Allakos Announces Topline Results from its Phase 1 Trial of AK006 in Patients with Chronic Spontaneous Urticaria and Announces Restructuring
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Allakos announced that its Phase 1 trial of AK006 in patients with Chronic Spontaneous Urticaria did not show therapeutic activity. Consequently, Allakos will discontinue AK006 development, reduce its workforce by 75%, and explore strategic alternatives.
January 27, 2025 | 12:15 pm
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Allakos' AK006 failed to show therapeutic activity in its Phase 1 trial for Chronic Spontaneous Urticaria. The company will discontinue AK006, reduce its workforce by 75%, and explore strategic alternatives.
The failure of AK006 in the Phase 1 trial is a significant setback for Allakos, leading to the discontinuation of the drug's development. The decision to reduce the workforce by 75% indicates a major restructuring, which is likely to negatively impact the stock price in the short term.
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