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Allakos Inc. (ALLK) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Allakos Inc.

CIK: 1564824 Ticker: ALLK

Exhibit 99.1

 

Allakos Reports Fourth Quarter and Full Year 2019 Financial Results and Provides Business Update

REDWOOD CITY, Calif., February 25, 2020

– Allakos Inc. (the “Company”) (Nasdaq: ALLK), a biotechnology company developing antolimab (AK002) for the treatment of eosinophil and mast cell related diseases, today reported financial results for the fourth quarter and full year ended December 31, 2019 and provided an update of its ongoing and planned development activities.

2019 Accomplishments

 

Reported positive results from ENIGMA, a randomized, double-blind, placebo-controlled Phase 2 study using antolimab (AK002) in patients with Eosinophilic Gastritis (EG) and/or Eosinophilic Gastroenteritis (EGE). The study met all prespecified primary and secondary endpoints.

 

Podium presentations of the ENIGMA study results were made at the 2019 United European Gastroenterology Week (Barcelona, Spain; October 2019) by Dr. Joseph Murray, MD and at the 2019 American College of Gastroenterology Annual Scientific Meeting (San Antonio, Texas; October 2019) by Dr. Evan Dellon, MD, MPH.

 

Reported positive topline results with antolimab (AK002) in three open-label studies in patients with Chronic Urticaria (CU), Severe Allergic Conjunctivitis (SAC) and Indolent Systemic Mastocytosis (ISM). In these studies, antolimab (AK002) depleted blood eosinophils and improved patient and physician reported symptoms.

 

Closed an underwritten public offering in August 2019, issuing 5,227,272 shares of common stock at an offering price of $77.00 per share. Aggregated net proceeds received from the offering were approximately $377.5 million, net of underwriting discounts and commissions and offering expenses.

 

Granted orphan drug designation in October 2019 from the United States Food and Drug Administration for the treatment of Eosinophilic Esophagitis (EoE) with antolimab (AK002).

Upcoming 2020 Milestones

 

Initiation of a randomized, double-blind, placebo-controlled Phase 3 study using antolimab (AK002) in patients with EG and/or EGE in the first quarter 2020.

 

Initiation of a randomized, double-blind, placebo-controlled Phase 2/3 study using antolimab (AK002) in patients with EoE in the first quarter 2020.

 

Clinical safety and efficacy results from a six-month, open-label Phase 1 study using antolimab (AK002) in patients with Mast Cell Gastrointestinal Disease (MGID) in the first quarter of 2020.

 

Clinical safety and efficacy results from the open-label, long-term extension component of the ENIGMA study in patients with EG and/or EGE in the first half of 2020.

 

Completion of a Phase 1 study in healthy volunteers evaluating the safety, tolerability and pharmacokinetics of a subcutaneous formulation of antolimab (AK002) in the second half of 2020.


The following information was filed by Allakos Inc. (ALLK) on Tuesday, February 25, 2020 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 this 10-K Annual Report

Document And Entity Information
Balance Sheets
Balance Sheets (Parenthetical)
Statements Of Cash Flows
Statements Of Convertible Preferred Stock And Stockholders' Equity (Deficit)
Statements Of Convertible Preferred Stock And Stockholders' Equity (Deficit) (Parenthetical)
Statements Of Operations And Comprehensive Loss
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 (Tables)
Commitments And Contingencies - Additional Information (Details)
Commitments And Contingencies - Summary Of Classification Of Company's Lease Liabilities (Details)
Commitments And Contingencies - Summary Of Components Of Lease Costs (Details)
Commitments And Contingencies - Summary Of Future Minimum Lease Payments Required Under Operating Leases (Details)
Commitments And Contingencies - Summary Of Future Minimum Lease Payments Required Under Operating Leases (Parenthetical) (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)
Marketable Securities
Marketable Securities (Tables)
Marketable Securities - Additional Information (Details)
Marketable Securities - 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)
Selected Quarterly Financial Data (Unaudited)
Selected Quarterly Financial Data (Unaudited) (Tables)
Selected Quarterly Financial Data (Unaudited) - Summary Of Quarterly Results (Detail)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Details)
Stock-Based Compensation - Summary Of Restricted Common Stock Activity (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 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)
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: 0001564590-20-006408
Submitted to the SEC: Tue Feb 25 2020 4:29:28 PM EST
Accepted by the SEC: Tue Feb 25 2020
Period: Tuesday, December 31, 2019
Industry: Pharmaceutical Preparations

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