04:21 PM EDT, 06/25/2024 (MT Newswires) -- Allakos ( ALLK ) reported "positive" results late Tuesday from its single and multiple ascending phase 1 study of intravenous AK006, a monoclonal antibody that selectively inhibits mast cells, in healthy volunteers.

The company said inappropriate activation of mast cells is a pathogenic driver of multiple diseases, including chronic spontaneous urticaria, food allergy, and asthma.

It said single and multiple doses of up to 720 milligrams were "well tolerated with a favorable safety profile." AK006 achieved serum concentrations consistent with levels demonstrating inhibitory activity in preclinical experiments.

The company said skin biopsies from subjects treated with AK006 showed "high receptor occupancy."

Shares of the company slumped 15% in after-hours activity.

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