Davis Polk advised the joint book-running managers and representatives of the underwriters in connection with the follow-on offering of 5,227,272 shares of common stock of Allakos Inc. for total gross proceeds of approximately $402 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 AK002, their wholly owned monoclonal antibody for the treatment of various eosinophil and mast cell related diseases.

The Davis Polk corporate team included partner Alan F. Denenberg and associates Jeffrey C. Lau and Stephanie Y. Cheng. Partner Frank J. Azzopardi and associate Michael V. Policastro provided intellectual property and technology advice. Partner Rachel D. Kleinberg provided tax advice. Members of the Davis Polk team are based in the Northern California and New York offices.

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