Akari Therapeutics reports Q2 2026 results, keeps AKTX-101 Phase 1 on track for mid-2027
The oncology biotech said it raised $8.6 million in gross proceeds during the quarter while advancing its lead ADC candidate through IND-enabling work.
Akari Therapeutics reported financial results for the second quarter ended June 30, 2026, on August 13, 2026, and gave an update on its lead antibody drug conjugate candidate, AKTX-101, which targets the Trop2 receptor and carries the company's PH1 spliceosome-modulating payload. Akari's lead candidate, AKTX-101, targets the Trop2 receptor on cancer cells with a proprietary linker, enabling it to deliver its novel PH1 payload directly into the tumor with minimal off-target effects.1
The company said it continued advancing AKTX-101 through IND-enabling activities by progressing manufacturing and development work to enable the Phase 1 clinical trial, and remains focused on initiating AKTX-101 for clinical development in mid-2027.1
At the 2026 ASCO Annual Meeting, Akari presented preclinical data showing synergistic anti-tumor activity of its PH1 payload combined with an approved KRAS inhibitor in KRAS-mutated pancreatic cancer models, which the company said support using PH1-based ADCs to attack KRAS mutant tumors.1
Akari also announced a new research pact. The company expanded its strategic position in ADC payloads through a research collaboration with Whitehawk Therapeutics to evaluate Akari's PH1 payload platform in combination with Whitehawk's topoisomerase I payload platform, designed to investigate whether combining the two payload technologies can enhance anti-tumor activity.1
On financing, Akari said it strengthened its balance sheet through a private placement generating $5.5 million in gross proceeds plus warrant exercises worth $3.1 million, for total gross proceeds of about $8.6 million in the quarter, resulting in about $8.0 million in net proceeds.1 Cash totaled $7.7 million as of June 30, 2026, compared with $5.2 million as of December 31, 2025.1
The company is also developing a second candidate. Akari is developing AKTX-102, an ADC candidate targeting CEACAM5, designed to leverage the PH1 payload and a novel antibody construct for tumor cell killing and immune activation.1
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