Inclusion Criteria:
- Able and willing to understand and sign a written informed consent form that must be obtained prior to the initiation of study procedures
- Age >=18 and <=75 years at enrollment
- History or presence of 2 or more of the 5 components of metabolic syndrome per American Heart Association definition:
- Liver biopsy confirmation of MASH consistent with stage F2 or F3 fibrosis and a NAS score >=4 confirmed by a central pathologist
Exclusion Criteria:
- Contraindication or ineligibility for percutaneous liver biopsy
- ALT or AST >=5*upper limit of normal (ULN)
- Total bilirubin (BILI) >=1.3 milligram per deciliter (mg/dL). Individuals with documented Gilbert's syndrome may be enrolled if they experienced an isolated increase in total BILI of >=1.3 mg/dL and direct BILI is <=20% of total BILI; otherwise, the individual will be excluded.
- Serum albumin <=3.5 grams per deciliter (g/dL)
- International normalized ratio (INR) >=1.3 not due to therapeutic anticoagulation. Individuals receiving chronic anticoagulant treatment with higher INR values may be enrolled at the discretion of the Investigator and Study Medical Monitor.
- Alkaline phosphatase (ALP) >=2*ULN
- Platelet (PLT) count <140,000 per (/) cubic millimeter (mm^3); individuals with a PLT count between 110,000/mm^3 and 140,000/mm^3 may be enrolled after discussion with the Study Medical Monitor.
- Serum creatinine >=1.5 mg/dL or creatinine clearance <=60 milliliter (mL)/minute (min)/1.73 square meter by Chronic Kidney Disease Epidemiology Collaboration equation
- Alpha-fetoprotein >=20 nanogram per milliliter (ng/mL)
- Glycated hemoglobin >=9.0%
- Model for End-Stage Liver Disease score >=12 unless the score is elevated in the absence of liver dysfunction (e.g., Gilbert's syndrome)
- Phosphatidyl ethanol (PEth) >=80 ng/mL at Screening
- Known co-infection with any of the following:
- Human immunodeficiency virus;
- Hepatitis B virus;
- Hepatitis C virus (HCV);
- Hepatitis D virus; or
- Hepatitis E virus.
- Chronic liver disease from any other cause including, but not limited to, alcoholic liver disease; evidence of portal hypertension; viral hepatitis or any history or evidence of cirrhosis on screening liver biopsy; or decompensated liver disease such as clinical ascites, bleeding gastroesophageal varices, hepatorenal syndrome, or hepatic encephalopathy prior to Screening or Day 1.
- Current or history of excessive alcohol intake for >=3 months within the 12-month period prior to Screening