Allakos' lead candidate shows positive effect in mid-stage hives study

|About: Allakos Inc. (ALLK)|By:, SA News Editor

An open-label Phase 2 clinical trial evaluating Allakos' (NASDAQ:ALLK) lead drug AK002 in 11 patients with chronic spontaneous urticaria (hives) who failed to respond to Roche and Novartis' Xolair (omalizumab) after an average of 10 months' treatment showed a positive effect.

The response rate was 54.5% (n=6/11), including 4 complete responders, at week 22. The average score in a urticaria scale called UCT was 8.5 at study end, an increase of 130% compared to the average score of 3.7 at baseline.

AK002 is a monoclonal antibody that selectively targets an eosinophil and mast cell surface receptor called Siglec-8. Inhibiting the receptor dampens the activity of both cell types and mediates inflammation. It is also being developed for eosinophilic gastritis.

Shares are up a fraction premarket.

Previously: Allakos set for $96M IPO (Jul. 14 2018)

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