Ph II gastro drug results send Allakos into orbit

6 August 2019

Californian biotech Allakos (Nasdaq: ALLK) more than doubled its market value on Monday after presenting results on its lead antibody.

The company announced positive results from its Phase II trial of AK002 in patients with eosinophilic gastritis and/or eosinophilic gastroenteritis, diseases that have no approved therapies that are estimated to affect around 200,000 Americans.

"AK002 reduced eosinophil and mast cell counts and showed a statistically significant improvement in disease symptoms one day after administration"All AK002 dose arms showed clinically-meaningful and statistically-significant benefits compared to placebo on all prespecified primary and secondary endpoints, including gastrointestinal tissue eosinophil counts and patient reported disease symptoms.

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