Allakos Q1 2022 Earnings Report
Key Takeaways
Allakos reported a net loss of $197.0 million in the first quarter of 2022, compared to a net loss of $55.6 million in the same period in 2021. The increased loss was primarily due to settlement costs related to exiting contractual obligations and workforce reduction.
Initiated a Phase 2 study of subcutaneous lirentelimab in patients with moderate-to-severe atopic dermatitis.
Hosted an Investor Day on February 15, 2022, to discuss results from the ENIGMA 2 and KRYPTOS studies.
Expected to incur approximately $150 million in settlement expenses to exit future manufacturing and other contractual obligations.
Ended the first quarter of 2022 with $246.7 million in cash, cash equivalents and marketable securities.
Allakos
Allakos
Forward Guidance
Allakos anticipates approximately $5 million of the remaining estimated expenses will primarily be classified as research and development costs and will be incurred over the second and third quarters of 2022 with the remainder being incurred thereafter.