Allakos (ALLK) Prices 3.049M Share Common Offering at $82/Sh

Allakos Inc. (NASDAQ: ALLK), a biotechnology company developing AK002 for the treatment of eosinophil and mast cell related diseases, today announced the pricing of its previously announced underwritten public offering. The size of the offering is $250 million of shares of its common stock. The Company is offering 3,048,781 shares at a public offering price of $82.00 per share. The offering is expected to close on November 2, 2020, subject to the satisfaction of customary closing conditions. In connection with the offering, the Company has granted the underwriters a 30-day option to purchase up to 457,317 additional shares of its common stock at the public offering price, less the underwriting discounts and commissions.

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 the co-managers for the offering.

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

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