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Jun 30, 2024
Allakos Q2 2024 Earnings Report
Allakos reported financial results for the second quarter ended June 30, 2024 and provided a business update.
Key Takeaways
Allakos reported a net loss of $26.7 million for the second quarter of 2024. The company ended the quarter with $123.1 million in cash, cash equivalents and investments.
Initiated Phase 1 trial of IV AK006 in patients with chronic spontaneous urticaria.
Completed dosing in the SC AK006 cohort in healthy volunteers.
Reported safety, pharmacokinetics (PK), and pharmacodynamic (PD) results from the Phase 1 trial of IV AK006 in healthy volunteers.
Presented preclinical data at the 2024 European Academy of Allergy and Clinical Immunology (EAACI) Annual Congress on mast cell inhibition with AK006.
Forward Guidance
Allakos' financial outlook, restructuring activities and estimated cash runway as reported by the Company in January 2024 remain unchanged. The Company reiterates that the restructuring activities will extend the cash runway into mid-2026 and continues to expect to end 2024 with total cash, cash equivalents and investments in the range of $81 to $86 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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