Allakos Reports Positive Phase 1 Clinical Trial Results for AK002
On February 19, Allakos, Inc. (ALLK) announced positive Phase 1 clinical trial results for its drug AK002, which is used to treat eosinophil and mast cell related diseases. The drug is being tested on patients with indolent systemic mastocytosis (ISM), a debilitating disorder caused by the release of inflammatory mediators from mast cells, who had an unsatisfactory response to antihistamine and steroid treatment. AK002 provided clinically meaningful improvements in symptoms and quality of life in this clinical trial.
Sonal detected the event at 8:00 am and sent an alert to subscribers. The stock price opened for regular market trading at $34.77. The stock price rose throughout the event day and continued over the next four trading sessions. Allakos closed at $39.68 on February 25 for a gain of 14.1% over five trading sessions.
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