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ALLK - Allakos: Successful Midstage Trial Leads To Too High A Valuation
Allakos Inc.
Allakos (ALLK) recently went up 77% in a single trading day after declaring strong positive results from a phase 2 trial. The stock tripled in a matter of days. Then, it launched what Seeking Alpha refers to as an “upsized offering” of $350 million. Normally, even buoyant stocks take a hit after these. ALLK did not. It didn’t falter, but just kept going.
Last year, around the time of its IPO, somebody said that $40 is too high a price to pay for ALLK because it didn’t have a product and was far