India, Jan. 27 -- Allakos Inc. (ALLK), Monday announced disappointing topline results from its phase 1 clinical trial, evaluating AK006 in adult patients with moderate-to-severe chronic spontaneous urticarial.
During the trial, the 34 enrolled patients were randomized to receive 720 mg of intravenous AK006 or placebo once every four weeks.
The biotechnology company revealed that AK006 failed to demonstrate therapeutic activity in chronic spontaneous urticarial, forcing it to discontinue AK006-related activities across clinical, manufacturing, research and administrative functions.
Allakos has also planned to reduce its workforce by 75 percent, while retaining around 15 employees to explore strategic alternatives, maintain regulatory as w...