
RestrictedCashNoncurrentLease
108000
CY2023Q1 us-gaap Debt Securities Available For Sale Amortized Cost Current
DebtSecuritiesAvailableForSaleAmortizedCostCurrent
298329000
CY2023Q1 us-gaap Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
23000
CY2023Q1 us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
2000
CY2023Q1 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
298350000
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-left:6.667%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:12.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentrations of credit risk</span></p><p style="text-indent:6.667%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:12.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents and short-term marketable securities. Periodically, the Company maintains deposits in accredited financial institutions in excess of federally insured limits. The Company deposits its cash investments in financial institutions that it believes have high credit quality and has not experienced any losses on such accounts and does not believe it is exposed to any unusual credit risk beyond the normal credit risk associated with commercial banking relationships. At March 31, 2023, all of the Company's cash, cash equivalents and short-term investments were held at three accredited financial</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">institutions.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:6.667%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:12.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">As of December 31, 2022, the Company held cash deposits at Silicon Valley Bank (“SVB”) in excess of government insured limits. On March 10, 2023, SVB was closed by the California Department of Financial Protection and Innovation, and the Federal Deposit Insurance Corporation (“FDIC”) was appointed as receiver. No losses were incurred by the Company on deposits that were held at SVB. Management believes that the Company is not currently exposed to significant credit risk as the vast majority of the Company’s deposits were either owned directly by the Company and held in custody at a third-party financial institution or, subsequent to March 10, 2023, have been transferred to a third-party financial institution. On March 27, 2023, SVB was acquired by First-Citizen BancShares, Inc ("First-Citizen"). As of March 31, 2023, the Company has approximately €</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">10,463</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> mainly on deposit with SVB, which it expects to transfer to another financial institution in the near term. The Company does not currently have any other significant relationships with SVB or First-Citizen.</span></p>
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
CY2023Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
213012000
CY2023Q1 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
85338000
CY2023Q1 us-gaap Marketable Securities
MarketableSecurities
298350000
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Current
DebtSecuritiesAvailableForSaleAmortizedCostCurrent
292140000
CY2022 us-gaap Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
38000
CY2022 us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
2000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
292176000
CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
190500000
CY2022Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
101676000
CY2022Q4 us-gaap Marketable Securities
MarketableSecurities
292176000
CY2023Q1 akro Research And Development Expenses Current
ResearchAndDevelopmentExpensesCurrent
7091000
CY2022Q4 akro Research And Development Expenses Current
ResearchAndDevelopmentExpensesCurrent
9789000
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1741000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
804000
CY2023Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
356000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
197000
CY2023Q1 akro Short Term Lease Liability And Other Current
ShortTermLeaseLiabilityAndOtherCurrent
410000
CY2022Q4 akro Short Term Lease Liability And Other Current
ShortTermLeaseLiabilityAndOtherCurrent
325000
CY2023Q1 akro Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
9598000
CY2022Q4 akro Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
11115000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
330000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
4250000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
9295000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
10455000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1000000
CY2023Q1 akro Long Term Debt Outstanding Before End Of Charge
LongTermDebtOutstandingBeforeEndOfCharge
25000000
CY2023Q1 akro Long Term Debt End Of Term Charge
LongTermDebtEndOfTermCharge
1462000
CY2023Q1 akro Debt Instrument Carrying Amount And End Of Term Charge
DebtInstrumentCarryingAmountAndEndOfTermCharge
26462000
CY2023Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
1846000
CY2023Q1 us-gaap Long Term Loans Payable
LongTermLoansPayable
24616000
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q1 akro Common Stock Number Of Voting Rights
CommonStockNumberOfVotingRights
1
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
46979056
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
46865206
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
17204230
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
14318383
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y10D
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M7D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7752
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7269
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0384
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0142
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5780004
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.88
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y9M18D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
207611000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
253259
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
47.39
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
105783
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
4.31
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5927480
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
20.36
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y8M1D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
111242000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
5927480
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
20.36
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y8M1D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
111242000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3825782
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
15.28
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P7Y10D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
88190000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
47.39
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
13.62
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4844000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3311000
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
40173000
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y7M6D
CY2023Q1 akro Income Tax Expense Benefit Related To Operating Losses And Credits
IncomeTaxExpenseBenefitRelatedToOperatingLossesAndCredits
0
CY2022Q1 akro Income Tax Expense Benefit Related To Operating Losses And Credits
IncomeTaxExpenseBenefitRelatedToOperatingLossesAndCredits
0
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020Q2 akro Amount Of State Tax Allowed To Be Offset By Losses And Credits
AmountOfStateTaxAllowedToBeOffsetByLossesAndCredits
5000000
CY2020Q2 akro Amount Of State Taxable Income That Can Be Reduced By Operating Losses
AmountOfStateTaxableIncomeThatCanBeReducedByOperatingLosses
1000000
CY2020Q2 akro Amount Of State Taxable Income That Can Be Reduced By Operating Losses
AmountOfStateTaxableIncomeThatCanBeReducedByOperatingLosses
1000000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-25831000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-26029000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46944059
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46944059
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35005501
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35005501
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.55
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.55
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.74
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.74
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6262505
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5583458
CY2020Q1 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P7Y
CY2020Q3 us-gaap Land Subject To Ground Leases
LandSubjectToGroundLeases
6647
CY2020Q1 akro Lessee Operating Lease Liability Payments Due One To Seven
LesseeOperatingLeaseLiabilityPaymentsDueOneToSeven
2300000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
242000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
331000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
341000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
351000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
208000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1473000
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
218000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1255000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1255000
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1017000
CY2023Q1 us-gaap Lease Cost
LeaseCost
142000
CY2022Q1 us-gaap Lease Cost
LeaseCost
122000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
79000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
77000
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y3M18D
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y3M18D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.076
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.076
CY2023Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
14318000

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FilingSummary.xml Edgar Link unprocessable