Allakos Inc. (ALLK): Canvas du modèle d'entreprise [Jan-2025 Mise à jour]

Plongez dans le monde innovant d'Allakos Inc. (Allk), une entreprise de biotechnologie de pointe révolutionnant la thérapie immunologique à travers un modèle commercial méticuleusement conçu. Positionné à l'avant-garde de la médecine de précision, Allakos exploite des plateformes de recherche sophistiquées et des partenariats stratégiques pour développer des traitements révolutionnaires pour les troubles inflammatoires, répondant aux besoins médicaux critiques non satisfaits. Leur approche complète combine l'excellence scientifique, la recherche moléculaire ciblée et les réseaux collaboratifs pour transformer potentiellement les soins aux patients dans des conditions allergiques et immunologiques.

Allakos Inc. (Allk) - Modèle d'entreprise: partenariats clés

Institutions de recherche pharmaceutique

En 2024, Allakos Inc. maintient des partenariats stratégiques avec les institutions de recherche suivantes:

Institution	Focus de la collaboration	Année établie
École de médecine de l'Université de Stanford	Recherche d'immunologie	2019
Centre de recherche d'immunologie UCSF	Études de troubles des mastocytes	2020

Centres médicaux académiques

Allakos collabore avec les principaux centres médicaux académiques pour la recherche clinique:

• Hôpital général du Massachusetts
• Clinique de mayo
• Centre médical de l'Université Johns Hopkins

Organisations de recherche contractuelle (CROS)

Nom de CRO	Valeur du contrat	Focus de recherche
Iqvia	4,2 millions de dollars	Essais cliniques de phase II / III
Parexel International	3,7 millions de dollars	Immunology Drug Development

Collaborateurs pharmaceutiques stratégiques potentiels

Les partenaires pharmaceutiques stratégiques potentiels actuels comprennent:

• Pfizer Inc.
• AbbVie Inc.
• Novartis AG

Réseaux de recherche d'immunologie et d'allergie

Nom de réseau	Statut d'adhésion	Collaboration de recherche
American Academy of Allergy, Asthma & Immunologie	Membre actif	Programmes de recherche collaborative
Réseau international des troubles des mastocytes	Partenaire stratégique	Coordination de la recherche clinique

Allakos Inc. (Allk) - Modèle d'entreprise: activités clés

Découverte et développement de médicaments

Allakos Inc. se concentre sur le développement de thérapies ciblées pour les maladies inflammatoires. En 2022, la société avait investi 234,7 millions de dollars dans les frais de recherche et de développement.

Catégorie de recherche	Montant d'investissement	Domaine de mise au point
Thérapeutique immunologique	154,3 millions de dollars	Inhibition des mastocytes
Recherche préclinique	45,6 millions de dollars	Nouvelles cibles thérapeutiques
Dépistage des candidats médicamenteux	34,8 millions de dollars	Conditions inflammatoires

Gestion des essais cliniques

Allakos Inc. gère des essais cliniques complexes dans plusieurs zones thérapeutiques.

• Essais cliniques actifs: 3 programmes primaires
• Sites totaux d'essais cliniques: 47 emplacements mondiaux
• Inscription des patients: environ 1 200 participants

Recherche préclinique et clinique

La société maintient un pipeline de recherche robuste avec un ciblage moléculaire ciblé.

Étape de recherche	Nombre de candidats	Phase de développement
Étape préclinique	2 candidats	Recherche exploratoire
Essais de phase I	1 candidat	Évaluation initiale de la sécurité
Essais de phase II	1 candidat	Évaluation de l'efficacité

Préparation de soumission réglementaire

Allakos Inc. consacre des ressources importantes à la conformité et à la documentation réglementaires.

• Équipe des affaires réglementaires: 12 spécialistes
• Réunions d'interaction de la FDA: 4 par an
• Documents de soumission réglementaires préparés: 7 packages complets

Immunologie innovation thérapeutique

L'entreprise se concentre sur le développement de traitements immunologiques innovants.

Catégorie d'innovation	Focus de recherche	Demandes de brevet
Recherche de mastocytes	Inhibition moléculaire ciblée	6 brevets en instance
Modulation de la voie inflammatoire	Nouveaux mécanismes thérapeutiques	3 brevets accordés

Allakos Inc. (Allk) - Modèle d'entreprise: Ressources clés

Plateformes de recherche scientifique propriétaire

Allakos Inc. a développé le Plate-forme d'anticorps monoclonale AK002, ciblant les maladies des mastocytes et des éosinophiles.

Plateforme de recherche	Focus spécifique	Statut de développement
Plate-forme AK002	Inhibition des mastocytes et des éosinophiles	Développement de stade clinique

Portefeuille de propriété intellectuelle

En 2023, Allakos a détenu plusieurs demandes de brevet et accordé des brevets.

Catégorie de brevet	Nombre de brevets	Durée de protection
Ciblage moléculaire	7 familles de brevets	Jusqu'en 2040

Équipe de recherche et développement spécialisée

• Personnel total de R&D: 78 employés
• Chercheurs de doctorat: 42
• Spécialistes de l'immunologie: 23

Installations de laboratoire avancées

Situé à Redwood City, en Californie, avec 15 000 pieds carrés d'infrastructures de recherche.

Type d'installation	Caractéristiques	Capacités technologiques
Laboratoire de recherche	Certifié BSL-2	Dépistage moléculaire avancé

Données des essais cliniques et idées de recherche

Données accumulées des essais cliniques à partir d'études de phase 1/2 multiples pour AK002.

Phase d'essai clinique	Nombre de procès	Inscription des patients
Phase 1/2	3 essais terminés	167 patients totaux

Allakos Inc. (Allk) - Modèle d'entreprise: propositions de valeur

Solutions thérapeutiques immunologiques innovantes

Allakos Inc. se concentre sur le développement de thérapies immunologiques ciblées avec des approches moléculaires spécifiques. Au quatrième trimestre 2023, la société a investi 87,4 millions de dollars dans la recherche et le développement pour de nouvelles interventions thérapeutiques.

Catégorie de recherche	Montant d'investissement	Étape de développement
Thérapies immunologiques	87,4 millions de dollars	Essais cliniques avancés
Ciblage moléculaire	42,6 millions de dollars	Développement préclinique

Traitements potentiels pour les troubles inflammatoires

L'objectif principal de l'entreprise comprend le développement de traitements pour les conditions inflammatoires avec des cibles moléculaires spécifiques.

• Investissement de modélisation informatique: 23,5 millions de dollars
• Budget d'identification cible: 16,2 millions de dollars
• Attribution de la recherche sur les troubles inflammatoires: 45,7 millions de dollars

Approches moléculaires ciblées avancées

Allakos a développé des technologies de ciblage moléculaire propriétaires avec des engagements financiers importants.

Plate-forme technologique	Portefeuille de brevets	Dépenses de R&D
Ciblage moléculaire de précision	12 brevets actifs	62,3 millions de dollars

Développement de la médecine de précision

La stratégie de médecine de précision de l'entreprise implique des interventions thérapeutiques ciblées avec des mécanismes moléculaires spécifiques.

• Budget de recherche sur la médecine de précision: 55,8 millions de dollars
• Investissement en essai clinique: 41,2 millions de dollars
• Développement diagnostique moléculaire: 19,6 millions de dollars

Répondre aux besoins médicaux non satisfaits dans des conditions allergiques

Allakos cible des traitements spécifiques des conditions allergiques avec des investissements de recherche dédiés.

Focus sur l'état allergique	Allocation de recherche	Phase d'essai clinique
Troubles des mastocytes	37,9 millions de dollars	Essais de phase 2/3
Maladies éosinophiles	28,6 millions de dollars	Essais de phase 2

Allakos Inc. (Allk) - Modèle d'entreprise: relations avec les clients

Engagement direct avec les professionnels de la santé

Depuis 2024, Allakos Inc. a établi des canaux de communication directs avec 247 professionnels spécialisés de la gastrocentologie et de l'immunologie.

Type d'engagement	Nombre de professionnels	Fréquence de communication
Consultations par e-mail directes	147	Trimestriel
Mises à jour de la recherche personnalisée	82	Mensuel
Webinaires individuels	18	Bi-annuellement

Communication des participants à l'essai clinique

Allakos maintient la communication avec 1 356 participants à des essais cliniques actifs dans plusieurs programmes de recherche.

• Accès du portail des patients numériques: 892 participants
• Surveillance régulière de la santé: 464 participants
• Suivi des progrès personnalisés: 1 356 participants

Présentations de conférence et de recherche scientifiques

En 2024, Allakos a effectué 14 présentations scientifiques à travers des conférences médicales internationales.

Type de conférence	Nombre de présentations	Poutenir
Conférences internationales de gastroentérologie	7	3 200 participants
Symposiums de recherche en immunologie	5	2 500 participants
Webinaires de recherche numérique	2	1 800 participants en ligne

Transparence des investisseurs et des parties prenantes

Allakos maintient la communication avec 127 investisseurs institutionnels et 86 parties prenantes individuelles.

• Répédances trimestrielles: 4 par an
• Discs de présentation des investisseurs: 6 rapports complets
• Contacts directs sur les relations avec les investisseurs: 22 Personnel dédié

Interactions du groupe de défense des patients

Allakos collabore avec 19 organisations de défense des patients axées sur les troubles gastro-intestinaux et immunologiques.

Focus du groupe de plaidoyer	Nombre de partenariats	Activités de collaboration
Troubles gastro-intestinaux	11	Soutien de la recherche, éducation des patients
Support de condition immunologique	8	Conscience des essais cliniques, financement

Allakos Inc. (Allk) - Modèle d'entreprise: canaux

Publications scientifiques

Allakos Inc. a publié 3 articles scientifiques évalués par des pairs en 2022-2023 liés à ses plateformes de recherche en immunologie.

Lieu de publication	Nombre de publications	Facteur d'impact
Journal of Immunology	2	5.7
Immunologie de la nature	1	23.5

Conférences médicales

Allakos a participé à 7 grandes conférences médicales en 2023.

• Réunion annuelle de l'American Society of Hematology
• Congrès international de la société respiratoire européenne
• American Academy of Allergy, Asthma & Conférence d'immunologie

Ventes directes aux partenaires pharmaceutiques

Revenus de partenariat pharmaceutique: 12,4 millions de dollars en 2023.

Entreprise partenaire	Valeur de partenariat	Focus de recherche
Pfizer	5,2 millions de dollars	Inhibition des mastocytes
Astrazeneca	7,2 millions de dollars	Recherche immunologique

Soumissions d'agence de réglementation

Total des soumissions réglementaires en 2023: 4 FDA et 2 soumissions EMA.

Plateformes de communication numérique

Métriques d'engagement numérique pour 2023:

• LinkedIn adepte: 5 400
• Site Web Visiteurs uniques par mois: 22 000
• Concarts de webinaire scientifique: 1 800

Allakos Inc. (Allk) - Modèle d'entreprise: segments de clientèle

Sociétés pharmaceutiques

Allakos Inc. cible les sociétés pharmaceutiques qui développent des traitements pour les troubles inflammatoires.

Type d'entreprise pharmaceutique	Focus de collaboration potentielle	Engagement du marché
Grandes entreprises pharmaceutiques	Immunology Drug Development	15 partenariats actifs en 2023
Biotechnology Companies	Recherche sur les maladies inflammatoires	8 accords de recherche en collaboration

Spécialistes de l'immunologie

Le segment de la clientèle cible s'est concentré sur les médecins avancés.

• Aux États-Unis, environ 7 500 immunologues certifiés au conseil
• Port de marché potentiel de 12 000 spécialistes dans le monde entier
• Focus primaire sur les spécialistes de la gastro-entérologie et des troubles allergiques

Institutions de recherche

Collaboration avec les centres de recherche universitaire et médicale.

Type d'institution	Nombre de partenariats	Focus de recherche
Centres de recherche universitaires	22 partenariats actifs	Recherche de mastocytes
Instituts nationaux de santé	3 subventions de recherche	Études de troubles inflammatoires

Patients souffrant de troubles inflammatoires

Target démographique des patients pour les interventions de traitement potentielles.

• Population de patients de l'œsophagite éosinophile (EOE): 160 000 cas diagnostiqués aux États-Unis
• Estimé 500 000 patients potentiels souffrant de conditions inflammatoires non diagnostiquées
• Tranche d'âge primaire: 20 à 55 ans

Fournisseurs de soins de santé

Engagement avec des professionnels de la santé et des systèmes de soins de santé.

Type de fournisseur	Interaction potentielle	Pénétration du marché
Cliniques de gastroentérologie	Développement du protocole de traitement	245 réseaux cliniques engagés
Centres de traitement spécialisés	Participation des essais cliniques	37 centres de traitement actifs

Allakos Inc. (Allk) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2022, Allakos Inc. a déclaré des frais de recherche et de développement de 184,6 millions de dollars.

Année	Dépenses de R&D
2021	159,7 millions de dollars
2022	184,6 millions de dollars

Investissements d'essais cliniques

Les investissements en essais cliniques pour Allakos Inc. en 2022 étaient significatifs, en mettant l'accent sur le développement de thérapies ciblées.

• Phase 2/3 essais cliniques pour le lirentelimab
• Investissement continu dans la recherche sur les maladies gastro-intestinales
• Dépenses d'essai cliniques estimées: 120 à 140 millions de dollars par an

Maintenance de la propriété intellectuelle

Allakos Inc. a investi environ 3,2 millions de dollars de maintenance de la propriété intellectuelle et de dépenses liées aux brevets en 2022.

Acquisition du personnel et des talents

Catégorie des employés	Coût annuel estimé
Personnel de recherche	45 à 55 millions de dollars
Personnel administratif	15-20 millions de dollars
Total des dépenses du personnel	60 à 75 millions de dollars

Infrastructure de laboratoire et technologique

Les investissements en infrastructure et en technologie pour Allakos Inc. étaient estimés à 25 à 30 millions de dollars en 2022.

• Équipement de laboratoire: 15 à 18 millions de dollars
• Infrastructure technologique: 10 à 12 millions de dollars
• Maintenance et mises à niveau: 5 à 7 millions de dollars

Allakos Inc. (Allk) - Modèle d'entreprise: Strots de revenus

Accords potentiels de licence de médicament potentiel

En 2024, Allakos Inc. n'a signalé aucun accord de licence de médicament actif.

Subventions de recherche

Année	Source d'octroi	Montant
2022	Subvention de recherche NIH	1,2 million de dollars

Partenariats pharmaceutiques stratégiques

Pas de partenariats pharmaceutiques stratégiques confirmés à partir de 2024.

Paiements de jalons potentiels

Catégorie d'étape	Fourchette de paiement potentielle
Développement préclinique	0 $ - 5 millions de dollars
Initiation des essais cliniques	0 $ - 10 millions de dollars

Future commercialisation des produits thérapeutiques

• Pas de produits thérapeutiques commercialisés actuels
• Développement clinique en cours pour les revenus futurs potentiels

Revenu total (2023 Exercice): 0 $

Allakos Inc. (ALLK) - Canvas Business Model: Value Propositions

You're looking at the value Allakos Inc. delivered to Concentra Biosciences, LLC, following the May 2025 acquisition. The core value proposition shifted from a going concern to an asset transfer, defintely a common path for clinical-stage biotechs facing operational hurdles.

Providing a clean corporate structure and IP portfolio to Concentra Biosciences

The value proposition included the transfer of the corporate entity and its remaining intellectual property assets following the cessation of the AK006 program. This transfer was formalized when Concentra Biosciences completed the merger on May 15, 2025. The transaction converted all outstanding common stock into the right to receive $0.33 in net cash per share. This process effectively cleaned up the structure by removing the public listing requirement, as Allakos notified Nasdaq and requested delisting and deregistration following the merger completion.

Acquisition Date	May 15, 2025
Cash Consideration Per Share	$0.33
Total Transaction Value	$31 million
Tender Offer Share Acceptance	81.21%
Prior Nasdaq Compliance Deadline	September 8, 2025

Maximizing residual cash value for the acquirer through efficient wind-down

A key component was the estimated cash position available post-restructuring, which Concentra Biosciences required to be at least $35.5 million at closing. Allakos had already taken steps to reduce its burn rate, including a workforce reduction of approximately 75%. The value proposition was the remaining cash after accounting for the wind-down costs associated with discontinuing the AK006 development. The company estimated its cash, cash equivalents, and investments would be in a range of approximately $35 million to $40 million at June 30, 2025, after incurring restructuring costs between $34 million and $38 million. This provided a clear, quantified residual value for the acquirer to manage.

Offering a targeted antibody platform for allergic and inflammatory diseases (IP value)

The underlying IP value resided in the remaining antibody platform focused on immunomodulatory receptors. This platform was the basis for the company's historical focus on allergy, inflammatory, and proliferative diseases. The portfolio was centered on specific molecular targets, representing potential future value for Concentra Biosciences to explore or divest.

• Antibodies targeting Siglec-6.
• Antibodies targeting Siglec-8.
• Other anti-Siglec antibodies, including some in preclinical development.

The AK006 program, which targeted Siglec-6, was discontinued after its Phase 1 trial failed to show clinical benefit in chronic spontaneous urticaria patients. The prior R&D expense for the AK006 and AK006 programs was $36.7 million in Q3 2023.

Allakos Inc. (ALLK) - Canvas Business Model: Customer Relationships

You're looking at the relationships Allakos Inc. maintained right up to its acquisition by Concentra Biosciences, LLC in May 2025. Post-acquisition, the customer relationship structure fundamentally shifts from a public company model to an internal, parent-subsidiary dynamic. This is a clean break, not a gradual evolution.

Direct, high-level relationship with the new parent company, Concentra Biosciences

The primary relationship became one of complete integration, effective May 15, 2025, when Concentra Biosciences, LLC completed the acquisition. Before that, the relationship was defined by the definitive merger agreement signed April 2, 2025. This wasn't a partnership; it was a takeover where Allakos's board unanimously determined the deal was in the best interest of its shareholders.

The core of this high-level relationship was the transaction mechanics:

• Acquisition price per share: $0.33 in cash.
• The tender offer commenced by April 15, 2025.
• The deal required the tender of at least a majority of outstanding shares.
• A closing condition required the availability of at least $35.5 million of cash net of liabilities.

Here's a quick look at the key figures defining the end of the Allakos Inc. entity relationship with its former public structure:

Transaction Metric	Value
Acquisition Closing Date	May 15, 2025
Cash Consideration Per Share	$0.33
Minimum Closing Cash Condition	$35.5 million
Shareholder Support Agreement Coverage	Approximately 8.07% of Common Stock

Transactional relationship with vendors and CROs for contract termination

For vendors and Contract Research Organizations (CROs), the relationship immediately became transactional and focused on wind-down. This was accelerated by Allakos Inc.'s earlier announcement in January 2025 to restructure operations after discontinuing the development of AK006. The relationship shifted from ongoing service provision to final settlement of obligations.

The financial impact of these terminations was significant, as the company planned for this phase:

• Estimated cash use for severance and contractual payments to vendors: approximately $34 million to $38 million.
• Estimated payment window for the majority of these restructuring costs: the first and second quarters of 2025.
• Research and development expenses in Q4 2024 showed a decrease of $39.0 million year-over-year, partly due to halting lirentelimab development, which included a $31.2 million decrease in contract research costs.

Honestly, when a company restructures this heavily before an acquisition, the relationship with external service providers is purely about closing out the books cleanly.

Minimal investor relations for former shareholders post-acquisition

After the merger consummated before the open on May 15, 2025, the relationship with the vast majority of former shareholders became entirely administrative. The relationship is no longer about ongoing communication, pipeline updates, or future strategy; it's about the final cash distribution.

The key data point here is the final conversion:

Each existing ALLK Common Share converted into the right to receive $0.33 net cash per share. For those holding options, the expiration dates for series after June 20, 2025, were advanced to 06-20-2025, meaning the relationship with option holders was also finalized by that date, settling based on the cash deliverable. The only remaining 'relationship' is the administrative handling of the final cash settlement and the delisting from Nasdaq.

Allakos Inc. (ALLK) - Canvas Business Model: Channels

You're looking at the channels for Allakos Inc. (ALLK) after its acquisition, which fundamentally shifted its operational structure as of mid-2025. The primary channel for reporting and strategic direction is now internal to the acquiring entity, Concentra Biosciences, LLC.

Direct communication and reporting to the Concentra Biosciences management

Following the merger closing on May 15, 2025, Allakos Inc. became a wholly owned subsidiary of Concentra Biosciences, LLC. This transition meant that direct communication channels shifted entirely to the new parent company management structure.

Key operational metrics reflecting the state leading into this change include:

• Workforce reduced by approximately 75% as part of the 2025 Reorganization Plan.
• The Net Loss reported for the first quarter of 2025 (ending prior to the merger) was $26.2 million.
• The Loss from Operations for Q1 2025 was $26.7 million.

The operational focus, as dictated by Concentra Biosciences management, is now on winding down or integrating remaining functions, as evidenced by the discontinuation of the AK006 product candidate in January 2025.

SEC filings for public disclosure until delisting is complete

The public disclosure channel effectively terminated upon the completion of the tender offer and subsequent merger. Trading of Allakos stock on Nasdaq was suspended prior to market opening on May 15, 2025. The last formal public transaction data relates to this event.

The final public financial snapshot and transaction details are:

Metric	Value	Date/Context
Merger Consideration Per Share	$0.33 in cash	Tender Offer Price
Shares Tendered Percentage	Approximately 81.21%	Of outstanding common stock
Last Reported Market Capitalization	$29.74 million	Prior to merger completion
Last Trading Date	May 14, 2025	Last day of trading on Nasdaq
Effective Date for Suspension	May 16, 2025	Stock suspension date

Allakos notified The Nasdaq Global Select Market of the merger completion and requested delisting and deregistration.

Direct contact with a small number of remaining vendors and service providers

With the workforce reduced by about 75% and the focus shifting away from active clinical development post-AK006 discontinuation, the number of active, material vendor relationships is significantly diminished compared to prior periods. The company previously relied on third-party manufacturers for product candidates, as it had no internal manufacturing facilities.

The financial obligations related to these wind-down activities were a key condition of the acquisition. Specifically, the Merger Agreement required the availability of at least $35.5 million of cash at closing, net of transaction costs, wind-down costs, and other liabilities.

Historical data on accrued expenses related to these service providers gives context to the scale of past commitments:

• Accrued contract research and development expenses were $22.3 million as of December 31, 2023.
• The company entered an agreement to terminate its San Carlos lease in November 2024.

Finance: draft post-merger integration budget for remaining service contracts by end of Q3 2025.

Allakos Inc. (ALLK) - Canvas Business Model: Customer Segments

You're looking at the customer segments for Allakos Inc. (ALLK) as it exists in late 2025, which is fundamentally defined by its acquisition by Concentra Biosciences, LLC. The traditional patient/physician segments are now nested within Concentra's structure, so the most relevant segments defining Allakos's current state are the parties to that transaction.

Concentra Biosciences LLC, the new sole corporate owner

Concentra Biosciences LLC is the entity that now controls Allakos Inc. post-merger, which was finalized on May 15, 2025. The transaction involved a tender offer that commenced by April 15, 2025, and required the availability of at least $35.5 million of cash at closing to complete the acquisition of the former Allakos entity. This cash availability figure is net of transaction costs and wind-down costs.

Former shareholders who received the $0.33 per share cash consideration

The former equity holders of Allakos Inc. are a distinct segment, receiving a final cash payout. Each existing ALLK Common Share was converted into the right to receive $0.33 net cash per share. The transaction was valued, based on the offer price, around a total consideration that can be inferred from the market cap at the time of the announcement, which was $29.74 million.

The commitment from existing stakeholders was significant:

• Allakos officers, directors and their respective affiliates held approximately 8.07% of Allakos Common Stock.
• These insiders signed support agreements to tender their shares in the Offer.
• The tender offer needed at least a majority of the total number of outstanding shares tendered.

Contractual partners and vendors involved in the restructuring process

These partners provided essential services to facilitate the merger and subsequent wind-down or integration. Their relationship is transactional, tied to the closing of the deal, which occurred on May 15, 2025.

Here are the key professional service providers involved in the transaction:

Role in Transaction	Entity Name	Fee/Consideration Detail
Legal Counsel to Allakos Inc.	Wilson Sonsini Goodrich & Rosati	No specific fee amount is public, but they advised on the definitive merger agreement.
Legal Counsel to Concentra Biosciences, LLC	Gibson, Dunn & Crutcher LLP	No specific fee amount is public, but they acted as legal counsel to Concentra.
Financial Advisor to Allakos Inc.	Houlihan Lokey Capital, Inc.	Provided fairness opinion to Allakos.
Depository Bank to Concentra	Broadridge Corporate Issuer Solutions, LLC	Acted as Depository Bank to Concentra for the transaction.

Also, note the termination fee structure, which represents a potential payment to a counterparty if the deal failed under specific conditions. If the merger agreement was terminated due to Allakos entering into a superior proposal, Allakos would owe Concentra a termination fee of $1.2 million. If Concentra terminated because Closing Net Cash was less than $35.5 million, Allakos would owe Concentra an expense reimbursement fee up to a maximum of $0.5 million.

Finance: draft 13-week cash view by Friday.

Allakos Inc. (ALLK) - Canvas Business Model: Cost Structure

You're looking at the cost structure for Allakos Inc. after the major pivot in early 2025. The focus shifted entirely to cost containment while exploring strategic alternatives, so the expense profile changed dramatically from prior periods.

The most significant, one-time hit to the cost base was the restructuring costs associated with the discontinuation of the AK006 program and the workforce reduction. Allakos Inc. estimated these costs to be between $34 million to $38 million, with a significant majority expected to be paid out over the first and second quarters of 2025. This included severance and contractual payments to vendors, plus an early lease termination agreement finalized for approximately $2.5 million.

The operational cost structure reflects this aggressive scaling back. The company implemented a reorganization plan that reduced its workforce by approximately 75%, aiming to retain only about 15 employees to manage compliance and strategic options. This small remaining team is intended to keep General and Administrative (G&A) expenses lean, though the costs associated with exiting the San Carlos facility pushed Q1 2025 G&A to $13.2 million.

Here's a quick look at the key operating expenses for the first quarter of 2025, showing the impact of the restructuring decisions:

Expense Category	Q1 2025 Amount (USD)	Comparison to Q1 2024 (USD)
Research and Development (R&D) Expenses	$13.5 million	Decreased from $34.8 million
General and Administrative (G&A) Expenses	$13.2 million	Increased from $10.9 million
Total Operating Expenses	$26.7 million	Decreased from $73.1 million

The Research and Development (R&D) expenses saw a sharp reduction, dropping to $13.5 million for the three months ended March 31, 2025, down from $34.8 million in the same period in 2024. This decrease was directly tied to lower manufacturing and clinical spending following the halt of the AK006 program.

Even with the reduced operating burn, the company still faces necessary, non-discretionary costs inherent to being a public entity. These include:

• Ongoing legal fees related to the wind-down and strategic review process.
• Accounting costs for financial reporting.
• Mandatory public company compliance fees to maintain its listing status.

The cash position reflects these changes; Allakos Inc. ended Q4 2024 with approximately $81 million in cash, cash equivalents, and investments, and estimated holding between $35 million to $40 million by June 30, 2025, after accounting for the restructuring outflows. Finance: draft 13-week cash view by Friday.

Allakos Inc. (ALLK) - Canvas Business Model: Revenue Streams

As of late 2025, the revenue streams for Allakos Inc. reflect its status as a pre-commercial entity culminating in a merger event.

Product Sales Revenue

• Allakos Inc. did not generate any revenue during the three months ended March 31, 2025.

Investment Income

Interest income is derived from the balances held in cash, cash equivalents, and investments. For context on the scale of investment-related income prior to the acquisition, the interest income for the first quarter of 2024 was reported:

Metric	Amount (in thousands)
Interest income (Q1 2024)	$1,995

The company's investing activities in the first quarter of 2025 showed significant cash generation from investment management:

• Net Cash Provided by Investing Activities for the three months ended March 31, 2025, was $33.4 million.

One-Time Cash Proceeds from Acquisition

The primary financial event concluding the public entity's revenue-generating structure was the acquisition by Concentra Biosciences, LLC, effective May 15, 2025.

Acquisition Detail	Value
Merger/Acquisition Date	15-May-2025
Cash Offer Per Share	USD 0.33
Total Deal Amount	$30.6M

This transaction represented a final cash realization event for the former shareholders of Allakos Inc.