Allakos is a clinical-stage biotechnology company that developed antibody therapeutics targeting immunomodulatory receptors on immune cells involved in allergic, inflammatory, and proliferative diseases. Its two core drug candidates were lirentelimab (AK002), an anti-Siglec-8 antibody targeting mast cells and eosinophils for conditions including atopic dermatitis and chronic spontaneous urticaria, and AK006, an anti-Siglec-6 antibody also targeting chronic spontaneous urticaria. Both programs have failed — lirentelimab was discontinued in January 2024 after disappointing Phase 2 results, and AK006 was discontinued in January 2025 following a failed Phase 1 trial. Allakos has no approved products, no commercial revenue, and no active clinical programs. The company has no manufacturing infrastructure and relies entirely on external contract manufacturers. Following the AK006 failure, Allakos launched a strategic alternatives review in January 2025, exploring a merger, asset sale, licensing, or other transaction, while simultaneously cutting its workforce by approximately 75% to preserve cash. If no transaction is completed, the board may pursue dissolution and liquidation. Allakos's primary remaining assets are its patent portfolios covering anti-Siglec-6, anti-Siglec-8, anti-Siglec-7, and anti-Siglec-9 antibodies, along with its remaining cash.