|Company Name||Allakos Inc.|
On December 18, 2019, Seligman Research published a report alleging that the Company, among other issues, “buried the results for the two AK001 studies it conducted,” has “a checkered history of conducting small, low-credibility trials, marked by . . . discrepancies, omissions, cherry-picking, and other red flags,” and engaged in “[f]lagrant nepotism in key clinical roles.”
On this news, the Company’s stock price fell $13.25, or nearly 10%, to close at $119.28 per share on December 18, 2019, thereby injuring investors.
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