$AKRO
Akero Therapeutics Inc

2024 Q2 Form 10-Q Financial Statement

#000095017024057458 Filed on May 10, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $10.42M $9.304M
YoY Change 36.3% 33.56%
% of Gross Profit
Research & Development $55.32M $50.65M
YoY Change 97.68% 132.48%
% of Gross Profit
Depreciation & Amortization $1.000K $1.000K
YoY Change -90.91% -90.91%
% of Gross Profit
Operating Expenses $55.32M $50.65M
YoY Change 97.68% 132.48%
Operating Profit -$65.74M -$59.95M
YoY Change 84.52% 108.51%
Interest Expense $1.231M $991.0K
YoY Change 43.64% 116.85%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$55.99M -$53.34M
YoY Change 80.12% 106.51%
Income Tax
% Of Pretax Income
Net Earnings -$55.99M -$53.34M
YoY Change 80.12% 106.51%
Net Earnings / Revenue
Basic Earnings Per Share -$0.81 -$0.90
Diluted Earnings Per Share -$0.81 -$0.90
COMMON SHARES
Basic Shares Outstanding 69.15M 56.30M
Diluted Shares Outstanding 69.16M 59.31M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $848.3M $903.7M
YoY Change 28.75% 62.46%
Cash & Equivalents $310.4M $623.9M
Short-Term Investments $538.0M $279.8M
Other Short-Term Assets $15.82M $7.615M
YoY Change 320.75% 78.46%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $776.0M $911.3M
YoY Change 20.65% 162.25%
LONG-TERM ASSETS
Property, Plant & Equipment $16.00K $17.00K
YoY Change -36.0% -52.78%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $88.13M $0.00
YoY Change 353.1%
Other Assets
YoY Change
Total Long-Term Assets $89.03M $963.0K
YoY Change 332.14% -27.54%
TOTAL ASSETS
Total Short-Term Assets $776.0M $911.3M
Total Long-Term Assets $89.03M $963.0K
Total Assets $865.0M $912.2M
YoY Change 30.32% 161.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.57M $13.78M
YoY Change 43.94% 94.68%
Accrued Expenses $16.61M $16.48M
YoY Change 44.64% 71.66%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $31.17M $30.26M
YoY Change 44.31% 81.43%
LONG-TERM LIABILITIES
Long-Term Debt $34.96M $34.80M
YoY Change 41.37% 41.38%
Other Long-Term Liabilities $843.0K $928.0K
YoY Change -18.86% -21.29%
Total Long-Term Liabilities $35.80M $35.73M
YoY Change 38.95% 38.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.17M $30.26M
Total Long-Term Liabilities $35.80M $35.73M
Total Liabilities $66.98M $65.99M
YoY Change 41.39% 55.37%
SHAREHOLDERS EQUITY
Retained Earnings -$683.4M -$627.4M
YoY Change 42.6% 40.0%
Common Stock $1.482B $1.474B
YoY Change 35.2% 95.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $798.1M $846.3M
YoY Change
Total Liabilities & Shareholders Equity $865.0M $912.2M
YoY Change 30.32% 161.52%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$55.99M -$53.34M
YoY Change 80.12% 106.51%
Depreciation, Depletion And Amortization $1.000K $1.000K
YoY Change -90.91% -90.91%
Cash From Operating Activities -$57.45M -$35.14M
YoY Change 156.61% 42.66%
INVESTING ACTIVITIES
Capital Expenditures $999.0K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$254.9M $57.85M
YoY Change 98.67% 228.87%
Cash From Investing Activities -$255.9M $57.85M
YoY Change 99.45% 228.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -150.0K 366.9M
YoY Change -100.04% 2321.55%
NET CHANGE
Cash From Operating Activities -57.45M -35.14M
Cash From Investing Activities -255.9M 57.85M
Cash From Financing Activities -150.0K 366.9M
Net Change In Cash -313.5M 389.6M
YoY Change -268.4% 4703.93%
FREE CASH FLOW
Cash From Operating Activities -$57.45M -$35.14M
Capital Expenditures $999.0K
Free Cash Flow -$58.45M
YoY Change

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CY2024Q1 akro Marketable Securities Including Cash Equivalents
MarketableSecuritiesIncludingCashEquivalents
882191000
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-left:6.667%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of estimates</span></p><p style="text-indent:6.667%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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 estimates.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-left:6.667%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentrations of credit risk</span></p><p style="text-indent:6.667%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents and 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 March 31, 2024, all of the Company's cash, cash equivalents and short and long-term investments were held at four accredited financial</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">institutions.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
CY2024Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
882270000
CY2024Q1 us-gaap Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
23000
CY2024Q1 us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
102000
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
541696000
CY2023 us-gaap Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
344000
CY2023 us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
75000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
541965000
CY2023Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
206879000
CY2023Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
315803000
CY2023Q4 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
19283000
CY2023Q4 akro Marketable Securities Including Cash Equivalents
MarketableSecuritiesIncludingCashEquivalents
541965000
CY2024Q1 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
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CY2023Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
315803000
CY2023Q4 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
19283000
CY2024Q1 us-gaap Marketable Securities
MarketableSecurities
279811000
CY2023Q4 us-gaap Marketable Securities
MarketableSecurities
335086000
CY2024Q1 akro Research And Development Expenses Current
ResearchAndDevelopmentExpensesCurrent
13057000
CY2023Q4 akro Research And Development Expenses Current
ResearchAndDevelopmentExpensesCurrent
10041000
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2229000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1296000
CY2024Q1 us-gaap Accrued Professional Fees Current
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CY2023Q4 us-gaap Accrued Professional Fees Current
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CY2024Q1 akro Short Term Lease Liability And Other Current
ShortTermLeaseLiabilityAndOtherCurrent
640000
CY2023Q4 akro Short Term Lease Liability And Other Current
ShortTermLeaseLiabilityAndOtherCurrent
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CY2024Q1 akro Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
16476000
CY2023Q4 akro Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
12090000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
330000
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
431000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
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CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1539000
CY2024Q1 akro Long Term Debt Outstanding Before End Of Charge
LongTermDebtOutstandingBeforeEndOfCharge
35000000
CY2023Q4 akro Long Term Debt Outstanding Before End Of Charge
LongTermDebtOutstandingBeforeEndOfCharge
25000000
CY2024Q1 akro Long Term Debt End Of Term Charge
LongTermDebtEndOfTermCharge
2048000
CY2023Q4 akro Long Term Debt End Of Term Charge
LongTermDebtEndOfTermCharge
1463000
CY2024Q1 akro Debt Instrument Carrying Amount And End Of Term Charge
DebtInstrumentCarryingAmountAndEndOfTermCharge
37048000
CY2023Q4 akro Debt Instrument Carrying Amount And End Of Term Charge
DebtInstrumentCarryingAmountAndEndOfTermCharge
26463000
CY2024Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
2245000
CY2023Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
1499000
CY2024Q1 us-gaap Loans Payable
LoansPayable
34803000
CY2023Q4 us-gaap Loans Payable
LoansPayable
24964000
CY2024Q1 us-gaap Long Term Loans Payable
LongTermLoansPayable
34803000
CY2023Q4 us-gaap Long Term Loans Payable
LongTermLoansPayable
24964000
CY2024Q1 us-gaap Loans Payable
LoansPayable
34803000
CY2023Q4 us-gaap Loans Payable
LoansPayable
24964000
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q1 akro Common Stock Number Of Voting Rights
CommonStockNumberOfVotingRights
1
CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
CY2024Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
69148429
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
55754445
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
15656133
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
13667341
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y10D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8547
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7752
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0396
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0384
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
22.35
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y8M1D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
35133000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
417000
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
23.82
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
233321
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
7.58
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7083656
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
22.92
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y7M17D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
41105000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
7083656
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
22.92
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P7Y7M17D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
41105000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
4158791
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
19.53
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y7M20D
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
31291000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
23.82
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
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1017000
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OperatingLeaseLiabilityNoncurrent
750000
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7398000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4844000
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
52243000
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
14975000
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y9M10D
CY2024Q1 akro Income Tax Expense Benefit Related To Operating Losses And Credits
IncomeTaxExpenseBenefitRelatedToOperatingLossesAndCredits
0
CY2023Q1 akro Income Tax Expense Benefit Related To Operating Losses And Credits
IncomeTaxExpenseBenefitRelatedToOperatingLossesAndCredits
0
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-53344000
CY2023Q1 us-gaap Net Income Loss
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-25831000
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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59307759
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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59307759
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46944059
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46944059
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.9
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.9
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.55
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.55
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7965752
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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6262505
CY2020Q1 us-gaap Lessor Operating Lease Term Of Contract
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P7Y
CY2020Q3 us-gaap Land Subject To Ground Leases
LandSubjectToGroundLeases
6647
CY2020Q1 akro Lessee Operating Lease Liability Payments Due One To Seven
LesseeOperatingLeaseLiabilityPaymentsDueOneToSeven
2300000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
249000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
341000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
351000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
209000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1150000
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
133000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1017000
CY2024Q1 us-gaap Lease Cost
LeaseCost
161000
CY2023Q1 us-gaap Lease Cost
LeaseCost
142000
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
82000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
79000
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y3M18D
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y3M18D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.076
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.076
CY2024Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
36441000
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
true

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