SEC Form SC 13G filed by Akero Therapeutics Inc.

3/15/24 10:08:36 AM ET

$AKRO

Biotechnology: Pharmaceutical Preparations

Health Care

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SC 13G 1 eh240458442_13g-akro.htm SCHEDULE 13G

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. )*

Akero Therapeutics, Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

00973Y108

(CUSIP Number)

March 6, 2024

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

	☐	Rule 13d-1(b)
	☒	Rule 13d-1(c)
	☐	Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 00973Y108

SCHEDULE 13G

Page 2 of 25

1	NAME OF REPORTING PERSON General Atlantic, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) ☐ (b) ☒
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware

NUMBER OF

BENEFICIALLY OWNED

BY EACH REPORTING

PERSON

WITH

SOLE VOTING POWER

SHARED VOTING POWER

5,233,989

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

5,233,989

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,233,989
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES	☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.7%
12	TYPE OF REPORTING PERSON PN

CUSIP No. 00973Y108

SCHEDULE 13G

Page 3 of 25

1	NAME OF REPORTING PERSON General Atlantic Partners 100, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) ☐ (b) ☒
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware

NUMBER OF

BENEFICIALLY OWNED

BY EACH REPORTING

PERSON

WITH

SOLE VOTING POWER

SHARED VOTING POWER

5,233,989

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

5,233,989

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,233,989
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES	☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.7%
12	TYPE OF REPORTING PERSON PN

CUSIP No. 00973Y108

SCHEDULE 13G

Page 4 of 25

1	NAME OF REPORTING PERSON GAP Coinvestments III, LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) ☐ (b) ☒
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware

NUMBER OF

BENEFICIALLY OWNED

BY EACH REPORTING

PERSON

WITH

SOLE VOTING POWER

SHARED VOTING POWER

5,233,989

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

5,233,989

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,233,989
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES	☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.7%
12	TYPE OF REPORTING PERSON OO

CUSIP No. 00973Y108

SCHEDULE 13G

Page 5 of 25

1	NAME OF REPORTING PERSON GAP Coinvestments IV, LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) ☐ (b) ☒
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware

NUMBER OF

BENEFICIALLY OWNED

BY EACH REPORTING

PERSON

WITH

SOLE VOTING POWER

SHARED VOTING POWER

5,233,989

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

5,233,989

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,233,989
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES	☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.7%
12	TYPE OF REPORTING PERSON OO

CUSIP No. 00973Y108

SCHEDULE 13G

Page 6 of 25

1	NAME OF REPORTING PERSON GAP Coinvestments V, LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) ☐ (b) ☒
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware

NUMBER OF

BENEFICIALLY OWNED

BY EACH REPORTING

PERSON

WITH

SOLE VOTING POWER

SHARED VOTING POWER

5,233,989

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

5,233,989

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,233,989
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES	☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.7%
12	TYPE OF REPORTING PERSON OO

CUSIP No. 00973Y108

SCHEDULE 13G

Page 7 of 25

1	NAME OF REPORTING PERSON GAP Coinvestments CDA, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) ☐ (b) ☒
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware

NUMBER OF

BENEFICIALLY OWNED

BY EACH REPORTING

PERSON

WITH

SOLE VOTING POWER

SHARED VOTING POWER

5,233,989

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

5,233,989

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,233,989
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES	☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.7%
12	TYPE OF REPORTING PERSON PN

CUSIP No. 00973Y108

SCHEDULE 13G

Page 8 of 25

1	NAME OF REPORTING PERSON General Atlantic (SPV) GP, LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) ☐ (b) ☒
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware

NUMBER OF

BENEFICIALLY OWNED

BY EACH REPORTING

PERSON

WITH

SOLE VOTING POWER

SHARED VOTING POWER

5,233,989

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

5,233,989

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,233,989
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES	☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.7%
12	TYPE OF REPORTING PERSON OO

CUSIP No. 00973Y108

SCHEDULE 13G

Page 9 of 25

1	NAME OF REPORTING PERSON General Atlantic GenPar (Bermuda), L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) ☐ (b) ☒
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Bermuda

NUMBER OF

BENEFICIALLY OWNED

BY EACH REPORTING

PERSON

WITH

SOLE VOTING POWER

SHARED VOTING POWER

5,233,989

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

5,233,989

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,233,989
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES	☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.7%
12	TYPE OF REPORTING PERSON PN

CUSIP No. 00973Y108

SCHEDULE 13G

Page 10 of 25

1	NAME OF REPORTING PERSON General Atlantic GenPar, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) ☐ (b) ☒
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware

NUMBER OF

BENEFICIALLY OWNED

BY EACH REPORTING

PERSON

WITH

SOLE VOTING POWER

SHARED VOTING POWER

5,233,989

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

5,233,989

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,233,989
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES	☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.7%
12	TYPE OF REPORTING PERSON PN

CUSIP No. 00973Y108

SCHEDULE 13G

Page 11 of 25

1	NAME OF REPORTING PERSON General Atlantic (AK), L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) ☐ (b) ☒
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware

NUMBER OF

BENEFICIALLY OWNED

BY EACH REPORTING

PERSON

WITH

SOLE VOTING POWER

SHARED VOTING POWER

5,233,989

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

5,233,989

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,233,989
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES	☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.7%
12	TYPE OF REPORTING PERSON PN

CUSIP No. 00973Y108

SCHEDULE 13G

Page 12 of 25

1	NAME OF REPORTING PERSON GAP (Bermuda) L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) ☐ (b) ☒
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Bermuda

NUMBER OF

BENEFICIALLY OWNED

BY EACH REPORTING

PERSON

WITH

SOLE VOTING POWER

SHARED VOTING POWER

5,233,989

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

5,233,989

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,233,989
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES	☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.7%
12	TYPE OF REPORTING PERSON PN

CUSIP No. 00973Y108

SCHEDULE 13G

Page 13 of 25

1	NAME OF REPORTING PERSON General Atlantic (Lux) S.à.r.l.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) ☐ (b) ☒
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Luxembourg

NUMBER OF

BENEFICIALLY OWNED

BY EACH REPORTING

PERSON

WITH

SOLE VOTING POWER

SHARED VOTING POWER

5,233,989

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

5,233,989

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,233,989
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES	☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.7%
12	TYPE OF REPORTING PERSON CO

CUSIP No. 00973Y108

SCHEDULE 13G

Page 14 of 25

1	NAME OF REPORTING PERSON General Atlantic GenPar (Lux) SCSp
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) ☐ (b) ☒
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Luxembourg

NUMBER OF

BENEFICIALLY OWNED

BY EACH REPORTING

PERSON

WITH

SOLE VOTING POWER

SHARED VOTING POWER

5,233,989

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

5,233,989

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,233,989
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES	☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.7%
12	TYPE OF REPORTING PERSON PN

CUSIP No. 00973Y108

SCHEDULE 13G

Page 15 of 25

1	NAME OF REPORTING PERSON General Atlantic Partners (Lux) SCSp
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) ☐ (b) ☒
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Luxembourg

NUMBER OF

BENEFICIALLY OWNED

BY EACH REPORTING

PERSON

WITH

SOLE VOTING POWER

SHARED VOTING POWER

5,233,989

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

5,233,989

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,233,989
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES	☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.7%
12	TYPE OF REPORTING PERSON PN

CUSIP No. 00973Y108

SCHEDULE 13G

Page 16 of 25

Item 1.	(a)	NAME OF ISSUER

		Akero Therapeutics, Inc. (the “Company”).

	(b)	ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES

		601 Gateway Boulevard, Suite 350 South San Francisco, CA 94080

Item 2.	(a)	NAMES OF PERSONS FILING

This Statement is being filed on behalf of each of the following persons (collectively, the “Reporting Persons”):

	(i)	General Atlantic, L.P. (“GA LP”);

	(ii)	General Atlantic Partners 100, L.P. (“GAP 100”);

	(iii)	GAP Coinvestments III, LLC (“GAPCO III”);

	(iv)	GAP Coinvestments IV, LLC (“GAPCO IV”);

	(v)	GAP Coinvestments V, LLC (“GAPCO V”);

	(vi)	GAP Coinvestments CDA, L.P. (“GAPCO CDA”);

	(vii)	General Atlantic (SPV) GP, LLC (“GA SPV”);

	(viii)	General Atlantic GenPar (Bermuda), L.P. (“GenPar Bermuda”);

	(ix)	General Atlantic GenPar, L.P. (“GA GenPar”);

	(x)	General Atlantic (AK), L.P. (“GA AK”);

	(xi)	GAP (Bermuda) L.P. (“GAP Bermuda”);

	(xii)	General Atlantic (Lux) S.à.r.l. (“GA Lux”);

	(xiii)	General Atlantic GenPar (Lux) SCSp (“GA GenPar Lux”); and

	(xiv)	General Atlantic Partners (Lux) SCSp (“GAP Lux”).

GAP 100, GAP Lux, GAPCO III, GAPCO IV, GAPCO V, and GAPCO CDA are collectively referred to as the “GA Funds.”

CUSIP No. 00973Y108

SCHEDULE 13G

Page 17 of 25

(b)

ADDRESS OR PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE

The address of GA LP, GAP 100, GAPCO III, GAPCO IV, GAPCO V, GAPCO CDA, GA GenPar, GA SPV and GA AK is c/o General Atlantic Service Company, L.P., 55 East 52nd Street, 33rd Floor, New York, NY 10055. The address of GenPar Bermuda and GAP Bermuda is Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda. The address of GA Lux, GA GenPar Lux, and GAP Lux is 412F Route d’Esch, L-1471 Luxembourg.

(c)

CITIZENSHIP

	(i)	GA LP - Delaware

	(ii)	GAP 100 - Delaware

	(iii)	GAPCO III - Delaware

	(iv)	GAPCO IV - Delaware

	(v)	GAPCO V - Delaware

	(vi)	GAPCO CDA - Delaware

	(vii)	GA SPV - Delaware

	(viii)	GenPar Bermuda - Bermuda

	(ix)	GA GenPar - Delaware

	(x)	GA AK - Delaware

	(xi)	GAP Bermuda - Bermuda

	(xii)	GA Lux – Luxembourg

	(xiii)	GA GenPar Lux – Luxembourg

	(xiv)	GAP Lux – Luxembourg

	(d)		TITLE OF CLASS OF SECURITIES

Common Stock, par value $0.0001 per share (the “common stock”).

(e)

CUSIP NUMBER

00973Y108

CUSIP No. 00973Y108

SCHEDULE 13G

Page 18 of 25

Item 3.

IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b) OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS:

Not applicable.

Item 4.

OWNERSHIP.

As of March 15, 2024, the Reporting Persons owned the following number of the Company’s common stock:

	(i)	GA LP owned of record no shares of common stock or 0.0% of the issued and outstanding shares of common stock.

	(ii)	GAP 100 owned of record no shares of common stock or 0.0% of the issued and outstanding shares of common stock.

	(iii)	GAPCO III owned of record no shares of common stock or 0.0% of the issued and outstanding shares of common stock.

	(iv)	GAPCO IV owned of record no shares of common stock or 0.0% of the issued and outstanding shares of common stock.

	(v)	GAPCO V owned of record no shares of common stock or 0.0% of the issued and outstanding shares of common stock.

	(vi)	GAPCO CDA owned of record no shares of common stock or 0.0% of the issued and outstanding shares of common stock.

	(vii)	GA SPV owned of record no shares of common stock or 0.0% of the issued and outstanding shares of common stock.

	(viii)	GenPar Bermuda owned of record no shares of common stock or 0.0% of the issued and outstanding shares of common stock.

	(ix)	GA GenPar owned of record no shares of common stock or 0.0% of the issued and outstanding shares of common stock.

	(x)	GA AK owned of record 5,233,989 shares of common stock or 7.7% of the issued and outstanding shares of common stock.

	(xi)	GAP Bermuda owned of record no shares of common stock or 0.0% of the issued and outstanding shares of common stock.

	(xii)	GA Lux owned of record no shares of common stock or 0.0% of the issued and outstanding shares of common stock.

	(xiii)	GA GenPar Lux owned of record no shares of common stock or 0.0% of the issued and outstanding shares of common stock.

	(xiv)	GAP Lux owned of record no shares of common stock or 0.0% of the issued and outstanding shares of common stock.

CUSIP No. 00973Y108

SCHEDULE 13G

Page 19 of 25

The GA Funds share beneficial ownership of the shares of common stock held by GA AK. The general partner of GA AK is GA SPV. The general partner of GAP 100 is GA GenPar. The general partner of GAP Lux is GA GenPar Lux, and the general partner of GA GenPar Lux is GA Lux. The sole shareholder of GA Lux is GenPar Bermuda. GA LP, which is controlled by the Partnership Committee of GASC MGP, LLC (the “Partnership Committee”*), is the managing member of GAPCO III, GAPCO IV and GAPCO V, the general partner of GAPCO CDA and GA GenPar, and the sole member of GA SPV. The general partner of GenPar Bermuda is GAP Bermuda, which is also controlled by the Partnership Committee. By virtue of the foregoing, the Reporting Persons may be deemed to share voting power and the power to direct the disposition of the shares that each owns of record. Each of the members of the Partnership Committee disclaims ownership of the shares of common stock reported herein except to the extent he has a pecuniary interest therein. The name, the address and the citizenship of each of the members of the Partnership Committee as of the date hereof is attached hereto as Schedule A and is hereby incorporated by reference. *The Partnership Committee is formerly the Management Committee, with composition effective pending applicable regulatory approvals.

Amount Beneficially Owned:

By virtue of the relationship described above, each of the Reporting Persons may be deemed to beneficially own 5,233,989 shares of common stock.

Percentage Owned:

The percentages used herein are calculated based upon on an aggregate of 68,404,445 shares of common stock reported by the Company to be outstanding following the closing of a secondary public offering as reflected in the Company’s prospectus supplement on Form 424B5, filed with the U.S. Securities and Exchange Commission on March 6, 2024, after giving effect to the exercise in full of the underwriters’ over-allotment option as reported by the Company on March 8, 2024.

Number of Shares as to Which Such Person Has Sole/Shared Power to Vote or to Direct the Vote and Sole/Shared Power to Dispose or to Direct the Disposition of:

(i)	Each of the Reporting Persons may be deemed to have the sole power to direct the voting and dispositions of the shares of common stock as indicated on such Reporting Person’s cover page included herein.

(ii)	Each of the Reporting Persons may be deemed to share the power to direct the voting and dispositions of the shares of common stock as indicated on such Reporting Person’s cover page included herein.

Item 5.

OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

Not applicable.

CUSIP No. 00973Y108

SCHEDULE 13G

Page 20 of 25

Item 6.

OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

Not applicable.

Item 7.

IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY

Not applicable.

Item 8.

IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

See Item 2, which states the identity of the members of the group filing this Schedule 13G.

Item 9.

NOTICE OF DISSOLUTION OF GROUP

Not applicable.

Item 10.

CERTIFICATION

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

CUSIP No. 00973Y108

SCHEDULE 13G

Page 21 of 25

Exhibit Index

Exhibit 1.

Joint Filing Agreement as required by Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended.

CUSIP No. 00973Y108

SCHEDULE 13G

Page 22 of 25

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated as of March 15, 2024

GENERAL ATLANTIC, L.P.

By:	/s/ Michael Gosk
	Name:	Michael Gosk
	Title:	Managing Director

GENERAL ATLANTIC PARTNERS 100, L.P.

By:	GENERAL ATLANTIC GENPAR, L.P., its general partner

By:	GENERAL ATLANTIC, L.P., its general partner

By:	/s/ Michael Gosk
	Name:	Michael Gosk
	Title:	Managing Director

GAP COINVESTMENTS III, LLC

By:	GENERAL ATLANTIC, L.P., its managing member

By:	/s/ Michael Gosk
	Name:	Michael Gosk
	Title:	Managing Director

GAP COINVESTMENTS IV, LLC

By:	GENERAL ATLANTIC, L.P., its managing member

By:	/s/ Michael Gosk
	Name:	Michael Gosk
	Title:	Managing Director

CUSIP No. 00973Y108

SCHEDULE 13G

Page 23 of 25

GAP COINVESTMENTS V, LLC

By:	GENERAL ATLANTIC, L.P., its managing member

By:	/s/ Michael Gosk
	Name:	Michael Gosk
	Title:	Managing Director

GAP COINVESTMENTS CDA, L.P.

By:	GENERAL ATLANTIC, L.P., its general partner

By:	/s/ Michael Gosk
	Name:	Michael Gosk
	Title:	Managing Director

GENERAL ATLANTIC (SPV) GP, LLC

By:	/s/ Michael Gosk
	Name:	Michael Gosk
	Title:	Managing Director

GENERAL ATLANTIC GENPAR (BERMUDA), L.P.

By:	GAP (BERMUDA) L.P., its general partner

By:	GAP (Bermuda) GP LIMITED, its general partner

By:	/s/ Michael Gosk
	Name:	Michael Gosk
	Title:	Managing Director

CUSIP No. 00973Y108

SCHEDULE 13G

Page 24 of 25

GENERAL ATLANTIC GENPAR, L.P.

By:	GENERAL ATLANTIC, L.P., its general partner

By:	/s/ Michael Gosk
	Name:	Michael Gosk
	Title:	Managing Director

GENERAL ATLANTIC (AK), L.P.

By:	GENERAL ATLANTIC (SPV) GP, LLC, its general partner

By:	/s/ Michael Gosk
	Name:	Michael Gosk
	Title:	Managing Director

GAP (BERMUDA) L.P.

By:	GAP (BERMUDA) GP LIMITED, its general partner

By:	/s/ Michael Gosk
	Name:	Michael Gosk
	Title:	Managing Director

GENERAL ATLANTIC (LUX) S.À R.L.

By:	/s/ Ingrid van der Hoorn
	Name:	Ingrid van der Hoorn
	Title:	Manager A

By:	/s/ William Blackwell
	Name:	William Blackwell
	Title:	Manager B

CUSIP No. 00973Y108

SCHEDULE 13G

Page 25 of 25

GENERAL ATLANTIC GENPAR (LUX) SCSp

By:	GENERAL ATLANTIC (LUX) S.À R.L., its general partner

By:	/s/ Ingrid van der Hoorn
	Name:	Ingrid van der Hoorn
	Title:	Manager A

By:	/s/ William Blackwell
	Name:	William Blackwell
	Title:	Manager B

GENERAL ATLANTIC PARTNERS (LUX) SCSp

By:	GENERAL ATLANTIC GENPAR (LUX) SCSp, its general partner

By:	GENERAL ATLANTIC (LUX) S.À R.L., its general partner

By:	/s/ Ingrid van der Hoorn
	Name:	Ingrid van der Hoorn
	Title:	Manager A

By:	/s/ William Blackwell
	Name:	William Blackwell
	Title:	Manager B

SCHEDULE A

Members of the Partnership Committee (as of the date hereof)

Name	Business Address	Citizenship
William E. Ford (Chief Executive Officer)	55 East 52nd Street 33rd Floor New York, New York 10055	United States
Gabriel Caillaux	23 Savile Row London W1S 2ET United Kingdom	France
Martin Escobari	55 East 52nd Street 33rd Floor New York, New York 10055	Bolivia and Brazil
David C. Hodgson	55 East 52nd Street 33rd Floor New York, New York 10055	United States
Christopher G. Lanning	55 East 52nd Street 33rd Floor New York, New York 10055	United States

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Date	Price Target	Rating	Analyst
1/30/2025	$35.00 → $63.00	Neutral → Buy	BofA Securities
1/27/2025	$50.00 → $72.00	Buy	H.C. Wainwright
11/18/2024	$65.00	Buy	Citigroup
4/22/2024	$30.00	Neutral	BofA Securities
9/19/2023	$69.00	Overweight	Cantor Fitzgerald
8/28/2023	$83.00	Buy	UBS
1/27/2023	$40.00 → $65.00	Equal-Weight → Overweight	Morgan Stanley
9/14/2022	$10.00 → $50.00	In-line → Outperform	Evercore ISI

SEC Form SC 13G filed by Akero Therapeutics Inc.

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$AKRO Press Releases

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Akero Therapeutics to Present at the Jefferies Global Healthcare Conference

Akero Therapeutics Reports First Quarter 2025 Financial Results and Provides Business Update

Akero Therapeutics and HistoIndex Present New Analyses of Phase 2b HARMONY Trial in Oral and Poster Presentations at the EASL Congress 2025

$AKRO Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

Senior VP, Commercial Strategy Lamy Patrick exercised 4,000 shares at a strike of $44.37 and sold $200,000 worth of shares (4,000 units at $50.00) (SEC Form 4)

Chief Development Officer Yale Catriona exercised 10,000 shares at a strike of $21.10 and sold $392,978 worth of shares (10,000 units at $39.30) (SEC Form 4)

President and CEO Cheng Andrew sold $1,244,455 worth of shares (30,000 units at $41.48), decreasing direct ownership by 5% to 594,324 units (SEC Form 4)

$AKRO SEC Filings

Amendment: SEC Form SCHEDULE 13G/A filed by Akero Therapeutics Inc.

Amendment: SEC Form SCHEDULE 13G/A filed by Akero Therapeutics Inc.

SEC Form 144 filed by Akero Therapeutics Inc.

$AKRO Large Ownership Changes

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Amendment: SEC Form SC 13G/A filed by Akero Therapeutics Inc.

Amendment: SEC Form SC 13G/A filed by Akero Therapeutics Inc.

Amendment: SEC Form SC 13G/A filed by Akero Therapeutics Inc.

$AKRO Leadership Updates

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Akero Therapeutics Reports Second Quarter 2024 Financial Results and Provides Business Update

Akero Therapeutics Appoints Scott Gangloff as Chief Technology Officer

Akero Therapeutics Appoints Patrick Lamy as Senior Vice President, Commercial Strategy

$AKRO Financials

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Akero Therapeutics Reports Preliminary Topline Results Showing Statistically Significant Reversal of Compensated Cirrhosis (F4) Due to MASH—by Both Completer and ITT Analyses—at Week 96 in Phase 2b SYMMETRY Study

Akero Therapeutics to Present Preliminary Topline Week 96 Results from Phase 2b SYMMETRY Study Investigating Efruxifermin in Patients with Compensated Cirrhosis (F4) Due to MASH

Akero Therapeutics Reports Statistically Significant Histological Improvements at Week 96 in Phase 2b HARMONY Study

$AKRO Insider Purchases

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Director Graham G. Walmsley bought $8,787,921 worth of shares (200,000 units at $43.94) (SEC Form 4)

Director Graham G. Walmsley bought $9,600,000 worth of shares (200,000 units at $48.00) (SEC Form 4)

Graham G. Walmsley bought $1,982,940 worth of shares (100,000 units at $19.83) (SEC Form 4)

$AKRO Analyst Ratings

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Akero Therapeutics upgraded by BofA Securities with a new price target

H.C. Wainwright reiterated coverage on Akero Therapeutics with a new price target

Citigroup initiated coverage on Akero Therapeutics with a new price target

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