Allakos Gains 14% After Tanking On Wednesday

Allakos Inc. (ALLK) shares are trading more than 14 percent on Thursday morning trade on a strive to regain from a sharp fall on Wednesday after the company said its Enigma 2 and Kryptos studies failed to achieve statistical significance on the patient reported symptomatic co-primary endpoints. The company CEO Robert Alexander said the company is deeply disappointed that the studies did not achieve their symptomatic endpoints. The shares tanked from more than $80 to $8.55 yesterday.

Currently, shares are trading at $9.73, up 14 percent from the previous close of $8.55 on a volume of 17,010,079. For the 52-week period, the shares have traded in a range of $8.44-$157.98 on average volume of 1,280,122.

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