** Shares of drug developer Allakos ALLK.O rise 45.6% to 32 cents premarket
** Concentra Biosciences will buy Allakos for 33 cents per share in cash, a premium of 52% to ALLK's last close
** Allakos says a wholly owned subsidiary of Concentra will commence a tender offer by April 15 to acquire all outstanding shares of ALLK
** Co expects the deal to close in May 2025
** Says closing of the deal is subject to availability of at least $35.5 million of cash at closing, and other customary closing conditions
** Shares of the company have fallen 82.1% YTD
(Reporting by Sneha S K )
(( Sneha.SK@thomsonreuters.com))
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