Allakos Stock Price, News & Analysis

Allakos Inc. reported mixed results from its liretnelimab clinical trials:

The ENIGMA 2 Phase 3 and KRYPTOS Phase 2/3 studies met histologic co-primary endpoints for patients with eosinophilic gastritis, eosinophilic duodenitis, and eosinophilic esophagitis. However, both studies missed patient-reported symptomatic endpoints, raising concerns about the drug's effectiveness in improving quality of life. Despite this, Allakos plans to continue developing lirentelimab for other conditions, including atopic dermatitis and asthma.

Allakos Inc. (Nasdaq: ALLK) announced the initiation of a Phase 2 clinical trial for lirentelimab in moderate-to-severe atopic dermatitis. This study will enroll around 240 patients over 16 weeks. Plans were also revealed for Phase 2/3 trials for chronic spontaneous urticaria in mid-2022 and asthma by Q4 2022. Lirentelimab targets Siglec-8, aimed at treating eosinophil and mast cell-driven diseases, highlighting its potential in various inflammatory conditions.

Allakos Inc. (Nasdaq: ALLK) provided a business update and reported its Q3 2021 financial results on November 8, 2021. The company presented data indicating a high prevalence of eosinophilic gastritis and/or eosinophilic duodenitis (EG/EoD), with 45% of patients meeting diagnostic criteria. Upcoming milestones include topline data for lirentelimab studies in EG/EoD and EoE expected in late 2021 or early 2022. Financially, R&D expenses rose to $43.6 million, while general and administrative expenses increased to $19.1 million. The net loss was $62.7 million, amounting to $1.16 per share, with $505.6 million in cash at quarter-end.

Allakos Inc. (Nasdaq: ALLK) announced that its study on eosinophilic gastritis and/or eosinophilic duodenitis (EG/EoD) received the ACG Presidential Poster Award at the 2021 Annual Scientific Meeting. The study found that 45% of patients with moderate-to-severe unexplained gastrointestinal symptoms met histologic criteria for EG/EoD. This highlights the potential underdiagnosis of EG/EoD, suggesting the need for systematic evaluation. The investigational drug lirentelimab showed promise in clinical trials, offering hope for better diagnostic guidelines and treatment for affected patients.

Allakos Inc. (Nasdaq: ALLK) announced six poster presentations for lirentelimab (AK002) at the ACG Annual Scientific Meeting, occurring from Oct 22-27, 2021, in Las Vegas and virtually. The posters cover studies on eosinophilic gastritis and eosinophilic duodenitis, focusing on diagnosis, safety, efficacy, and related diseases. Notably, lirentelimab targets Siglec-8 and is being evaluated in multiple clinical trials. Following the presentations, materials will be accessible on the Allakos website.

Allakos Inc. (Nasdaq: ALLK) reported its second-quarter 2021 financial results and business updates. The company highlighted a significant underdiagnosis of eosinophilic gastritis and/or eosinophilic duodenitis, where 45% of patients with chronic gastrointestinal symptoms met diagnostic criteria. Allakos completed patient enrollment in Phase 3 and Phase 2/3 clinical trials for lirentelimab (AK002). Financially, research and development expenses rose to $41 million, with a net loss of $57.2 million. The company maintains a solid financial position with $559.7 million in cash and marketable securities.

Allakos Inc. (Nasdaq: ALLK) announced the completion of enrollment in two pivotal clinical trials for lirentelimab (AK002), aimed at treating eosinophilic gastritis and eosinophilic esophagitis. Results from these studies are expected in Q4 2021. The company also revealed that CMO Henrik Rasmussen will retire, with Craig Paterson being promoted to this role. Paterson brings extensive experience in gastroenterology and immunology, crucial for advancing the lirentelimab program, which targets severe diseases driven by eosinophils and mast cells.

Allakos Inc. (Nasdaq: ALLK) reported significant findings at Digestive Disease Week 2021 about eosinophilic gastritis (EG) and eosinophilic duodenitis (EoD) in patients with chronic gastrointestinal symptoms. The study revealed that 45% of patients undergoing upper endoscopy with biopsy met the criteria for EG/EoD. 73% of screened patients (405 of 556) met symptom severity criteria. The underdiagnosis of EG/EoD suggests the need for improved biopsy techniques. Allakos is developing lirentelimab (AK002), targeting these conditions, with ongoing Phase 3 and future study results anticipated.

Allakos Inc. (ALLK) reported its financial results for Q1 2021 on May 10, showing a net loss of $55.6 million, up from $27.8 million in Q1 2020. R&D expenses surged to $38.9 million, while general and administrative costs rose to $16.7 million. The company is advancing its Phase 3 study of lirentelimab for eosinophilic duodenitis and has presented multiple studies at the Digestive Disease Week. Allakos maintains a robust cash position, ending Q1 with $615.9 million in liquid assets. Upcoming data releases are anticipated in Q4 2021.