Allakos Announces Pricing of Initial Public Offering

SAN CARLOS, Calif., July 19, 2018 (GLOBE NEWSWIRE) -- Allakos Inc., ALLK, a clinical stage biotechnology company focused on the development of antibodies for the treatment of various eosinophil and mast cell related diseases, today announced the pricing of its initial public offering of 7,133,333 shares of its common stock at a public offering price of $18.00 per share, for total gross proceeds of approximately $128.4 million, before deducting underwriting discounts and commissions and other offering expenses. In addition, Allakos has granted the underwriters a 30-day option to purchase up to 1,069,999 additional shares of common stock at the initial public offering price less underwriting discounts and commissions. The shares are expected to begin trading on the Nasdaq Global Select Market today under the symbol "ALLK." The offering is expected to close on July 23, 2018, subject to the satisfaction of customary closing conditions.

Goldman Sachs & Co. LLC and Jefferies LLC are acting as joint book-running managers for the offering. William Blair & Company, L.L.C. is acting as the lead manager for the offering.

Registration statements relating to the shares being sold in this offering have been filed with the Securities and Exchange Commission and became effective on July 18, 2018. Copies of the registration statements can be accessed through the SEC's website at www.sec.gov. The offering is being made only by means of a prospectus. Copies of the final prospectus may be obtained, when available, from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing prospectusgroup-ny@ny.email.gs.com; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 1-877-547-6340, or by email at Prospectus_Department@jefferies.com; or William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, by telephone at 1-800-621-0687, or by email at prospectus@williamblair.com.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Source: Allakos, Inc.

Investor Contact:
Adam Tomasi, COO, CFO
ir@allakos.com  

Media Contact:
Denise Powell
denise@redhousecomms.com