Deals
U.S. Biotech Firm Allakos Weighs Potential Sale
- Allakos is working with financial adviser on strategic review
- Company sounding out pharmaceutical and biotechnology suitors
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Allakos Inc., a developer of clinical-stage drugs, is exploring strategic options including a potential sale, according to people familiar with the matter. Its shares rose as high as 46% on the news.
The Redwood City, California-based company is working with a financial adviser on the review, said the people, who asked to not be identified because the matter isn’t public. It is sounding out interest from potential buyers including global pharmaceutical and biotechnology companies, the people said.