04:55 PM EDT, 10/10/2024 (MT Newswires) -- Allakos ( ALLK ) said Thursday results of a phase 1 trial showed that a subcutaneously administered AK006, its investigational monoclonal antibody that selectively inhibits mast cells, was "well-tolerated with a favorable safety profile."

The company reported data from single dose subcutaneous AK006 up to 720 milligrams, with skin biopsies taken from treated healthy volunteers showing high levels of receptor occupancy, confirming that AK006 reached skin tissue mast cells. The results were consistent with the trial of intravenously-administered AK006, it said.

The results showed there were no serious adverse events in subjects, no treatment emergent adverse events leading to discontinuation of AK006, and no dose limiting toxicities, Allakos ( ALLK ) said.

The company expects topline phase 1 results of intravenous AK006 in patients with chronic spontaneous urticaria in early Q1 next year.

Shares of the company were advancing over 7% in extended trading.

Price: 0.7076, Change: +0.05, Percent Change: +7.37