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Dec 30, 2024
Allakos Q4 2024 Earnings Report
Estimated Revenue:$0
Estimated EPS:-$0.21
+60.4% YoY
Key Takeaways
Allakos reported a net income of $0.4 million for the fourth quarter of 2024, a significant improvement from a net loss of $62.6 million in the same period last year, primarily driven by a $23.9 million gain on lease amendment. The company ended the quarter with $80.8 million in cash, cash equivalents, and investments.
Net income for Q4 2024 was $0.4 million, compared to a net loss of $62.6 million in Q4 2023.
Research and development expenses decreased by $39.0 million to $14.8 million in Q4 2024.
General and administrative expenses decreased by $1.4 million to $9.8 million in Q4 2024.
Cash, cash equivalents, and investments totaled $80.8 million at the end of Q4 2024.
Allakos
Allakos
Forward Guidance
Allakos estimates that cash used in restructuring activities to close out AK006 development will be approximately $34 million to $38 million, with a significant majority paid over the first and second quarters of 2025. The company expects to have approximately $35 million to $40 million in cash, cash equivalents, and investments by June 30, 2025.
Positive Outlook
- Estimated cash, cash equivalents, and investments of $35 million to $40 million by June 30, 2025.
- Restructuring efforts aimed at reducing costs.
- Exploration of strategic alternatives for future growth.
- Significant majority of restructuring costs expected to be paid in Q1 and Q2 2025, providing clearer financial outlook thereafter.
- Focus on managing cash burn effectively.
Challenges Ahead
- Discontinuation of further development of AK006.
- Estimated restructuring costs of $34 million to $38 million.
- Uncertainty regarding the outcome of strategic alternatives.
- Potential for cash used in restructuring activities to impact short-term liquidity.
- No specific positive forward guidance on new product development or revenue generation.
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Key Statistics
Market Cap
$29.7M
P/E Ratio
-0.19
Sector
Health Technology
Industry
Pharmaceuticals Major
52-Week High
$1.27
52-Week Low
$0.197