Allakos Q1 net loss $71.1M ($0.81/sh); cash burn $31.5M; impairment $27.3M

Allakos Inc.

2024-Q1 EPS reported -$0.81

Net loss $71.1M vs $42.4M YoY; diluted EPS $(0.81) vs $(0.49); non-cash impairment charge $27.3M from lirentelimab halt.
Cash, equivalents, investments $139.3M at March 31; net decrease $31.5M in Q1; runway extended into mid-2026.
Restructuring costs for lirentelimab closeout ~$30M total; $12M paid in Q1, remaining ~$18M expected Q2-Q3 2024.
Completed Phase 1 dosing of AK006 (IV and SC) in healthy volunteers; initiated Phase 1 trial in chronic spontaneous urticaria.
Upcoming milestones: Phase 1 healthy volunteer data Q2/Q3 2024; CSU topline data year-end 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Allakos Inc. updated its the first quarter ended March 31, 2024 guidance (reaffirmed).

Period: the first quarter ended March 31, 2024
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On May 9, 2024, Allakos Inc. (the “Company”) issued a press release reporting its financial results for the first quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0000950170-24-056902

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