Allakos Provides Business Update and Reports Fourth Quarter 2024 Financial Results
Allakos Inc. (ALLK)
Last allakos inc. earnings: 11/12 04:01 pm
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US:NASDAQ Investor Relations:
investor.allakos.com/investor-relations
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Source: GlobeNewswire
SAN CARLOS, Calif., March 12, 2025 (GLOBE NEWSWIRE) -- Allakos Inc. (the “Company”) (Nasdaq: ALLK), a biotechnology company that has been developing antibodies for the treatment of allergic, inflammatory and proliferative diseases, today provided a business update and reported financial results for the fourth quarter ended December 31, 2024. Recent Allakos Events Reported topline data from the Phase 1 study of AK006 in patients with chronic spontaneous urticaria in January 2025.Announced in January 2025 that the Company was discontinuing further development of AK006, restructuring operations to reduce costs and exploring strategic alternatives. Cash Guidance Allakos ended the fourth quarter of 2024 with $80.8 million in cash, cash equivalents and investments. Allakos’ financial outlook, restructuring activities and estimated cash outlook as reported by the Company in January 2025 remain unchanged. The Company estimates that cash used in restructuring activities to close out AK0
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