Davis Polk advised the joint book-running managers and representatives of the underwriters in connection with the follow-on offering of 3,506,098 shares of common stock of Allakos Inc. for total gross proceeds of approximately $272 million. The shares are listed on the Nasdaq Global Select Market under the symbol “ALLK.”

Based in Redwood City, California, Allakos is a clinical stage biotechnology company developing lirentelimab (AK002), their wholly owned monoclonal antibody for the treatment of various mast cell and eosinophil related diseases. 

The Davis Polk corporate team included partner Alan F. Denenberg and associates Kimberly Wang and Alex DeGroat. Partner Frank J. Azzopardi and associate Michael V. Policastro provided intellectual property advice. Partner Mario J. Verdolini and associate Talya Presser provided tax advice. Members of the Davis Polk team are based in the Northern California and New York offices.

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