Allakos Inc. Enters into Agreement to Be Acquired by Concentra Biosciences, LLC for $0.33 in Cash per Share

Core Points - Allakos Inc. has entered into a definitive merger agreement with Concentra Biosciences, LLC, where Concentra will acquire Allakos for $0.33 in cash per share of Allakos common stock [1][2] - The Board of Directors of Allakos has unanimously approved the merger agreement, determining it to be in the best interests of all shareholders [2] - A wholly owned subsidiary of Concentra is expected to commence a tender offer by April 15, 2025, to acquire all outstanding shares of Allakos common stock [2][3] - The closing of the merger is subject to conditions, including the tender of a majority of Allakos common stock and the availability of at least $35.5 million in cash at closing [3] - Approximately 8.07% of Allakos common stock is held by officers, directors, and affiliates who have signed support agreements to tender their shares in the offer [3] - The merger transaction is anticipated to close in May 2025 [3] Company Overview - Allakos is a biotechnology company focused on developing therapeutics targeting immunomodulatory receptors involved in allergic, inflammatory, and proliferative diseases [4]