Allakos Inc. Securities Litigation

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Lawsuit Overview

Defendant:Allakos Inc.
Date Filed:March 10th, 2020
Sector:Health Care
Industry:Major Pharmaceuticals
Class Start Date:August 5th, 2019
Class End Date:December 17th, 2019

According to the Complaint, Allakos Inc. is a clinical stage biopharmaceutical company that focuses on developing therapeutic antibodies targeting allergic, inflammatory, and proliferative diseases. The Company is developing AK002 for the treatment of eosinophilic gastritis and eosinophilic gastroenteritis, urticaria, indolent systemic mastocytosis, and severe allergic conjunctivitis.

The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) The Company's ENIGMA Trial for its flagship drug, AK002, was poorly designed; (2) Allakos cherrypicked timeframes and to engineer results for the ENIGMA trial; (3) Allakos used superficial endpoints in the ENIGMA Trial relative to FDA guidance; (4) Allakos misrepresented the number of adverse incidents that occurred during the ENIGMA Trial; (5) the ENIGMA Trial was not well-controlled; (6) Allakos failed to report key data from the ENIGMA Trial; and (7) as a result, Defendants' statements about Allakos' business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

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First Identified Complaint

Sung Kim, et al. v. Allakos Inc., et al.

Date Filed:March 10th, 2020
Class Period Start:August 5th, 2019
Class Period End:December 17th, 2019
First Identified Complaint Filings
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