Clinical Trial Results (Lirentelimab) - In the ATLAS Phase 2 trial for Atopic Dermatitis (AD), the proportion of EASI-75 responders at week 14 was 18% for lirentelimab vs 23% for placebo[17] - In the ATLAS trial, the LS Mean change in EASI score from baseline to week 14 was -36% for lirentelimab and -26.3% for placebo[19] - In the MAVERICK Phase 2b trial for Chronic Spontaneous Urticaria (CSU), the LS Mean change in UAS7 from baseline to week 12 was approximately -26% for both lirentelimab and placebo[37] - In the MAVERICK trial, 6.3% of subjects achieved UAS7 ≤6 with lirentelimab compared to 11.9% with placebo, and 0% achieved UAS7=0 with lirentelimab compared to 14.1% with placebo[39] - Injection-related reactions (IRRs) were observed in 18.5% of lirentelimab-treated patients in the ATLAS trial and 18.2% in the MAVERICK trial, compared to 6.2% and 8.2% in the respective placebo groups[46] Financial Restructuring - The company will reduce its workforce by almost 50%[48] - Estimated 2024 net cash used in operating activities is projected to be $85 to $90 million, which adjusts to $55 to $60 million excluding lirentelimab closeout, severance, and other costs of $30 million[48] - The company expects the cash runway to extend into the middle of 2026[48] AK006 Development - AK006 targets Siglec-6, a more potent inhibitory receptor than Siglec-8, regulating more cellular processes[50] - Preclinical studies indicate AK006 displays significantly stronger mast cell (MC) inhibition than AK002[57] - A Phase 1 trial of AK006 is underway, with data expected from the CSU patient cohort by year-end 2024[83]