Brief: Allakos Announces A Restructuring To Focus On Development Of Ak006

Allakos

16/01/2024 12:10

Jan 16 (Reuters) - Allakos Inc  ALLK.O :
    * ALLAKOS ANNOUNCES A RESTRUCTURING TO FOCUS ON DEVELOPMENT
OF
AK006
    * ALLAKOS INC - COMPANY'S CASH RUNWAY IS EXPECTED TO EXTEND
INTO
MID-2026
    * ALLAKOS INC - COMPANY WILL REDUCE ITS WORKFORCE BY
APPROXIMATELY
50%
    * ALLAKOS INC - COMPANY WILL HALT LIRENTELIMAB-RELATED
ACTIVITIES
ACROSS CLINICAL, MANUFACTURING, RESEARCH AND ADMINISTRATIVE
FUNCTION
    * ALLAKOS INC - ANTICIPATES THAT SIGNIFICANT MAJORITY OF
RESTRUCTURING EXPENDITURES WILL BE PAID IN FIRST HALF OF 2024

Source text for Eikon:  ID:nGNX8KfwXw 
Further company coverage:  ALLK.O 

 ((Reuters.Briefs@thomsonreuters.com;))