The US biotech is hoping to either partner off its wholly owned pipeline or become a target for an acquisition or merger after AstraZeneca’s asthma exit left it with dwindling cash, and a need to cut costs.

With a Phase II gastric cancer asset discontinued for financial reasons last year, the pipeline at Pieris is looking very bare now that AstraZeneca has discontinued a mid-stage trial of its asthma candidate elarekibep.

With Akero’s FGF21 analog showing ability to reduce fibrosis and resolve non-alcoholic steatohepatitis, some analysts think classmate BIO89-100 could yield a better overall profile. NASH data are starting to pour in.

Looking ahead to lengthy, expensive Phase III NASH studies, Akero looks to tap public markets for $200m. Analysts call EFX’s Phase IIb data potentially best-in-class.