08:55 AM EDT, 04/02/2025 (MT Newswires) -- Allakos ( ALLK ) shares were over 45% higher in recent premarket trading Wednesday after the company said it has entered into a definitive agreement to be acquired by Concentra Biosciences.

Under the merger agreement, a Concentra subsidiary will start a tender offer to acquire all outstanding shares of Allakos ( ALLK ) for $0.33 per share in cash by April 15.

The transaction is expected to close in May, Allakos ( ALLK ) said.