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ARTICLE | Financial News

Allakos spikes after pricing upsized IPO above range

July 20, 2018 5:12 PM UTC

Allakos Inc. (NASDAQ:ALLK) gained $13.25 (74%) to $31.25 July 19 after it raised $128.4 million through the sale of 7.1 million shares at $18 in an upsized IPO. Goldman Sachs, Jefferies and William Blair are underwriters.

The deal valued Allakos at $728.4 million, including proceeds from a concurrent private placement. Allakos priced the offering above its proposed range of $15-$17. In July, the company proposed to sell 6 million shares...

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