Allakos $75 million at-the-market offering
Davis Polk advised the underwriter in connection with a new SEC-registered at-the-market offering program by Allakos Inc. under which Allakos may issue and sell shares of its common stock for up to an aggregate amount of $75 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 Julia Molo and Karen Yang. The intellectual property and technology transactions team included partner Frank J. Azzopardi and associate Alison T. Chin. 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.