Why Allakos Shares Are Rising Sharply

Allakos Inc ALLK shares are trading higher by 29.26% to $5.92 during Monday's trading session after the company priced an underwritten offering of roughly 29.88 million shares of common stock at $5.02 per share.

All of the shares are to be sold by the company. The offering is expected to close on or about September 21st, subject to satisfaction of customary closing conditions.

See Also: If You Invested $100 In Bitcoin, Ethereum Classic, Apple, Microsoft, Tesla And AMC In March 2020, Here's How Much You'd Have Now

According to data from Benzinga Pro, Allakos has a 52-week high of $112.87 and a 52-week low of $2.54.