Allakos Q3 2020 Earnings Report
Key Takeaways
Allakos reported a net loss of $42.1 million in the third quarter of 2020, compared to $21.7 million in the same period in 2019. The company ended the quarter with $419.8 million in cash, cash equivalents and marketable securities.
Announced positive results from a prevalence study showing a high percentage of symptomatic patients with GI issues met criteria for EG and/or EoD.
Reported positive safety, pharmacokinetic, and pharmacodynamic results from a Phase 1 study of subcutaneous lirentelimab.
Announced the publication of positive results from the Phase 2 study of lirentelimab in patients with EG and/or EoD (ENIGMA) in the New England Journal of Medicine.
Closed an underwritten public offering in November 2020, issuing 3,506,098 shares of common stock at $82.00 per share, resulting in net proceeds of approximately $271.7 million.
Allakos
Allakos
Forward Guidance
The randomized, double-blind, placebo-controlled Phase 3 study of lirentelimab in patients with EG and/or EoD is ongoing with topline data expected in the second half of 2021. The randomized, double-blind, placebo-controlled Phase 2/3 study of lirentelimab in patients with eosinophilic esophagitis (EoE) is ongoing with topline data expected in the second half of 2021.