Last10K.com

Allakos Inc. (ALLK) SEC Filing 10-Q Quarterly Report for the period ending Thursday, September 30, 2021

Allakos Inc.

CIK: 1564824 Ticker: ALLK

Exhibit 99.1

 

Allakos Provides Business Update and Reports Second Quarter 2021 Financial Results

REDWOOD CITY, Calif., August 9, 2021

– Allakos Inc. (the “Company”) (Nasdaq: ALLK), a biotechnology company developing lirentelimab (AK002) for the treatment of eosinophil and mast cell-related diseases, today provided a business update and reported financial results for the second quarter ended June 30, 2021.

Recent Accomplishments

 

Presented new data at Digestive Disease Week (DDW) 2021 suggesting eosinophilic gastritis and/or eosinophilic duodenitis (EG/EoD) is significantly underdiagnosed and may be a common cause of moderate-to-severe gastrointestinal symptoms. Forty-five percent (45%, 181/405) of patients with chronic functional gastrointestinal symptoms who underwent upper endoscopy with biopsy met the diagnostic criteria for EG/EoD.

 

Completed patient enrollment in Phase 3 EG/EoD and Phase 2/3 eosinophilic esophagitis (EoE) clinical trials of lirentelimab (AK002).

Upcoming 2021 Milestones

 

Topline data from a randomized, double-blind, placebo-controlled Phase 3 study of lirentelimab in patients with EG/EoD expected in the fourth quarter of 2021.

 

Topline data from a randomized, double-blind, placebo-controlled Phase 2/3 study of lirentelimab in patients with EoE expected in the fourth quarter of 2021.

 

Initiation of a randomized, double-blind, placebo-controlled Phase 2/3 study of subcutaneous lirentelimab in patients with EG and/or EoD expected in the second half of 2021.

 

Initiation of a Phase 2 study in a non-eosinophilic gastrointestinal disease in the second half of 2021.

Second Quarter 2021 Financial Results

Research and development expenses were $41.0 million in the second quarter of 2021 as compared to $28.3 million in the same period in 2020, an increase of $12.7 million.

General and administrative expenses were $16.2 million in the second quarter of 2021 as compared to $12.1 million in the same period in 2020, an increase of $4.1 million.

Allakos reported a net loss of $57.2 million in the second quarter of 2021 as compared to $39.3 million in the same period in 2020, an increase of $17.9 million. Net loss per basic and diluted share was $1.07 for the second quarter of 2021 compared to $0.80 in the same period in 2020.

Allakos ended the second quarter of 2021 with $559.7 million in cash, cash equivalents and marketable securities.

About Allakos

Allakos is a clinical stage biotechnology company developing antibodies that target immunomodulatory receptors present on immune effector cells involved in allergic, inflammatory, and proliferative diseases. The Company’s lead antibody, lirentelimab (AK002), is being evaluated in a Phase 3 study in eosinophilic


The following information was filed by Allakos Inc. (ALLK) on Monday, August 9, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Allakos Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Allakos Inc..

Continue

Assess how Allakos Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Allakos Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Financial
Revenue
M & A
Other
Filter Subcategory:
All
Expense
Product
Income
Other
Inside Allakos Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Balance Sheets (Unaudited)
Balance Sheets (Unaudited) (Parenthetical)
Statements Of Cash Flows (Unaudited)
Statements Of Operations And Comprehensive Loss (Unaudited)
Statements Of Stockholders' Equity (Unaudited)
Balance Sheet Components And Supplemental Disclosures
Balance Sheet Components And Supplemental Disclosures (Tables)
Balance Sheet Components And Supplemental Disclosures - Additional Information (Details)
Balance Sheet Components And Supplemental Disclosures - Schedule Of Accrued Expenses And Other Current Liabilities (Details)
Balance Sheet Components And Supplemental Disclosures - Schedule Of Property And Equipment, Net (Details)
Contingencies
Contingencies - Additional Information (Details)
Defined Contribution Plans
Defined Contribution Plans - Additional Information (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Details)
Fair Value Measurements - Summary Of Financial Assets Measured At Fair Value On Recurring Basis (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Summary Of Classification Of Company's Operating Lease Liabilities (Details)
Leases - Summary Of Components Of Lease Costs (Details)
Leases - Summary Of Future Lease Payments Required Under Operating Leases (Details)
Marketable Securities
Marketable Securities (Tables)
Marketable Securities - Additional Information (Details)
Marketable Securities - Summary Of Amortized Cost, Gross Unrealized Holding Gains Or Losses, And Fair Value Of Marketable Securities (Details)
Organization And Business
Organization And Business - Additional Information (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Details)
Stock-Based Compensation - Summary Of Rsu Activity Under 2018 Plan (Details)
Stock-Based Compensation - Summary Of Stock Option Activity (Details)
Stock-Based Compensation - Summary Of Total Stock-Based Compensation Expense Recognized (Details)
Stock-Based Compensation - Summary Of Weighted-Average Assumptions Used To Calculate Fair Value Of Stock Options Granted (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Information (Details)
Summary Of Significant Accounting Policies - Calculation Of Basic And Diluted Net Loss Per Share (Details)
Summary Of Significant Accounting Policies - Reconciliation Of Cash, Cash Equivalents And Restricted Cash (Details)
Summary Of Significant Accounting Policies - Summary Of Potentially Dilutive Securities Excluded From Calculation Of Diluted Net Loss Per Share (Details)

Material Contracts, Statements, Certifications & more

Allakos Inc. provided additional information to their SEC Filing as exhibits

Ticker: ALLK
CIK: 1564824
Form Type: 10-Q Quarterly Report
Accession Number: 0000950170-21-003465
Submitted to the SEC: Mon Nov 08 2021 4:12:05 PM EST
Accepted by the SEC: Mon Nov 08 2021
Period: Thursday, September 30, 2021
Industry: Pharmaceutical Preparations

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/allk/0000950170-21-003465.htm