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Allakos

Allakos Inc is a clinical-stage company developing therapeutic antibodies that selectively target immunomodulatory receptors present on the surface of immune effector cells involved in allergic, inflammatory, and proliferative diseases. The company's lead program, AK006 targets Siglec-6, an inhibitory receptor expressed selectively on mast cells. Binding of AK006 to Siglec-6 is designed to activate the native inhibitory function of the receptor which in turn reduces mast cell activation.

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Sage Therapeutics rejects Biogen deal offer; Silvus Technologies considers sale/IPO; Allakos downsizes; MrBeast bids on TikTok.

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Allakos halts AK006 development after phase 1 trial disappoints. Restructuring includes workforce cuts and $34 million-$38 million in estimated costs.

Why Is Allakos Stock Plunging On Monday?

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Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.

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U.S. stocks traded lower toward the end of trading, with the Dow Jones index falling around 350 points on Tuesday.

The Dow traded down 0.93% to 37,243.85 while the NASDAQ fell 0.58% to 14,885.45. The S&amp;P 500 also fell, dropping, 0.66% to 4,752.36.

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U.S. stocks traded mostly lower midway through trading, with the Dow Jones index falling more than 150 points on Tuesday.

The Dow traded down 0.46% to 37,421.80 while the NASDAQ fell 0.02% to 14,969.24. The S&amp;P 500 also fell, dropping, 0.17% to 4,775.50.

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Allakos reports disappointing topline data from phase 2 trials for lirentelimab in atopic dermatitis and chronic spontaneous urticaria. Company undergoes restructuring to focus on AK006, extending cash runway into mid-2026.

Trial Setback: Allakos Drops Lead Skin Disorder Candidate, Cuts Workforce By 50%

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 200 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.56% to 37,384.20 while the NASDAQ fell 0.69% to 14,869.02. The S&amp;P 500 also fell, dropping, 0.53% to 4,758.60.

Dow Dips 200 Points; Goldman Sachs Earnings Top Views

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Allakos Provides Business Update and Reports First Quarter 2024 Financial Results

Allakos Announces First Patient Dosed in Phase 1 Trial of AK006 in Chronic Spontaneous Urticaria

Allakos Announces Positive Results from its Ongoing Phase 1 Trial of AK006 in Healthy Volunteers, with AK006 Demonstrating High Receptor Occupancy on Mast Cells and a Favorable Safety Profile

Allakos Provides Business Update and Reports Second Quarter 2024 Financial Results

Allakos Announces Phase 1 Trial Results of Subcutaneous AK006 in Healthy Volunteers

Allakos Provides Business Update and Reports Third Quarter 2024 Financial Results

Kuehn Law Encourages Investors of Allakos Inc. to Contact Law Firm

Allakos Announces Topline Results from its Phase 1 Trial of AK006 in Patients with Chronic Spontaneous Urticaria and Announces Restructuring

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Lycia Therapeutics Announces the Appointment of Chin Lee, MD, MPH, as Chief Medical Officer and Reveals Immunology Pipeline

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