JMP Securities downgraded Allakos (ALLK) to Market Perform from Outperform without a price target after the company’s Phase 1 clinical trial of AK006 in chronic spontaneous urticaria did not yield to clinical benefit. Allakos decided to discontinue further clinical development of AK006.
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Read More on ALLK:
- Piper downgrades Allakos to Neutral with only asset discontinued
- Allakos downgraded to Neutral from Overweight at Piper Sandler
- Allakos to discontinue further clinical development of AK006, cut workforce 75%
- Allakos Restructures Amid AK006 Program Discontinuation
- Allakos Restructures Amid AK006 Discontinuation and Layoffs