Clinical-stage biotechnology company Aktis Oncology Inc. (AKTS.US), which specializes in developing radiopharmaceutical therapies, has announced plans for a U.S. initial public offering (IPO) to raise up to $212 million. According to a prospectus filed with the SEC on Monday, the Boston-based firm intends to offer 11.8 million shares priced between $16 and $18 each. Should the offering price reach the top of that range, and based on the number of shares outstanding detailed in the filing, the company would command a valuation of approximately $840 million. This proposed listing comes as the market anticipates a potential wave of IPOs around early 2026. Diabetes management firm MiniMed Group (MMED.US) is preparing for its market debut following a spin-off from medical giant Medtronic (MDT.US), while equipment rental company EquipmentShare.com Inc. (EQPT.US) and Arko Petroleum Corp. (APC.US) both submitted IPO applications last December. The filing reveals that Aktis, founded in 2021, is focused on developing technologies that utilize alpha-particle emitting radiopharmaceuticals to treat solid tumors. For the nine months ending September 30, the company reported revenue of $4.6 million against a net loss of $48.6 million; this compares to revenue of $554,000 and a net loss of $31.9 million for the same period a year earlier. To date, Aktis has secured approximately $346 million in funding from a consortium of leading life science institutional investors, including MPM, Vida, EcoR1 Capital, and Blue Owl Capital. Pre-IPO, entities affiliated with MPM hold a 26% stake in Aktis, with Vida Ventures owning 14%, EcoR1 holding 11%, and Blue Owl possessing 7%. The IPO is being led by J.P. Morgan, Bank of America, Leerink Partners, and TD Securities. The company plans to list on the Nasdaq Global Market under the ticker symbol "AKTS."
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