Why Allakos Stock Was Heating Up Today

Although Allakos reported a net loss of $43 million in the fourth quarter of 2022, investors were more concerned with the progress of the company's clinical pipeline. More specifically, Allakos reaffirmed today that it expects to report trial results from a pair of ongoing mid-stage studies for its lead compound, lirentelimab, in the second half of 2023. The monoclonal antibody is presently in a phase 2 trial as a treatment for atopic dermatitis and a phase 2b trial for chronic spontaneous urticaria (hives).