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All Over For Allakos Skin Disease Drug As Shares Slide

 
• By Kevin Grogan

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.

white arrow on road pointing towards dead-end brick wall
End of the road for lirentelimab • Source: Shutterstock

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%.

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