Allakos Inc. (ALLK) entered a merger agreement on April 2, 2025, to be acquired by Concentra Biosciences, LLC through a tender offer of $8.97 million.
Under the terms of the agreement, Concentra Biosciences will acquire Allakos for $0.33 in cash per share of Allakos common stock, representing a premium of 50% from the stock’s last close.
A wholly owned subsidiary of Concentra will commence a tender offer by April 15, 2025, to acquire all outstanding shares of Allakos common stock.
Allakos is a clinical-stage biopharmaceutical company developing therapeutics that target immunomodulatory receptors on immune cells to treat allergy, inflammatory, and proliferative diseases. Its main drug, lirentelimab (AK002), is being tested in late-stage clinical trials to treat conditions like eosinophilic gastritis, eosinophilic esophagitis, and chronic hives.
The deal is expected to close in May 2025.
Allakos has appointed Wilson Sonsini Goodrich & Rosati as its legal counsel, while Concentra Biosciences is being advised by Gibson, Dunn & Crutcher.
For further insight into this merger and acquisition deal, please visit the Deal Metrics page here:
Deal Metrics for the acquisition of Allakos Inc. (ALLK) by Concentra Biosciences, LLC
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Editor’s Note: Baranjot Kaur contributed to this article