Why Allakos Stock Sank 17.3% in February
Shares of Allakos (NASDAQ: ALLK) fell 17.3% in February, according to data from S&P Global Market Intelligence. The biotech stock lost ground as investors continued to move out of risky, speculative plays.
In December, Allakos published devastating trial data for its lirentelimab monoclonal antibody treatment for eosinophilic gastrointestinal diseases (EGIDs), and the company's share price has continued to lose ground after its initial, precipitous pullback. Facing a multitude of risk factors, investors have become much more risk averse, and there hasn't been any business-specific developments to suggest an improving outlook for the clinical-stage biotech.
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Source Fool.com
