Mixed Phase III data for Allakos' lirentelimab in eosinophilic duodenitis

California, USA-based biotech Allakos (Nasdaq: ALLK) saw its share drop 12% in pre-market trading on Friday, as it reported mixed data from EoDyssey, a 24-week, Phase III randomized, double-blind, placebo-controlled study of lirentelimab in patients with biopsy confirmed eosinophilic duodenitis (EoD). However, the stock but more than recovered, closing up 5.7% at $4.90.

The trial met its histologic co-primary endpoint, but it did not achieve statistical significance on the patient reported symptomatic co-primary endpoint, in both the intent to treat (ITT) population and in a prespecified subpopulation.

Less than a year ago, Allakos saw its shares slashed more than 90%, when it reported disappointing results from two late-stage studies of the group's sole clinical asset, in rare inflammatory gastrointestinal disorders.