Tampa – October 27, 2026 -- Akari Therapeutics (Nasdaq: AKTX) reported a second-quarter 2026 net loss of $4.8 million, up from $1.9 million a year earlier, as research and development spending tripled to $2.1 million ahead of a planned Phase 1 start for its lead antibody drug conjugate (ADC), AKTX-101, in mid-2027.
Akari raised $8.6 million gross in the quarter, lifting cash to $7.7 million
The company closed a private placement with $5.5 million in gross proceeds and booked $3.1 million in gross proceeds from warrant exercises. Total gross financing was approximately $8.6 million, with approximately $8.0 million in net proceeds. Cash stood at $7.7 million on June 30, 2026, up from $5.2 million at December 31, 2025. Akari said long-term strategic investors led the financing.
R&D spending rises from $0.7 million to $2.1 million on IND-enabling work
Akari attributed the increase to expanded development and manufacturing activities supporting AKTX-101 through IND-enabling studies. General and administrative expenses were flat at $2.5 million, matching the second quarter of 2025.
AKTX-101 targets the Trop2 receptor and carries the company's PH1 payload, a spliceosome modulator designed to disrupt RNA splicing in cancer cells. Akari is also developing AKTX-102, which targets CEACAM5.
Whitehawk collaboration pairs PH1 with a topoisomerase I payload
Akari entered a research collaboration with Whitehawk Therapeutics on dual-payload ADCs. The work will evaluate PH1 in combination with Whitehawk's topoisomerase I payload platform. The stated aim is to test whether complementary payload technologies can enhance anti-tumor activity.
ASCO 2026 data show PH1 synergy with an approved KRAS inhibitor
At the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting, Akari presented preclinical data showing synergistic anti-tumor activity when PH1 was combined with an approved KRAS inhibitor in KRAS-mutated pancreatic cancer models. The company said the results support using PH1-based ADCs against KRAS-mutant tumors.
Akari also reported newly issued international patents covering the PH1 payload technology.
CEO Abizer Gaslightwala said the company has a "clear focus on advancing AKTX-101 towards the clinic" and is executing the IND-enabling work needed to support the mid-2027 trial start.