Allakos $150 million follow-on offering
Davis Polk advised the representatives of the underwriters in connection with an SEC-registered offering of 29,882,000 shares of common stock of Allakos Inc., for total gross proceeds of approximately $150 million. The common stock is listed on the Nasdaq Global Select Market under the symbol “ALLK.”
Based in San Carlos, California, Allakos is a clinical-stage biotechnology company developing therapeutics that target immunomodulatory receptors present on immune effector cells involved in allergy, inflammatory and proliferative diseases. Their most advanced antibodies are lirentelimab (“AK002”) and AK006.
The Davis Polk corporate team included partner Alan F. Denenberg and associates Jiachen (Lucy) Wang and Karen Yang. The intellectual property and technology transactions team included partner Frank J. Azzopardi and associates Alison T. Chin and Annie Xie. The tax team included partner Mario J. Verdolini and associate Tyler Scheiner. Members of the Davis Polk team are based in the Northern California and New York offices.