ALLK Allakos Inc.
Upcoming Catalysts
| Drug | Stage | Catalyst Date |
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Antolimab (subcutaneous)
Healthy Volunteers
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Phase 1
Phase 1
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Antolimab (AK002)
Eosinophilic esophagitis
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Phase 2/3
Phase 2/3
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Antolimab (AK002)
Eosinophilic Gastritis
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Phase 3
Phase 3
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Drug Pipeline
| Drug | Stage | Notes |
|---|---|---|
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AK002
Severe Allergic Conjunctivitis
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Phase 1b
Phase 1b
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Phase 1b presentation at ASCRS May 16, 2020.
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AK002
Chronic Urticaria
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Phase 2
Phase 2
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Phase 2 additional data released February 11, 2019. 9% UAS7 complete responder rate.
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AK002
Indolent Systemic Mastocytosis
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Phase 1
Phase 1
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Phase 1 data released February 19, 2019.
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Latest News
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REDWOOD CITY, Calif., Aug. 10, 2020 (GLOBE NEWSWIRE) -- Allakos Inc. (the "Company") (NASDAQ:ALLK), a biotechnology company developing AK002 for the treatment of eosinophil and mast cell-related diseases, today reported financial results for the second quarter ended June 30, 2020 and provided an update of its ongoing development activities.
Business Updates
- Patient enrollment was initiated in a randomized, double-blind, placebo-controlled Phase 3 study of AK002 in patients with eosinophilic gastritis (EG) and/or eosinophilic duodenitis (EoD). Topline data are expected in the second half of 2021.
- Patient enrollment was initiated in a randomized, double-blind, placebo-controlled Phase 2/3 study of AK002 in patients with eosinophilic esophagitis (EoE). Topline data are expected in the second half of 2021.
- The Phase 1 safety, tolerability and pharmacokinetics study of the subcutaneous formulation of AK002 is fully enrolled. Results are expected in the second half of 2020.
- The non-interventional study examining the prevalence of EG, EoD, and mast cell gastrointestinal disease (MGID) in patients with chronic functional gastrointestinal disease is fully enrolled. Results are expected in the second half of 2020.
- Announced positive clinical safety and efficacy results from a six-month, open-label Phase 1 study of AK002 in patients with MGID in March 2020.
- Announced positive interim safety and efficacy results from the open-label, long-term extension component of the ENIGMA study with AK002 in patients with EG and/or EoD. The results were accepted for oral presentation and presented virtually at the Digestive Disease Week (DDW) Annual Meeting in May 2020.
- The nonproprietary (generic) name of AK002 was changed from antolimab to lirentelimab as a result of trademark issues identified outside of the United States. Lirentelimab has been adopted by the United States Adopted Names (USAN) Council and World Health Organization (WHO) International Nonproprietary Names (INN) Program.
Second Quarter 2020 Financial Results
Research and development expenses were $28.3 million in the second quarter of 2020 as compared to $14.1 million in the same period in 2019, an increase of $14.2 million.
General and administrative expenses were $12.1 million in the second quarter of 2020 as compared to $5.9 million in the same period in 2019, an increase of $6.2 million.
Allakos reported a net loss of $39.3 million in the second quarter of 2020 as compared to $19.1 million in the same period in 2019, an increase of $20.2 million. Net loss per basic and diluted share was $0.80 for the second quarter of 2020 compared to $0.44 in the same period in 2019.
Allakos ended the second quarter of 2020 with $454.9 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 gastritis (EG) and/or eosinophilic duodenitis (EoD) and a Phase 2/3 study in eosinophilic esophagitis (EoE). Lirentelimab targets Siglec-8, an inhibitory receptor selectively expressed on human mast cells and eosinophils. Inappropriately activated eosinophils and mast cells have been identified as key drivers in a number of severe diseases affecting the gastrointestinal tract, eyes, skin, lungs and other organs. Lirentelimab has been tested in multiple clinical studies, in which lirentelimab eliminated blood and tissue eosinophils, inhibited mast cells and improved disease symptoms in patients with eosinophilic gastritis and/or eosinophilic duodenitis, eosinophilic esophagitis, mast cell gastrointestinal disease, severe allergic conjunctivitis, chronic urticaria and indolent systemic mastocytosis. For more information, please visit the Company's website at www.allakos.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, Allakos' progress and business plans. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from current expectations and beliefs, including but not limited to: Allakos' early stages of clinical drug development; Allakos' ability to timely complete clinical trials for, and if approved, commercialize lirentelimab (AK002), its lead compound; Allakos' ability to obtain required regulatory approvals for its product candidates; uncertainties related to the enrollment of patients in its clinical trials; Allakos' ability to demonstrate sufficient safety and efficacy of its product candidates in its clinical trials; uncertainties related to the success of later-stage clinical trials, regardless of the outcomes of preclinical testing and early-stage trials; market acceptance of Allakos' product candidates; uncertainties related to the projections of the size of patient populations suffering from the diseases Allakos is targeting; Allakos' ability to advance additional product candidates beyond lirentelimab (AK002); Allakos' ability to obtain additional capital to finance its operations; and other important risk factors set forth in Allakos' most recent Annual Report on Form 10-K filed with the SEC on February 25, 2020, Quarterly Report on Form 10-Q filed with the SEC on August 10, 2020 and future reports to be filed with the SEC. These documents contain and identify important factors that could cause the actual results for Allakos to differ materially from those contained in Allakos' forward-looking statements. Any forward-looking statements contained in this press release speak only as of the date hereof, and Allakos specifically disclaims any obligation to update any forward-looking statement, except as required by law. These forward-looking statements should not be relied upon as representing Allakos' views as of any date subsequent to the date of this press release.
Source: Allakos Inc.
ALLAKOS INC.
STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(in thousands, except per share data)
(unaudited)Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Operating expenses Research and development $ 28,346 $ 14,111 $ 46,631 $ 29,209 General and administrative 12,058 5,946 23,646 11,775 Total operating expenses 40,404 20,057 70,277 40,984 Loss from operations (40,404 ) (20,057 ) (70,277 ) (40,984 ) Interest income, net 1,284 971 3,273 2,001 Other income (expense), net (172 ) 14 (112 ) (42 ) Net loss (39,292 ) (19,072 ) (67,116 ) (39,025 ) Unrealized gain (loss) on marketable securities, net of tax (1,219 ) 84 650 129 Comprehensive loss $ (40,511 ) $ (18,988 ) $ (66,466 ) $ (38,896 ) Net loss per common share: Basic and diluted $ (0.80 ) $ (0.44 ) $ (1.38 ) $ (0.91 ) Weighted-average number of common shares outstanding: Basic and diluted 48,816 43,115 48,753 42,868 ALLAKOS INC.
CONDENSED BALANCE SHEETS
(in thousands)June 30, December 31, 2020 2019 (unaudited) Assets Current assets: Cash and cash equivalents $ 153,898 $ 38,367 Investments in marketable securities 301,048 457,534 Prepaid expenses and other current assets 3,336 3,969 Total current assets 458,282 499,870 Property and equipment, net 7,703 8,410 Operating lease right-of-use assets 5,633 5,775 Other long-term assets 2,839 2,839 Total assets $ 474,457 $ 516,894 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 9,617 $ 5,963 Accrued expenses and other current liabilities 9,962 7,098 Total current liabilities 19,579 13,061 Other long-term liabilities 7,875 8,112 Total liabilities 27,454 21,173 Stockholders' equity: Common stock 49 48 Additional paid-in capital 702,767 685,020 Accumulated other comprehensive gain 787 137 Accumulated deficit (256,600 ) (189,484 ) Total stockholders' equity 447,003 495,721 Total liabilities and stockholders' equity $ 474,457 $ 516,894 Investor Contact: Adam Tomasi, President and COO [email protected] Media Contact: Denise Powell [email protected]
- Patient enrollment was initiated in a randomized, double-blind, placebo-controlled Phase 3 study of AK002 in patients with eosinophilic gastritis (EG) and/or eosinophilic duodenitis (EoD). Topline data are expected in the second half of 2021.
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-- Phase 3 study in eosinophilic gastritis and/or eosinophilic duodenitis and Phase 2/3 study in eosinophilic esophagitis --
-- Top-line safety and efficacy results from both studies expected in the second half of 2021 --
REDWOOD CITY, Calif., June 03, 2020 (GLOBE NEWSWIRE) -- Allakos Inc. (NASDAQ:ALLK), a biotechnology company developing antolimab (AK002) for the treatment of eosinophil and mast cell related diseases, today announced that it is recruiting patients for two previously announced registrational clinical studies of AK002; a Phase 3 study in eosinophilic gastritis (EG) and/or eosinophilic duodenitis (EoD) and a Phase 2/3 study in eosinophilic esophagitis (EoE). Top-line safety and efficacy results from both studies are expected in the second half of 2021. The Phase 3 EG and/or EoD study and the Phase 2/3 EoE study follow positive results from ENIGMA, the Company's multicenter, randomized, double-blind, placebo-controlled Phase 2 study in patients with EG and/or EoD.
Phase 3 Eosinophilic Gastritis (EG) and/or Eosinophilic Duodenitis (EoD) Study Design
The multicenter, randomized, double-blind, placebo-controlled Phase 3 study will enroll approximately 160 patients with active, biopsy-confirmed EG (eosinophil count of ≥30 eosinophils in 5 high powered fields [hpfs] in the stomach) and/or EoD (eosinophil count of ≥30 eosinophils in 3 hpfs in duodenum). Patients will be randomized 1:1 to receive: (a) 1.0 mg/kg of antolimab for the first month followed by five doses of 3.0 mg/kg given monthly, or (b) monthly placebo. The co-primary endpoints of the study are: 1) the proportion of patients achieving ≤ 4 eosinophils in 5 hpfs in the stomach and/or ≤15 eosinophils in 3 hpfs in the duodenum and 2) absolute change in Total Symptom Score (TSS-6: abdominal pain, nausea, bloating, early satiety, abdominal cramping, loss of appetite) measured using the daily patient reported symptom questionnaire used in ENIGMA. The TSS-6 comprises the six most frequent and severe symptoms reported in ENIGMA.Phase 2/3 Eosinophilic Esophagitis (EoE) Study Design
The multicenter, randomized, double-blind, placebo-controlled Phase 2/3 study will enroll approximately 300 patients with active, biopsy-confirmed EoE (eosinophil count of ≥15 eosinophils in a single hpf). Patients will be randomized 1:1:1 to receive: (a) six antolimab doses of 1.0 mg/kg given monthly, (b) 1.0 mg/kg of antolimab for the first month followed by five doses of 3.0 mg/kg given monthly, or (c) monthly placebo. The co-primary endpoints of the study are: (1) the proportion of patients achieving ≤6 eosinophils in a single hpf and (2) absolute change in dysphagia symptoms measured using a daily patient reported symptom questionnaire known as the Dysphagia Symptom Questionnaire (DSQ).About Eosinophilic Gastritis, Eosinophilic Duodenitis, and Eosinophilic Esophagitis
Eosinophilic gastritis, eosinophilic duodenitis (previously referred to as eosinophilic gastroenteritis), and eosinophilic esophagitis are severe inflammatory orphan diseases characterized by the presence of high levels of eosinophils in the stomach, duodenum, or esophagus, respectively. Common symptoms of the diseases include severe abdominal pain, nausea, diarrhea, bloating, cramping, early satiety, loss of appetite, vomiting, dysphagia, and weight loss. The current estimated prevalence of eosinophilic gastritis and eosinophilic duodenitis in the United States is approximately 50,000 people. The estimated prevalence of eosinophilic esophagitis in the United States is approximately 150,000 people. The Company believes that these diseases may be significantly under-diagnosed, or misdiagnosed, as other gastrointestinal diseases. There are no treatments approved specifically for these diseases. Treatment with systemic steroids can provide symptomatic improvement, but long-term treatment with steroids is generally not possible due to the numerous side effects. Allakos has received orphan drug designation for antolimab in eosinophilic gastritis, eosinophilic gastroenteritis, and eosinophilic esophagitis.About Allakos
Allakos is a late-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, antolimab (AK002), is being evaluated in a Phase 3 study in eosinophilic gastritis (EG) and/or eosinophilic duodenitis (EoD) and a Phase 2/3 study in eosinophilic esophagitis (EoE). Antolimab targets Siglec-8, an inhibitory receptor selectively expressed on human mast cells and eosinophils. Inappropriately activated eosinophils and mast cells have been identified as key drivers in a number of severe diseases affecting the gastrointestinal tract, eyes, skin, lungs and other organs. Antolimab has been tested in multiple clinical studies, in which antolimab eliminated blood and tissue eosinophils, inhibited mast cells and improved disease symptoms in patients with eosinophilic gastritis and/or eosinophilic duodenitis, eosinophilic esophagitis, mast cell gastrointestinal disease, severe allergic conjunctivitis, chronic urticaria and indolent systemic mastocytosis. For more information, please visit the Company's website at www.allakos.com.Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, Allakos' progress and business plans. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from current expectations and beliefs, including but not limited to: Allakos' stages of clinical drug development; Allakos' ability to timely complete clinical trials for, and if approved, commercialize antolimab (AK002), its lead compound; Allakos' ability to obtain required regulatory approvals for its product candidates; uncertainties related to the enrollment of patients in its clinical trials; Allakos' ability to demonstrate sufficient safety and efficacy of its product candidates in its clinical trials; uncertainties related to the success of later-stage clinical trials, regardless of the outcomes of preclinical testing and early-stage trials; market acceptance of Allakos' product candidates; uncertainties related to the projections of the size of patient populations suffering from the diseases Allakos is targeting; Allakos' ability to advance additional product candidates beyond antolimab (AK002); Allakos' ability to obtain additional capital to finance its operations; and other important risk factors set forth in Allakos' most recent Annual Report on Form 10-K filed with the SEC on February 25, 2020, Quarterly Report on Form 10-Q filed with the SEC on May 11, 2020 and future reports to be filed with the SEC. These documents contain and identify important factors that could cause the actual results for Allakos to differ materially from those contained in Allakos' forward-looking statements. Any forward-looking statements contained in this press release speak only as of the date hereof, and Allakos specifically disclaims any obligation to update any forward-looking statement, except as required by law. These forward-looking statements should not be relied upon as representing Allakos' views as of any date subsequent to the date of this press release.Source: Allakos Inc.
Investor Contact: Adam Tomasi, President and COO [email protected] Media Contact: Denise Powell [email protected]
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REDWOOD CITY, Calif., May 21, 2020 (GLOBE NEWSWIRE) -- Allakos Inc. (the "Company") (NASDAQ:ALLK), a biotechnology company developing antolimab (AK002) for the treatment of eosinophil and mast cell related diseases, today announced the acceptance of two oral abstract presentations at the upcoming European Academy of Allergy & Clinical Immunology (EAACI) Annual Congress being held virtually from June 6 to 8, 2020.
The following virtual oral abstract presentations will be available starting on June 6, 2020.
Title (Presenter): A Siglec-8 Antibody Reduces Substance P-induced Inflammation by Inhibiting MRGPR-mediated Mast Cell Activation (Simon Gebremeskel, PhD) Session: Biologicals and DARPins: New Mechanistic Insights and Novel Applications, OAS 23 Title (Presenter): Treatment of Severe Allergic Conjunctivitis with Antolimab Indicated Improvement of Ocular Signs and Symptoms and Reduction of Severity of Comorbid Atopic Diseases in a Phase 1b Open-Label Study (Andrea Leonardi, MD) Session: Diagnosis and Management of Ocular Allergy and Allergic Rhinitis, OAS 18 Following the presentations, the slides will be available on the Allakos website.
About Allakos
Allakos is a late-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, antolimab (AK002), is being evaluated in a Phase 3 study in eosinophilic gastritis (EG) and/or eosinophilic duodenitis (EoD) and a Phase 2/3 study in eosinophilic esophagitis (EoE). Antolimab targets Siglec-8, an inhibitory receptor selectively expressed on human mast cells and eosinophils. Inappropriately activated eosinophils and mast cells have been identified as key drivers in a number of severe diseases affecting the gastrointestinal tract, eyes, skin, lungs and other organs. Antolimab has been tested in multiple clinical studies, in which antolimab eliminated blood and tissue eosinophils, inhibited mast cells and improved disease symptoms in patients with eosinophilic gastritis and/or eosinophilic duodenitis, eosinophilic esophagitis, mast cell gastrointestinal disease, severe allergic conjunctivitis, chronic urticaria and indolent systemic mastocytosis. For more information, please visit the Company's website at www.allakos.com.
Source: Allakos Inc.
Investor Contact: Adam Tomasi, President & COO [email protected] Media Contact: Denise Powell [email protected]
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REDWOOD CITY, Calif., May 11, 2020 (GLOBE NEWSWIRE) -- Allakos Inc. (the "Company") (NASDAQ:ALLK), a biotechnology company developing antolimab (AK002) for the treatment of eosinophil and mast cell related diseases, today announced the acceptance of an oral presentation at the upcoming American Society of Cataract and Refractive Surgery (ASCRS) Virtual Annual Meeting.
The virtual presentation will take place on May 16, 2020 at 6:00pm ET. The abstract is currently available on the ASCRS website where the virtual presentation will be available as well.
Title (Presenter): Phase 1b Study of an Anti-Siglec-8 Monoclonal Antibody, Antolimab (AK002), in
Severe Allergic Conjunctivitis (Dr. Stephen Anesi, MD)Session (Location): Corneal Disease (VM - 1, Virtual Room 4) The Phase 1b clinical trial evaluated antolimab in patients with three forms of severe allergic conjunctivitis refractory to topical treatments; atopic keratoconjunctivitis, vernal keratoconjunctivitis and perennial allergic conjunctivitis. Following the presentation, the slides will be available on the Allakos website.
About Allakos
Allakos is a late-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, antolimab (AK002), is being evaluated in a Phase 3 study in eosinophilic gastritis (EG) and/or eosinophilic duodenitis (EoD) and a Phase 2/3 study in eosinophilic esophagitis (EoE). Antolimab targets Siglec-8, an inhibitory receptor selectively expressed on human mast cells and eosinophils. Inappropriately activated eosinophils and mast cells have been identified as key drivers in a number of severe diseases affecting the gastrointestinal tract, eyes, skin, lungs and other organs. Antolimab has been tested in multiple clinical studies, in which antolimab eliminated blood and tissue eosinophils, inhibited mast cells and improved disease symptoms in patients with eosinophilic gastritis and/or eosinophilic duodenitis, eosinophilic esophagitis, mast cell gastrointestinal disease, severe allergic conjunctivitis, chronic urticaria and indolent systemic mastocytosis. For more information, please visit the Company's website at www.allakos.com.
Source: Allakos Inc.
Investor Contact: Adam Tomasi, President & COO [email protected] Media Contact: Denise Powell [email protected]
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REDWOOD CITY, Calif., May 11, 2020 (GLOBE NEWSWIRE) -- 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 first quarter ended March 31, 2020.
First Quarter 2020 Financial Results
Research and development expenses were $18.3 million in the first quarter of 2020 as compared to $15.1 million in the same period in 2019, an increase of $3.2 million.
General and administrative expenses were $11.6 million in the first quarter of 2020 as compared to $5.8 million in the same period in 2019, an increase of $5.8 million.
Allakos reported a net loss of $27.8 million in the first quarter of 2020 as compared to $20.0 million in the same period in 2019, an increase of $7.8 million. Net loss per basic and diluted share was $0.57 for the first quarter of 2020 compared to $0.47 in the same period in 2019.
Allakos ended the first quarter of 2020 with $479.8 million in cash, cash equivalents and marketable securities.
About Allakos
Allakos is a late-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, antolimab (AK002), is being evaluated in a Phase 3 study in eosinophilic gastritis (EG) and/or eosinophilic duodenitis (EoD) and a Phase 2/3 study in eosinophilic esophagitis (EoE). Antolimab targets Siglec-8, an inhibitory receptor selectively expressed on human mast cells and eosinophils. Inappropriately activated eosinophils and mast cells have been identified as key drivers in a number of severe diseases affecting the gastrointestinal tract, eyes, skin, lungs and other organs. Antolimab has been tested in multiple clinical studies, in which antolimab eliminated blood and tissue eosinophils, inhibited mast cells and improved disease symptoms in patients with eosinophilic gastritis and/or eosinophilic duodenitis, eosinophilic esophagitis, mast cell gastrointestinal disease, severe allergic conjunctivitis, chronic urticaria and indolent systemic mastocytosis. For more information, please visit the Company's website at www.allakos.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, Allakos' progress and business plans. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from current expectations and beliefs, including but not limited to: Allakos' early stages of clinical drug development; Allakos' ability to timely complete clinical trials for, and if approved, commercialize antolimab (AK002), its lead compound; Allakos' ability to obtain required regulatory approvals for its product candidates; uncertainties related to the enrollment of patients in its clinical trials; Allakos' ability to demonstrate sufficient safety and efficacy of its product candidates in its clinical trials; uncertainties related to the success of later-stage clinical trials, regardless of the outcomes of preclinical testing and early-stage trials; market acceptance of Allakos' product candidates; uncertainties related to the projections of the size of patient populations suffering from the diseases Allakos is targeting; Allakos' ability to advance additional product candidates beyond antolimab (AK002); Allakos' ability to obtain additional capital to finance its operations; and other important risk factors set forth in Allakos' most recent Annual Report on Form 10-K filed with the SEC on February 25, 2020, Quarterly Report on Form 10-Q filed with the SEC on May 11, 2020 and future reports to be filed with the SEC. These documents contain and identify important factors that could cause the actual results for Allakos to differ materially from those contained in Allakos' forward-looking statements. Any forward-looking statements contained in this press release speak only as of the date hereof, and Allakos specifically disclaims any obligation to update any forward-looking statement, except as required by law. These forward-looking statements should not be relied upon as representing Allakos' views as of any date subsequent to the date of this press release.
Source: Allakos Inc.
ALLAKOS INC.
STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(in thousands, except per share data)
(unaudited)Three Months Ended March 31, 2020 2019 Operating expenses Research and development $ 18,285 $ 15,098 General and administrative 11,588 5,829 Total operating expenses 29,873 20,927 Loss from operations (29,873 ) (20,927 ) Interest income, net 1,989 1,030 Other income (expense), net 60 (56 ) Net loss (27,824 ) (19,953 ) Unrealized gain on marketable
securities, net of tax1,869 45 Comprehensive loss $ (25,955 ) $ (19,908 ) Net loss per common share: Basic and diluted $ (0.57 ) $ (0.47 ) Weighted-average number of common
shares outstanding:Basic and diluted 48,691 42,620 ALLAKOS INC.
CONDENSED BALANCE SHEETS
(in thousands)March 31, December 31, 2020 2019 (unaudited) Assets Current assets: Cash and cash equivalents $ 135,942 $ 38,367 Investments in marketable securities 343,863 457,534 Prepaid expenses and other current assets 3,953 3,969 Total current assets 483,758 499,870 Property and equipment, net 8,072 8,410 Operating lease right-of-use assets 5,705 5,775 Other long-term assets 2,839 2,839 Total assets $ 500,374 $ 516,894 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 9,062 $ 5,963 Accrued expenses and other current liabilities 5,273 7,098 Total current liabilities 14,335 13,061 Other long-term liabilities 7,995 8,112 Total liabilities 22,330 21,173 Stockholders' equity: Common stock 48 48 Additional paid-in capital 693,298 685,020 Accumulated other comprehensive gain 2,006 137 Accumulated deficit (217,308 ) (189,484 ) Total stockholders' equity 478,044 495,721 Total liabilities and stockholders' equity $ 500,374 $ 516,894 Investor Contact: Adam Tomasi, President and COO [email protected] Media Contact: Denise Powell [email protected]