Allakos, which is developing antibodies for allergic, inflammatory and proliferative diseases, announced terms for its IPO on Monday.
The San Carlos, CA-based company plans to raise $96 million by offering 6.0 million shares at a price range of $15 to $17. Insiders intend to purchase $35 million worth of shares in the offering (36% of the deal). In addition, existing shareholder NEA plans to invest $10 million in a concurrent private placement. At the midpoint of the proposed range, Allakos would command a fully diluted market value of $738 million.
Allakos was founded in 2012 and plans to list on the Nasdaq under the symbol ALLK. Goldman Sachs and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of July 16, 2018.
