With hit-and-miss data, Allakos goes the public offering route in $150M ask
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.
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