Allakos Stock Price, News & Analysis

Allakos Inc. (Nasdaq: ALLK) announced the acceptance of two oral and five poster presentations at the Digestive Disease Week (DDW) Annual Meeting, scheduled for May 21-23, 2021. The presentations will focus on the treatment of eosinophil and mast cell-related diseases, specifically the company's lead antibody, lirentelimab (AK002). Key topics include the discovery of eosinophilic gastritis and the long-term treatment outcomes with lirentelimab. Following the event, materials will be available on Allakos' website, highlighting their ongoing clinical studies and advancements.

Allakos Inc. (Nasdaq: ALLK) reported its fourth quarter and full year 2020 financial results on March 1, 2021. The company announced significant findings from a prevalence study, revealing that 45% of patients with chronic gastrointestinal symptoms met criteria for eosinophilic gastritis or eosinophilic duodenitis, indicating underdiagnosis. Notable pharmacokinetic results from a Phase 1 study of lirentelimab showed a 63% bioavailability and effective eosinophil suppression. However, the company reported a net loss of $153.5 million for 2020, up from $85.4 million in 2019, and closed a public offering that raised approximately $271.7 million.

Allakos Inc. (NASDAQ: ALLK) announced the appointment of Natalie Holles to its board of directors, enhancing the company’s leadership team as it advances late-stage clinical trials of lirentelimab (AK002). With over two decades of experience in biotechnology, Holles previously led Audentes Therapeutics and has held key roles at various companies. Her expertise is expected to provide valuable insights for the potential commercialization of lirentelimab, which targets eosinophil and mast cell-related diseases, currently undergoing clinical studies.

Allakos Inc. (Nasdaq: ALLK) reported its Q3 2020 financial results, showing a net loss of $42.1 million, up from $21.7 million in Q3 2019. R&D expenses rose to $30.4 million, while G&A expenses increased to $12.1 million. A study found that 45% of patients with chronic GI symptoms met criteria for eosinophilic gastritis and/or eosinophilic duodenitis, highlighting a need for increased diagnosis. The company also announced positive results from a Phase 1 study of lirentelimab and closed a public offering, raising approximately $271.7 million. Cash reserves stand at $419.8 million, excluding the recent offering.

Allakos Inc. (NASDAQ: ALLK) recently presented findings at the American College of Gastroenterology 2020 Virtual Annual Scientific Meeting, highlighting a systematic endoscopic biopsy protocol that discovered many previously undiagnosed patients with eosinophilic gastritis and duodenitis. The presentation was made by Kathryn A. Peterson, MD. Allakos is developing lirentelimab (AK002) for these conditions and has received orphan drug designation for it. Eosinophilic diseases are often under-diagnosed, affecting up to 200,000 individuals in the U.S. without approved treatments specifically targeting these diseases.

Allakos Inc. (Nasdaq: ALLK) has announced a public offering of its common stock, raising $250 million by offering 3,048,781 shares at $82.00 each. The offering is expected to close on November 2, 2020, contingent on customary closing conditions. The underwriters have a 30-day option to purchase an additional 457,317 shares. Proceeds are designated for general corporate purposes. Notably, Jefferies, BofA Securities, and SVB Leerink are leading the offering, with registration details available via the SEC.

Allakos Inc. (Nasdaq: ALLK) reported preliminary financial results for Q3 2020, indicating a projected net loss between $40 million and $50 million, a significant increase from $21.7 million in Q3 2019. The company's cash and equivalents are estimated at $419.8 million as of September 30, 2020. Allakos anticipates releasing its complete financial results on November 9, 2020. The press release highlights that these figures are preliminary and subject to changes, emphasizing the company's ongoing clinical trials for its lead compound, lirentelimab (AK002).

Allakos Inc. (Nasdaq: ALLK) announced a proposed public offering of $250 million in common stock. The offering may include an additional $37.5 million if underwriters exercise their option. Proceeds will support general corporate purposes, though market conditions could affect the actual completion of the offering. Jefferies, BofA Securities, and SVB Leerink are managing the offering, with additional co-managers. This announcement follows SEC's effective registration statement filed in 2019.

Allakos Inc. announced promising results from a Phase 1 study of its subcutaneous formulation of lirentelimab (AK002), showing it was safe, well tolerated, and produced sustained eosinophil suppression. The study evaluated various dosages in healthy volunteers and achieved a bioavailability of 63% for the subcutaneous administration. Due to the positive results, Allakos plans to explore monthly dosing of lirentelimab in patients with eosinophil-related diseases. No serious adverse events were reported during the trial.