New York, May 22, 2026, 09:08 EDT
Akari Therapeutics (AKTX) looked set to surge at the open Friday. The biotech said its main cancer drug posted positive preclinical data in KRAS-mutated pancreatic cancer and announced a $5.5 million private placement. Akari closed up nearly 50% at $5.14 on Thursday. Shares were quoted at $10.15 as of 8:39 a.m. EDT in premarket, StockAnalysis reported.
Akari remains a preclinical firm without drug revenue, so this latest data is key for bulls watching AKTX-101. The new financing hands Akari added cash to try to move the program into human trials.
Akari said its AKTX-101 antibody-drug conjugate, or ADC, worked with adagrasib, a KRAS inhibitor, to kill pancreatic cancer cells with KRAS G12D and G12C mutations. The company said the combo showed synergistic cell-killing in these cell lines. KRAS mutations are seen in cancers like pancreatic, colorectal, and non-small cell lung cancer. Akari Therapeutics
Akari said it didn’t see the same combo effect with TROP2 ADCs using topoisomerase I inhibitor payloads, which turned antagonistic when used with adagrasib. That’s what caught investors’ attention: Akari is pushing the idea its PH1 payload acts differently than more established TROP2 ADCs.
Chief Executive Abizer Gaslightwala said the data shows PH1 could have a “fundamentally differentiated mechanism.” Dr. Satyajit Mitra, executive director and head of oncology at Akari, said KRAS mutations have been “incredibly difficult to drug.” Akari Therapeutics
Akari said it started IND-enabling studies, the step before applying to run human trials in the U.S., and it aims to kick off a Phase 1 first-in-human trial by mid-2027. Phase 1 is about safety and dosage.
Akari announced the deal the same day, saying it lined up to sell 1,470,588 unregistered American depositary shares or pre-funded warrants instead, along with Series H, I, and J warrants, priced at $3.74 per ADS. The company estimates roughly $5.5 million in gross proceeds before fees. Closings are set for three tranches between May 27 and July 15.
Gaslightwala called the financing a sign of “deep conviction” from its long-term strategic backers. The company plans to use the money for working capital and general corporate purposes, and to push AKTX-101 into Phase 1 tests. Akari Therapeutics
Akari’s cash position is in focus. In its May 19 quarterly report, the company reported $2.8 million in cash as of March 31 with an accumulated deficit of $279.0 million. Akari said that amount wasn’t enough to fund operations for the year after the statements went out, warning of “substantial doubt” about staying in business. Akari Therapeutics
Akari posted a net loss of $14.5 million for the first quarter, widening from a $3.7 million loss in the same period last year. The company hasn’t reported any revenue yet. Akari Therapeutics
TROP2 ADCs are already seeing competition. Gilead’s Trodelvy is a TROP2-targeting antibody plus topoisomerase inhibitor, while AstraZeneca and Daiichi Sankyo’s Datroway got approved in the U.S. in 2025 for a kind of metastatic breast cancer as a TROP2 antibody-topoisomerase inhibitor conjugate. Gilead Investors
Akari’s newest results are preclinical, so there’s the risk lab gains might not show up in human trials. Moves in this thinly traded biotech have flipped before, especially if traders switch attention to dilution from new ADSs and warrants, timing for clinical trials, or questions about funding.
Nasdaq’s standard trading hours are 9:30 a.m. to 4:00 p.m. Eastern, with premarket action before the bell. The exchange shows Memorial Day, Monday, May 25, as a holiday. That makes Friday a full day for trading, but with the long weekend ahead, some expect lighter liquidity. Nasdaq
