Aktis Oncology (AKTS.US), a clinical-stage biotechnology company focused on developing targeted radiopharmaceuticals for solid tumors, is set to list on the Nasdaq tonight. The company raised $318 million by offering 17.7 million shares at $18 per share, which is at the high end of its $16 to $18 price range. Initially planning to offer 11.8 million shares within the same price range, the company expanded the offering size on Wednesday. Partner Eli Lilly (LLY.US) has indicated it will purchase $100 million worth of stock in the offering. Following the pricing, Aktis Oncology's fully diluted market valuation reaches $1 billion.
Aktis Oncology is a clinical-stage oncology company dedicated to developing alpha-particle radiopharmaceuticals for common solid tumors. Its development pipeline includes: Ac-AKY-1189 for Nectin-4 expressing cancers, currently in a multi-center U.S. Phase 1b clinical trial that has enrolled approximately 150 patients, with preliminary results expected in the first quarter of 2027; and Ac-AKY-2519 for B7-H3 expressing tumors, with an Investigational New Drug (IND) application planned for submission in 2026. Furthermore, the company manages multiple domestic and international isotope supply partnerships, an internally invested cGMP facility expected to be operational by 2026, and discovery-stage collaborations with partners to advance additional miniprotein radioconjugate programs. J.P. Morgan, BofA Securities, Leerink Partners, and TD Cowen are acting as joint book-running managers for the offering.
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