Allakos Inc. has finally pulled the plug on its lead drug lirentelimab after it failed to meet the primary endpoints in two mid-stage trials in two skin conditions, sending the California-based biotech's stock down by 60%.
All Over For Allakos Skin Disease Drug As Shares Slide
Following disappointing data for lirentelimab in atopic dermatitis and chronic spontaneous urticaria, the US biotech has discontinued development of the anti-siglec 8 antibody, laid off half of its employees and placed its future hopes on the Phase I compound AK006.
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