VC-backed Allakos goes public

San Carlos, California-based Allakos, a developer of antibodies that treat various eosinophil and mast cell related diseases, has raised about $128.4 million for its IPO after pricing its over 7.1 million shares at $18 per share. The stock began trading July 19, 2018 on the NASDAQ under the ticker symbol “ALLK.” Goldman Sachs and Jefferies LLC are the lead underwriters. Allakos’ pre-IPO backers include Novo Ventures, Alta Partners, RiverVest Venture Partners and the Roche Venture Fund.

PRESS RELEASE

SAN CARLOS, Calif., July 19, 2018 (GLOBE NEWSWIRE) — Allakos Inc., (Nasdaq:ALLK), a clinical stage biotechnology company focused on the development of antibodies for the treatment of various eosinophil and mast cell related diseases, today announced the pricing of its initial public offering of 7,133,333 shares of its common stock at a public offering price of $18.00 per share, for total gross proceeds of approximately $128.4 million, before deducting underwriting discounts and commissions and other offering expenses. In addition, Allakos has granted the underwriters a 30-day option to purchase up to 1,069,999 additional shares of common stock at the initial public offering price less underwriting discounts and commissions.

The shares are expected to begin trading on the Nasdaq Global Select Market today under the symbol “ALLK.” The offering is expected to close on July 23, 2018, subject to the satisfaction of customary closing conditions.

Goldman Sachs & Co. LLC and Jefferies LLC are acting as joint book-running managers for the offering. William Blair & Company, L.L.C. is acting as the lead manager for the offering.