Davis Polk advised the underwriters in connection with an initial public offering of 8,203,332 shares of common stock of Allakos Inc. at $18.00 per share (which includes the exercise in full by the underwriters of their option to purchase up to 1,069,999 additional shares), for total gross proceeds of $147.7 million. The common stock is listed on the NASDAQ Global Select Market under the symbol “ALLK.”

Headquartered in San Carlos, California, Allakos is a clinical stage company developing therapeutic antibodies that selectively target immunomodulatory receptors present on the surface of immune effector cells involved in allergic, inflammatory and proliferative diseases.

The Davis Polk corporate team included partner Alan F. Denenberg and associates Jeffrey C. Lau and Laurel Mills. Counsel Michelle Ontiveros Gross and associate Jason J. Bang provided intellectual property and technology advice. The tax team included partner Rachel D. Kleinberg. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the Northern California and New York offices.

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