Allakos Stock Price, News & Analysis

Allakos (ALLK) has announced significant operational changes in its Q4 2024 report. The company discontinued development of AK006 following topline data from its Phase 1 study in chronic spontaneous urticaria patients in January 2025. Financial highlights include:

The company ended Q4 2024 with $80.8 million in cash and investments, with projected cash of $35-40 million by June 2025 after restructuring costs of $34-38 million. R&D expenses decreased to $14.8 million from $53.8 million year-over-year, while G&A expenses reduced to $9.8 million from $11.2 million.

Notably, Allakos reported a net income of $0.4 million in Q4 2024, compared to a net loss of $62.6 million in Q4 2023, primarily due to a $23.9 million gain from a lease termination agreement.

Allakos (ALLK) announced that its phase 1 clinical trial of AK006 in chronic spontaneous urticaria (CSU) failed to demonstrate therapeutic activity. The trial involved 34 patients with moderate-to-severe CSU, randomized 2:1 to receive either 720 mg of AK006 (23 patients) or placebo (11 patients) every four weeks.

Following these disappointing results, Allakos will discontinue further development of AK006 and implement a major restructuring, including a 75% workforce reduction. The company will retain approximately 15 employees to explore strategic alternatives and maintain regulatory compliance.

Financially, Allakos ended Q4 2024 with $81 million in cash and investments. The restructuring costs are estimated at $34-38 million, with most payments expected in H1 2025. The company projects to have $35-40 million in cash and investments by June 30, 2025.

Allakos Inc. (Nasdaq: ALLK) announced results from the Phase 1 study of subcutaneous AK006 in healthy volunteers. AK006, a Siglec-6 monoclonal antibody, selectively inhibits mast cells and is being developed for mast cell-driven diseases. Key findings include:

- Subcutaneous AK006 showed approximately 77% bioavailability
- Estimated half-life of 12-22 days
- High levels of receptor occupancy in skin tissue mast cells
- 720 mg dose showed 98% receptor occupancy at day 113
- Well-tolerated with a favorable safety profile
- No serious adverse events or discontinuations due to treatment

The ongoing Phase 1 study includes a CSU arm with top-line results expected in early Q1 2025. This arm will evaluate the efficacy of 720 mg IV AK006 Q4W in antihistamine refractory CSU patients.

Allakos Inc. (Nasdaq: ALLK) has provided a business update and financial results for Q2 2024. Key highlights include:

1. Initiation of a Phase 1 trial for IV AK006 in chronic spontaneous urticaria patients
2. Completion of dosing in the SC AK006 cohort for healthy volunteers
3. Presentation of preclinical data on AK006 at EAACI 2024
4. Q2 2024 ended with $123.1 million in cash, cash equivalents, and investments
5. Reiteration of financial outlook and cash runway into mid-2026
6. Q2 2024 net loss of $26.7 million, or $0.30 per share

The company expects to report SC AK006 trial results in Q3 2024 and CSU trial data by year-end 2024.

Allakos has announced positive results from the Phase 1 trial of AK006, a Siglec-6 monoclonal antibody being developed to treat mast cell-driven diseases. The drug demonstrated high receptor occupancy on mast cells and a favorable safety profile, with no serious adverse events. Healthy volunteers received single and multiple ascending doses up to 720 mg, achieving serum concentrations consistent with inhibitory activity shown in preclinical experiments. High levels of receptor occupancy were confirmed through skin biopsies. AK006 showed dose linear exposure and an estimated half-life of 21 days for the 720 mg IV dose. The ongoing trial also includes a cohort of patients with chronic spontaneous urticaria (CSU), with preliminary efficacy data expected by year-end 2024.

Allakos (Nasdaq: ALLK) announced the first patient dosing in a Phase 1 trial of AK006 for chronic spontaneous urticaria (CSU). The trial is designed to assess the safety, tolerability, and pharmacokinetics of AK006, and evaluate its therapeutic effects through the urticaria activity score (UAS7) over 14 weeks. Top-line results are expected by the end of 2024. CSU is caused by the inappropriate activation of mast cells in the skin, with both IgE-dependent and IgE-independent pathways implicated. AK006 targets these pathways, potentially benefiting a broader patient population.

Allakos Inc. provided a business update and reported financial results for the first quarter of 2024. The company completed dosing in various trials for its AK006 drug, published preclinical research, and presented data at a major conference. Upcoming milestones include reporting trial results and financial outlook remains stable. Allakos ended the quarter with $139.3 million in cash, showing a net decrease of $31.5 million. The company reported increased R&D expenses due to manufacturing costs and a non-cash impairment charge, resulting in a net loss of $71.1 million.