Thinly traded Allakos (NASDAQ:ALLK) is up 77% premarket on increased volume following its announcement of positive data from a Phase 2 clinical trial, ENIGMA, evaluating lead candidate AK002 in patients with eosinophilic gastritis and/or eosinophilic gastroenteritis.
The study met the primary endpoint, demonstrating a 95% reduction in the number of eosinophils (a type of white blood cell associated with inflammation/infection) in gastrointestinal tissue compared to a 10% increase in the control group (p<0.0001). All secondary endpoints were also met.
On the safety front, the most common treatment-related adverse events were mild-to-moderate infusion-related reactions that occurred in 60% of participants versus 24% for placebo.
AK002 is a monoclonal antibody that selectively targets an eosinophil and mast cell surface receptor called Siglec-8. Inhibiting the receptor dampens the activity of both cell types and mediates inflammation. It is also being developed for urticaria, mastocytosis and allergic conjunctivitis.
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