Allakos (ALLK) Announces $250M Proposed Public Offering of Common Stock

Allakos Inc. (the “Company”) (Nasdaq: ALLK), a biotechnology company developing AK002 for the treatment of eosinophil and mast cell related diseases, today announced it intends to offer and sell, subject to market and other conditions, $250 million of shares of its common stock in an underwritten public offering. In addition, Allakos expects to grant the underwriters a 30-day option to purchase up to $37.5 million of additional shares of the Company’s common stock. All of the shares in the proposed offering will be sold by the Company. The proposed offering is subject to market and other conditions, and there can be no assurances as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering.

Offering Summary

Jefferies, BofA Securities and SVB Leerink are acting as joint book-running managers for the offering.

LifeSci Capital LLC and William Blair are acting as co-managers for the offering.

The Company currently expects to use the net proceeds from the offering for general corporate purposes.

An effective registration statement relating to the securities was filed with the Securities and Exchange Commission (the “SEC”) on August 5, 2019.

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