Cal­i­for­nia-based biotech Al­lakos, which works on al­ler­gies and in­flam­ma­tion-re­lat­ed dis­eases, is mak­ing hay while the sun shines.

Ten days af­ter an­nounc­ing luke­warm re­sults of its lead drug can­di­date, the com­pa­ny an­nounced it was seek­ing $150 mil­lion via an un­der­writ­ten of­fer­ing of shares of its com­mon stock $AL­LK.

The com­pa­ny’s 24-week da­ta from its Phase III tri­al EoDyssey was in­ves­ti­gat­ing its lead drug can­di­date lirente­limab in pa­tients with con­firmed eosinophilic duo­deni­tis — a chron­ic in­flam­ma­to­ry dis­ease char­ac­ter­ized by in­flam­ma­tion in the stom­ach and part of the small in­tes­tine.

While the tri­al met its his­to­log­ic co-pri­ma­ry end­point, it did not meet the oth­er, which was pa­tient-re­port­ed symp­to­matic im­prove­ment.

Pre­vi­ous stud­ies from De­cem­ber 2021, two sep­a­rate Phase II/III stud­ies across mul­ti­ple types of eosinophilic gas­troin­testi­nal dis­ease, test­ing lirente­limab had led to sim­i­lar find­ings. They showed sig­nif­i­cant re­duc­tion in eosinophil lev­els in the blood, but no re­lief in pa­tient symp­toms.

Lirente­limab, al­so known as AK002, is an an­ti­body that tar­gets Siglec-8, an in­hibito­ry re­cep­tor part of a fam­i­ly called sial­ic acid-bind­ing im­munoglob­u­lin-type lectins, aka Siglecs.

While Al­lakos da­ta read­outs haven’t been stel­lar, the com­pa­ny is still go­ing ahead with the big cash raise. It is fol­low­ing the foot­steps of oth­er com­pa­nies that have cashed in days af­ter drop­ping da­ta. Re­cent­ly, Akero is­sued a pub­lic of­fer­ing less than 12 hours of un­veil­ing promis­ing da­ta in NASH, where a study met both its pri­ma­ry end­point and mul­ti­ple sec­ondary end­points in more than 100 pa­tients.

An­oth­er ex­am­ple is Re­lay Ther­a­peu­tics, which sought $300 mil­lion af­ter spot­light­ing its bile duct can­cer ther­a­py da­ta at ES­MO this month.

Al­lakos, which was found­ed in 2012, has al­so de­cid­ed to move for­ward with test­ing lirente­limab in chron­ic spon­ta­neous ur­ticaria — a form of hives — and atopic der­mati­tis, an in­di­ca­tion that has been the tar­get of many com­pa­nies and has been dom­i­nat­ed by Sanofi/Re­gen­eron’s Dupix­ent.

The FDA on Tuesday released a warning letter sent earlier this month to the Mason, OH-based site of Procter & Gamble Manufactura, raising questions about the list of ingredients on the label and in the electronic filing.

The warning says that for P&G’s over-the-counter Vicks Nyquil Severe Hot Remedy Cold and Flu Plus Congestion, there’s a “mismatched” list of active ingredients between the labeling and the electronic listing file. The listing file for the active ingredients did not match the active ingredients in the electronic file.

The Federal Trade Commission has gotten involved in a patent feud over Supernus’ Parkinson’s drug Apokyn, a case the agency said may have ‘‘significant implications” for patients who rely on the drug.

Sage Chemical won the first generic approval for its Apokyn formulation (also known as apomorphine hydrochloride injection) back in 2022. The non-ergoline dopamine agonist is approved to treat Parkinson’s symptoms during “off episodes,” such as difficulty moving, tremors and intense cramping. However, regulators specified that the approval pertained to the generic drug cartridges only, not the injector pen required for administration.

The White House’s Office of Science and Technology Policy (OSTP) last year sought to find ways to better coordinate large-scale clinical trials in the US — as the UK lead by example during the pandemic — especially for these emergency clinical trials.

The lobbying group PhRMA Tuesday called for more clinical trial diversity in underserved areas, including by making participation less of a burden, and expanding eligibility criteria when appropriate.