Allakos cuts employee count by half after two Phase II failures
16 Jan 2024
Clinical ResultPhase 2Phase 1
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Source: Pharmaceutical Technology
Allakos is halting all lirentelimab-related activities and axing half of its workforce. Credit: Pavel Kapysh via Shutterstock.
US-based biotech Allakos has announced that two Phase II clinical trials for atopic dermatitis and chronic spontaneous urticaria with its lead drug lirentelimab failed to meet their primary endpoints.
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Related Company ProfilesAllakos IncView all
In the Phase II ATLAS trial (NCT05155085) assessing lirentelimab for patients with atopic dermatitis, the primary endpoint – measuring the proportion of patients achieving a 75% reduction from baseline in Eczema Area and Severity Index (EASI-75) – did not achieve statistical significance, with 23% of patients treated with lirentelimab achieving EASI-75 compared to 18% of patients in the placebo group.
The primary endpoint also fell short in the Phase IIb MAVERICK trial (NCT05528861) assessing patients with chronic spontaneous urticaria, with those in the lirentelimab group experiencing a change of -27% in urticaria activity score (UAS7), compared to a change of -26% in the placebo group.
In response to these results, Allakos said it is initiating a workforce reduction of approximately 50% to reduce costs and ensure an extended cash runway. Additionally, the company will now also halt all lirentilimab-related activities.
Allakos’ stock has plunged 59% after announcing the results on 16 January, compared to the price on the previous trading day of 12 January.
While lirentelimab targeted Siglec-8, which is found on mast cells and eosinophils, AK002 is an agonist of Siglec-6, which is exclusively expressed on mature mast cells. Mast cells and eosinophils are types of immune cells, and are studied to understand a drug’s activity. In the ATLAS study, blood eosinophil counts of lirentelimab-treated patients decreased by 96% compared to 15% for those on placebo.
The San Carlos, California-headquartered company plans to launch a Phase I trial for intravenous AK006 in chronic spontaneous urticaria in Q2 2024, anticipating topline data by the end of the year.
In the announcement accompanying the results, chief medical officer of Allakos Craig Paterson said: “We are disappointed that these trials did not meet their primary endpoint, particularly given the need for new treatment options for patients with these severe diseases. Given that neither trial met its primary endpoint, we have decided to not pursue further clinical development of lirentelimab.”
Free ReportHow is the Biopharmaceutical industry evolving?
2021 was a year of continued innovation and change in the Biopharmaceutical industry. As the COVID-19 pandemic continues to take its toll on businesses worldwide, it’s time to look for new ways to create value, prepare for the future, and remain competitive in the ever-changing landscape.
GlobalData’s expansive report examines the business environment and trends that shape the Biopharmaceutical industry. We highlight the most impactful emerging technologies, as well as the industry, regulatory, and macroeconomic factors that influence growth prospects.
Access the report to:
Benchmark the impact of major themes on the Biopharmaceutical industry.
Gain a deeper "on the ground" perspective through exclusive opinions and analysis from industry respondents.
Evaluate the effects of COVID-19 on the sector.
Download the full report to understand what to expect and how to align your strategies for success.
By GlobalData
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Source: Pharmaceutical Technology
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