Akari Therapeutics raises $5.5 million in private placement

Akari Therapeutics Plc (NASDAQ: AKTX) announced the pricing of a private placement financing expected to raise approximately $5.5 million in gross proceeds. The biotechnology company develops antibody drug conjugates with RNA splicing modulator payloads for oncology applications.

The company issued 1,470,588 American Depository Shares at $3.74 per share, along with Series H, I and J warrants. The warrants require shareholder approval and are exercisable for 1,470,588 ADSs each at $3.74 per share. Series H warrants have an 18-month term, while Series I and J warrants have 60-month terms.

Akari plans to use the net proceeds for working capital and general corporate purposes, with a focus on advancing its lead program AKTX-101 toward a Phase 1 clinical trial. AKTX-101 targets the Trop2 receptor using the company's PH1 payload technology.

"This financing reflects deep conviction from our long-term strategic investors and positions Akari to build on our strong momentum to accelerate our lead ADC program towards clinical data, pursue strategic partnerships, and unlock the full potential of our novel ADC platform," said CEO Abizer Gaslightwala.

Paulson Investment Company LLC served as placement agent for the financing. The proceeds will be funded through three separate closings expected between May 27, 2026 and July 15, 2026.

The securities are being offered through a private placement under Section 4(a)(2) of the Securities Act of 1933 and have not been registered with the Securities and Exchange Commission.

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