Allakos Announces Closing of Initial Public Offering
On July 24, 2018, Allakos, a clinical-stage biotechnology company focused on the development of antibodies for the treatment of various eosinophil and mast cell-related diseases, announced the closing of its initial public offering of 8,203,332 shares of its common stock at a public offering price of $18.00 per share, which includes the full exercise of the underwriters' option to purchase up to 1,069,999 additional shares. The company estimates net proceeds from the offering to be approximately $134.4 million, after deducting the underwriting discounts and commissions and estimated offering expenses. The shares began trading on Nasdaq Global Select Market under the symbol "ALLK" on July 19 and closed at $31.23 per share on the first day of trading. Wilson Sonsini Goodrich & Rosati represented Allakos in the offering.
Goldman Sachs & Co. and Jefferies acted as joint book-running managers for the offering, while William Blair & Company acted as the lead manager for the offering.
For more information, please see Allakos' press release.