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Dec 31, 2019
Allakos Q4 2019 Earnings Report
Allakos reported financial results for the fourth quarter and full year ended December 31, 2019.
Key Takeaways
Allakos reported a net loss of $24.6 million in the fourth quarter of 2019, compared to a net loss of $14.5 million in the same period in 2018. The company ended the year with $495.9 million in cash, cash equivalents and marketable securities.
Reported positive results from ENIGMA Phase 2 study in patients with Eosinophilic Gastritis (EG) and/or Eosinophilic Gastroenteritis (EGE).
Presented ENIGMA study results at the 2019 United European Gastroenterology Week and the 2019 American College of Gastroenterology Annual Scientific Meeting.
Reported positive topline results with antolimab (AK002) in three open-label studies in patients with Chronic Urticaria (CU), Severe Allergic Conjunctivitis (SAC) and Indolent Systemic Mastocytosis (ISM).
Closed an underwritten public offering in August 2019, issuing 5,227,272 shares of common stock at an offering price of $77.00 per share, with net proceeds of approximately $377.5 million.
Allakos
Allakos
Forward Guidance
Upcoming 2020 Milestones include initiation of Phase 3 and Phase 2/3 studies, and clinical safety and efficacy results from Phase 1 and open-label studies.
Positive Outlook
- Initiation of a randomized, double-blind, placebo-controlled Phase 3 study using antolimab (AK002) in patients with EG and/or EGE in the first quarter 2020.
- Initiation of a randomized, double-blind, placebo-controlled Phase 2/3 study using antolimab (AK002) in patients with EoE in the first quarter 2020.
- Clinical safety and efficacy results from a six-month, open-label Phase 1 study using antolimab (AK002) in patients with Mast Cell Gastrointestinal Disease (MGID) in the first quarter of 2020.
- Clinical safety and efficacy results from the open-label, long-term extension component of the ENIGMA study in patients with EG and/or EGE in the first half of 2020.
- Completion of a Phase 1 study in healthy volunteers evaluating the safety, tolerability and pharmacokinetics of a subcutaneous formulation of antolimab (AK002) in the second half of 2020.