December 4, 2019 / 10:21 PM / 11 days ago

U.S. biotech firm Allakos exploring options, including sale - Bloomberg

(Reuters) - U.S. biotech company Allakos Inc (ALLK.O) is considering strategic options that include a potential sale, Bloomberg reported on Wednesday, citing people familiar with the matter.

Allakos is working with financial adviser and is sounding out interest from potential buyers including global pharmaceutical and biotech companies, according to the report.

Shares of the company closed up nearly 44% on Wednesday after Bloomberg’s report.

A final decision has not yet been taken and Allakos could decide against a sale, Bloomberg added.

Allakos declined to comment on the report.

Reporting by Ismail Shakil and Sanjana Shivdas in Bengaluru; Editing by Shailesh Kuber

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