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Allakos Inc - ALLK STOCK NEWS

Welcome to our dedicated news page for Allakos (Ticker: ALLK), a resource for investors and traders seeking the latest updates and insights on Allakos.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Allakos's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Allakos's position in the market.

Rhea-AI Summary
Allakos Inc. provided a business update and financial results for Q4 and FY 2023. Recent events include progress in clinical trials for AK006, publication of preclinical research, and restructuring to focus on AK006 development. The company expects cash runway extension till mid-2026. Financially, Q4 2023 saw increased R&D expenses, a net loss of $62.6 million, and ending with $170.8 million in cash.
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End-of-Day
0.38%
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Rhea-AI Summary
Allakos Inc. (Nasdaq: ALLK) presented preclinical data on AK006's ability to inhibit mast cell activation and reduce inflammation in skin diseases like atopic dermatitis and prurigo nodularis at the 2024 AAAAI Annual Meeting.
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End-of-Day
7.35%
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Rhea-AI Summary
Allakos Inc. (Nasdaq: ALLK) announces new scientific results on AK006 mast cell inhibition, revealing a distinct mechanism of action with broad inhibitory effects on mast cells. The research highlights the impact of AK006 on mast cell function through interactions with activating receptors and signaling molecules.
Rhea-AI Impact
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End-of-Day
3.73%
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none
Rhea-AI Summary
Allakos Inc. announced a restructuring to focus on AK006 clinical development and additional preclinical programs, with the cash runway extended into mid-2026. The Company will halt lirentelimab-related activities and reduce its workforce by approximately 50%. The Company ended Q4 2023 with approximately $171 million in cash, cash equivalents, and investments. The estimated 2024 net cash used in operating activities is $85 to $90 million, with an anticipated year-end 2024 cash, cash equivalents, and investments of $81 to $86 million. Anticipated milestones include completing dosing in the single and multiple ascending dose cohorts of the randomized, double-blind, placebo-controlled Phase 1 trial of IV AK006 in healthy volunteers and initiating the Phase 1 trial of IV AK006 in patients with chronic spontaneous urticaria (CSU).
Rhea-AI Impact
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End-of-Day
-60.2%
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Rhea-AI Summary
Allakos Inc. announced the decision not to pursue further development of lirentelimab after disappointing phase 2 clinical trial data in patients with atopic dermatitis and chronic spontaneous urticaria. The company will focus on AK006 clinical development and additional preclinical programs. The trials did not meet their primary endpoints, leading to the decision to discontinue further clinical development of lirentelimab. The company expressed gratitude to all clinical trial investigators, site coordinators, and patients involved in the trials. The webcast and conference call to discuss the topline data from the trials will take place on January 16th, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-60.2%
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Rhea-AI Summary
Allakos Inc. (Nasdaq: ALLK) reported on third-quarter results, recent events, and upcoming milestones. The company completed enrollment in Phase 2 studies for lirentelimab, began dosing patients in the Phase 1 study of AK006, and appointed new board members. Anticipated milestones include topline data from Phase 2 studies and initiation of randomized, double-blind, placebo-controlled cohorts. Financially, research and development expenses increased by $18.3 million, while general and administrative expenses decreased by $1.5 million. The net loss for the third quarter was $45.6 million, with a net decrease in cash, cash equivalents, and investments of $27.2 million.
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Rhea-AI Sentiment
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1.67%
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Rhea-AI Summary
Allakos Inc. appoints Neil Graham, M.D. to board of directors.
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-1.71%
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-7.96%
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Rhea-AI Summary
Allakos Inc. (Nasdaq: ALLK) announces the appointment of Rand Sutherland, M.D. and Dolca Thomas, M.D. to its board of directors. Both doctors bring extensive experience in biotechnology and pharmaceutical companies, with Dr. Sutherland's background in Seeker Biologics, Translate Bio, Inc., and Sanofi, while Dr. Thomas has held positions at Equillium, Inc. and Principia Biopharma, Inc. This move signifies Allakos' commitment to strengthening its leadership team and leveraging expertise in immunomodulatory therapeutics.
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-2%
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management
Allakos Inc

Nasdaq:ALLK

ALLK Rankings

ALLK Stock Data

92.27M
58.11M
1.96%
87.45%
6.32%
Research and Development in Biotechnology
Professional, Scientific, and Technical Services
Link
US
Redwood City

About ALLK

allakos inc is a biotechnology company located in 7400 paseo padre pkwy, fremont, ca, united states.