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Allakos prices upsized $350M common stock offering

Allakos Inc. priced its upsized offering of 4,545,454 common shares at $77 per share.

The Redwood City, Calif.-based drugmaker also granted underwriters an option to buy up to an additional $52.5 million worth of shares.

The offering size of $350 million was upsized from a previous offering size of $200 million.

Allakos, which develops therapies targeting allergic, inflammatory and proliferative diseases, plans to use net proceeds for general corporate purposes.

Goldman Sachs & Co. LLC and Jefferies LLC are acting as joint book-running managers for the offering, while William Blair & Co. LLC and LifeSci Capital LLC are acting as the co-managers.