SAN CARLOS, Calif., March 14, 2024 (GLOBE NEWSWIRE) -- Allakos Inc. (the "Company") (NASDAQ:ALLK), a biotechnology company developing antibodies for the treatment of allergic, inflammatory and proliferative diseases, today provided a business update and reported financial results for the fourth quarter and full year ended December 31, 2023. Recent Allakos Events Completed dosing in the single ascending dose (SAD) cohorts and continued dosing in the multiple ascending dose (MAD) cohorts of the randomized, do ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-38582 Allakos Inc. (Exact name of Registrant as specified in its Charter) Delaware 45-4798831 (State or other jurisdiction of (I.R.S. ...

– Atopic dermatitis and prurigo nodularis skin lesions show evidence of MRGPRX2 mast cell activation and activated macrophages – – AK006 inhibited mast cell activation and reduced mast cell numbers in an MRGPRX2-induced skin inflammation model – SAN CARLOS, Calif., Feb. 26, 2024 (GLOBE NEWSWIRE) -- Allakos Inc. (NASDAQ:ALLK), a clinical-stage biotechnology company developing therapeutics that target immunomodulatory receptors present on immune effector cells involved in allergy, inflammatory and proliferati ...

–  Data provide insights on the signaling pathways involved with AK006 mast cell inhibition –– AK006 has a distinct mechanism of action that leads to broad inhibitory effects on mast cells – SAN CARLOS, Calif., Feb. 12, 2024 (GLOBE NEWSWIRE) -- Allakos Inc. (NASDAQ:ALLK), a clinical-stage biotechnology company developing therapeutics that target immunomodulatory receptors present on immune effector cells involved in allergy, inflammatory and proliferative diseases, today announced the publication of new sci ...

Core Viewpoint - Allakos' shares dropped 60.2% following disappointing results from two mid-stage studies of its lead drug lirentelimab, which failed to meet primary endpoints in treating atopic dermatitis and chronic spontaneous urticaria [1][2]. Group 1: Study Results and Drug Development - Allakos reported top-line data from the phase II ATLAS and phase IIb MAVERICK studies, both of which did not achieve their primary endpoints [2]. - The company has decided to halt further clinical development of lirentelimab and will focus on its early-stage candidate AK006 and other preclinical candidates [2][3]. - Allakos is currently conducting early-stage studies of lirentelimab in healthy volunteers, with dosing expected to complete by the end of the current quarter [4]. Group 2: Financial Impact and Restructuring - Following the decision to terminate lirentelimab, Allakos plans to reduce its workforce by nearly half to cut costs, which is expected to extend its cash runway into mid-2026 [3]. - The company anticipates incurring around $30 million in restructuring costs, primarily before the first half of 2024 [3]. - As of the end of December 2023, Allakos reported a cash and cash equivalents balance of $171 million, with expectations to close 2024 with a balance between $81 million and $86 million [3]. Group 3: Market Performance - Over the past year, Allakos' stock has declined by 85%, contrasting with a 12.2% growth in the industry [2].

Allakos (NASDAQ:ALLK) stock is taking a beating on Tuesday after the clinical stage biopharmaceutical company revealed results from its latest study.The bad news here comes from the company’s Phase 2 and Phase 2b clinical trials of lirentelimab. These trials were evaluating the drug as a treatment for atopic dermatitis (ATLAS) and chronic spontaneous urticaria (MAVERICK).Unfortunately for investors in ALLK stock, neither of the clinical trials was a success. They both failed to meet their primary endpoints. ...

Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Allakos Inc. (ALLK) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.Allakos Inc. is a member of our Medical group, which includes 1077 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector ...

Allakos (ALLK) Update / Briefing January 16, 2024 08:00 AM ET Speaker0 Ladies and gentlemen, thank you for standing by. Welcome to LearnTelomob Phase II chronic spontaneous urticaria and atopic dermatitis results. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. To ask a question during the session, you will need to press 11 on your telephone. You will then hear an automated message advising your hand is raised. To withd ...

Existing cash to fund planned ongoing operations into mid-2026AK006 is being tested in a comprehensive Phase 1 clinical program, including: ongoing single and multiple ascending dose trial in healthy volunteersa randomized, double-blind, placebo-controlled trial in patients with CSUa subcutaneous AK006 Phase 1 PK and bioavailability trial Management to host conference call and webcast today at 8:00 am E.T. SAN CARLOS, Calif., Jan. 16, 2024 (GLOBE NEWSWIRE) -- Allakos Inc. (the Company) (NASDAQ:ALLK), a biot ...

– Allakos plans not to pursue further development of lirentelimab; will focus on AK006 clinical development and additional preclinical programs – – Management to host conference call and webcast today at 8:00 am E.T. – SAN CARLOS, Calif., Jan. 16, 2024 (GLOBE NEWSWIRE) -- Allakos Inc. (the "Company") (NASDAQ:ALLK), a biotechnology company developing antibodies for the treatment of allergic, inflammatory and proliferative diseases, today announced topline data from its phase 2 clinical trial in patients with ...