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Allakos Inc. (ALLK) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

Allakos Inc.

CIK: 1564824 Ticker: ALLK

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Exhibit 99.1

 

Allakos Provides Business Update and Reports Fourth Quarter and Full Year 2021 Financial Results

REDWOOD CITY, Calif., March 1, 2022 (GLOBE NEWSWIRE)

– Allakos Inc. (the “Company”) (Nasdaq: ALLK), a biotechnology company developing lirentelimab (AK002) and AK006 for the treatment of allergic and inflammatory diseases, today provided a business update and reported financial results for the fourth quarter and full year ended December 31, 2021.

Recent Events

Initiated a Phase 2 randomized, double-blind, placebo-controlled study of subcutaneous lirentelimab in patients with moderate-to-severe atopic dermatitis in the fourth quarter of 2021.
Reported topline data from ENIGMA 2, a Phase 3 randomized, double-blind, placebo-controlled study of lirentelimab in patients with eosinophilic gastritis/eosinophilic duodenitis (“EG”/“EoD”) in the fourth quarter of 2021.
Reported topline data from KRYPTOS, a Phase 2/3 randomized, double-blind, placebo-controlled study of lirentelimab in patients with eosinophilic esophagitis (“EoE”) in the fourth quarter of 2021.

Upcoming Milestones

Hold an End-of-Phase 2 meeting with the FDA during second quarter of 2022 to discuss the Phase 2/3 KRYPTOS data and the development path with subcutaneous lirentelimab in patients with EoE.
Report topline data from the Phase 3 study of lirentelimab in patients with EoD (EoDyssey) in the third quarter of 2022.
Initiate a Phase 2b randomized, double-blind, placebo-controlled study of subcutaneous lirentelimab in patients with chronic spontaneous urticaria in the middle of 2022.
Complete IND-Enabling studies of AK006 during 2022 and initiate the first-in-human study in the first half of 2023.

Fourth Quarter and Full Year 2021 Financial Results

Research and development expenses were $72.9 million in the fourth quarter of 2021 as compared to $28.5 million in the same period in 2020, an increase of $44.4 million. Research and development expenses were $196.3 million for the full year 2021 as compared to $105.5 million in the same period in 2020, an increase of $90.8 million.

General and administrative expenses were $23.2 million in the fourth quarter of 2021 as compared to $15.8 million in the same period in 2020, an increase of $7.4 million. General and administrative expenses were $75.1 million for the full year 2021 as compared to $51.5 million in the same period in 2020, an increase of $23.6 million.

Allakos reported a net loss of $94.4 million in the fourth quarter of 2021 as compared to $44.3 million in the same period in 2020, an increase of $50.1 million. Net loss per basic and diluted share was $1.73 for the fourth quarter of 2021 compared to $0.86 in the same period in 2020. Net loss was $269.9 million for the full year 2021 as compared to $153.5 million in the same period in 2020, an increase of $116.4 million. Net

 


The following information was filed by Allakos Inc. (ALLK) on Tuesday, March 1, 2022 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Allakos Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Balance Sheets
Balance Sheets (Parenthetical)
Statements Of Cash Flows
Statements Of Operations And Comprehensive Loss
Statements Of Stockholders' Equity
Statements Of Stockholders' Equity (Parenthetical)
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)
Commitments And Contingencies
Commitments And 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)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Reconciliation Of Beginning And Ending Amount Of Unrecognized Benefits (Details)
Income Taxes - Summary Of Effective Tax Rate Differs From Federal Statutory Tax Rate (Details)
Income Taxes - Summary Of Total Deferred Income Tax Assets, Net Of Valuation Allowance (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 (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 And Espp Shares (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Additional Information (Details)
Stockholders' Equity - Summary Of Common Stock Reserved For Future Issuance (Details)
Subsequent Events
Subsequent Events - Additional Information (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)
Ticker: ALLK
CIK: 1564824
Form Type: 10-K Annual Report
Accession Number: 0000950170-22-002542
Submitted to the SEC: Tue Mar 01 2022 4:18:23 PM EST
Accepted by the SEC: Tue Mar 01 2022
Period: Friday, December 31, 2021
Industry: Pharmaceutical Preparations

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