$AKRO
Akero Therapeutics Inc

2023 Q3 Form 10-Q Financial Statement

#000095017023041554 Filed on August 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.980M $7.644M
YoY Change -27.48% 22.68%
% of Gross Profit
Research & Development $38.63M $27.99M
YoY Change 54.0% 31.0%
% of Gross Profit
Depreciation & Amortization $10.00K $11.00K
YoY Change -9.09% 0.0%
% of Gross Profit
Operating Expenses $38.63M $27.99M
YoY Change 54.0% 31.0%
Operating Profit -$46.62M -$35.63M
YoY Change 29.16% 29.12%
Interest Expense $888.0K $857.0K
YoY Change 174.07% 1516.98%
% of Operating Profit
Other Income/Expense, Net $5.403M
YoY Change
Pretax Income -$39.66M -$31.08M
YoY Change 11.59% 13.43%
Income Tax
% Of Pretax Income
Net Earnings -$39.66M -$31.08M
YoY Change 11.58% 13.43%
Net Earnings / Revenue
Basic Earnings Per Share -$0.71 -$0.60
Diluted Earnings Per Share -$0.71 -$0.60
COMMON SHARES
Basic Shares Outstanding 55.60M 50.09M
Diluted Shares Outstanding 55.61M 51.87M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $613.0M $658.9M
YoY Change 21.51% 98.15%
Cash & Equivalents $269.5M $444.2M
Short-Term Investments $343.5M $214.7M
Other Short-Term Assets $21.20M $3.759M
YoY Change 437.66% 9.85%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $576.0M $643.2M
YoY Change 52.4% 249.29%
LONG-TERM ASSETS
Property, Plant & Equipment $20.00K $25.00K
YoY Change -64.91% -63.24%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $58.30M $19.45M
YoY Change
Other Assets $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Assets $59.35M $20.60M
YoY Change 3959.64% 1248.36%
TOTAL ASSETS
Total Short-Term Assets $576.0M $643.2M
Total Long-Term Assets $59.35M $20.60M
Total Assets $635.3M $663.8M
YoY Change 67.45% 257.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.45M $10.12M
YoY Change 90.58% 47.17%
Accrued Expenses $14.90M $11.48M
YoY Change -22.53% -42.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.100M
YoY Change
Total Short-Term Liabilities $28.45M $21.60M
YoY Change 12.69% -19.08%
LONG-TERM LIABILITIES
Long-Term Debt $22.80M $24.73M
YoY Change 141.35% 164.02%
Other Long-Term Liabilities $1.000M $1.039M
YoY Change -17.36% -16.21%
Total Long-Term Liabilities $23.80M $25.77M
YoY Change 123.33% 142.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $28.45M $21.60M
Total Long-Term Liabilities $23.80M $25.77M
Total Liabilities $52.20M $47.37M
YoY Change 45.39% 26.98%
SHAREHOLDERS EQUITY
Retained Earnings -$518.9M -$479.3M
YoY Change 29.96% 31.76%
Common Stock $1.103B $1.096B
YoY Change 48.43% 114.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $583.1M $616.4M
YoY Change
Total Liabilities & Shareholders Equity $635.3M $663.8M
YoY Change 67.45% 257.51%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$39.66M -$31.08M
YoY Change 11.58% 13.43%
Depreciation, Depletion And Amortization $10.00K $11.00K
YoY Change -9.09% 0.0%
Cash From Operating Activities -$49.72M -$22.39M
YoY Change 101.92% 14.76%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$125.7M -$128.3M
YoY Change -4290.0% -1180.89%
Cash From Investing Activities -$125.7M -$128.3M
YoY Change -4290.0% -1180.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 800.0K 336.9M
YoY Change -99.63% 865.84%
NET CHANGE
Cash From Operating Activities -49.72M -22.39M
Cash From Investing Activities -125.7M -128.3M
Cash From Financing Activities 800.0K 336.9M
Net Change In Cash -174.6M 186.2M
YoY Change -188.97% 583.47%
FREE CASH FLOW
Cash From Operating Activities -$49.72M -$22.39M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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MarketableSecuritiesUnrealizedGainLoss
24000
us-gaap Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Warrants Issued1
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationWarrantsIssued1
330
akro Debt And Equity Issuance Costs Included In Accounts Payable And Accrued Expenses And Other Current Liabilities
DebtAndEquityIssuanceCostsIncludedInAccountsPayableAndAccruedExpensesAndOtherCurrentLiabilities
206000
akro Debt And Equity Issuance Costs Included In Accounts Payable And Accrued Expenses And Other Current Liabilities
DebtAndEquityIssuanceCostsIncludedInAccountsPayableAndAccruedExpensesAndOtherCurrentLiabilities
344000
akro Deferred Offering Costs Reclassified To Additional Paid In Equity
DeferredOfferingCostsReclassifiedToAdditionalPaidInEquity
364000
akro Deferred Offering Costs Reclassified To Additional Paid In Equity
DeferredOfferingCostsReclassifiedToAdditionalPaidInEquity
150000
us-gaap Proceeds From Issuance Of Redeemable Convertible Preferred Stock
ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
90500000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
105800000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
818900000
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
25000000
us-gaap Net Income Loss
NetIncomeLoss
-56914000
us-gaap Net Income Loss
NetIncomeLoss
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CY2022 us-gaap Net Income Loss
NetIncomeLoss
-112033000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2023Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
658895000
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
us-gaap Use Of Estimates
UseOfEstimates
<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>
CY2022Q4 akro Restricted Cash Noncurrent Lease
RestrictedCashNoncurrentLease
108000
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, short and long-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 June 30, 2023, all of the Company's cash, cash equivalents, short and long-term investments were held at four 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 June 30, 2023, the Company had 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;">8,426</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;"> on deposit with SVB, which it may 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>
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
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AvailableForSaleDebtSecuritiesAmortizedCostBasis
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us-gaap Available For Sale Debt Securities Gross Unrealized Loss
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AvailableForSaleSecuritiesDebtSecurities
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CashAndCashEquivalentsFairValueDisclosure
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MarketableSecuritiesCurrent
195288000
CY2023Q2 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
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CY2023Q2 akro Marketable Securities Including Cash Equivalents
MarketableSecuritiesIncludingCashEquivalents
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CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
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CY2022 us-gaap Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
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CY2022 us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
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CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
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CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
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MarketableSecuritiesCurrent
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CY2022Q4 akro Marketable Securities Including Cash Equivalents
MarketableSecuritiesIncludingCashEquivalents
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CY2022Q4 us-gaap Marketable Securities Current
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MarketableSecuritiesNoncurrent
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MarketableSecurities
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CY2022Q4 us-gaap Marketable Securities
MarketableSecurities
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ResearchAndDevelopmentExpensesCurrent
8352000
CY2022Q4 akro Research And Development Expenses Current
ResearchAndDevelopmentExpensesCurrent
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EmployeeRelatedLiabilitiesCurrent
2372000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
804000
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AccruedProfessionalFeesCurrent
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CY2023Q2 akro Short Term Lease Liability And Other Current
ShortTermLeaseLiabilityAndOtherCurrent
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CY2022Q4 akro Short Term Lease Liability And Other Current
ShortTermLeaseLiabilityAndOtherCurrent
325000
CY2023Q2 akro Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
11481000
CY2022Q4 akro Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
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us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
330000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
4237000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
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CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
10471000
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LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
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LongTermDebtOutstandingBeforeEndOfCharge
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CY2023Q2 akro Long Term Debt End Of Term Charge
LongTermDebtEndOfTermCharge
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CY2023Q2 akro Debt Instrument Carrying Amount And End Of Term Charge
DebtInstrumentCarryingAmountAndEndOfTermCharge
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UnamortizedDebtIssuanceExpense
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LongTermLoansPayable
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CommonStockSharesAuthorized
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CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CommonStockParOrStatedValuePerShare
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akro Common Stock Number Of Voting Rights
CommonStockNumberOfVotingRights
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us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
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CommonStockSharesOutstanding
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CommonStockSharesOutstanding
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
14318383
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CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.731
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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CY2023Q2 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
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us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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CY2022Q2 akro Income Tax Expense Benefit Related To Operating Losses And Credits
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akro Income Tax Expense Benefit Related To Operating Losses And Credits
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akro Income Tax Expense Benefit Related To Operating Losses And Credits
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CY2023Q2 us-gaap Net Income Loss
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CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49419558
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Diluted
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CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6104114
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5954956
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5954956
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
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
163000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
331000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
341000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
351000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
208000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1394000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
195000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1199000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1199000
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
954000
CY2023Q2 us-gaap Lease Cost
LeaseCost
129000
CY2022Q2 us-gaap Lease Cost
LeaseCost
112000
us-gaap Lease Cost
LeaseCost
270000
us-gaap Lease Cost
LeaseCost
234000
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
79000
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
77000
us-gaap Operating Lease Payments
OperatingLeasePayments
159000
us-gaap Operating Lease Payments
OperatingLeasePayments
154000
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y1M6D
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y1M6D
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y1M6D
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y1M6D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.076
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.076
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.076
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.076
CY2023Q2 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
21442000

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