Group 1 - Aktis Oncology is a clinical-stage biotechnology company focused on developing targeted radiopharmaceuticals for the treatment of solid tumors, planning to list on NASDAQ by issuing 17.7 million shares at $18 each, raising $318 million [1] - The company initially planned to issue 11.8 million shares but expanded the offering size, with Eli Lilly (LLY.US) committing to purchase $100 million worth of shares [1] - Following the pricing, Aktis's fully diluted market capitalization reached $1 billion [1] Group 2 - Aktis Oncology's pipeline includes Ac-AKY-1189, targeting Nectin-4 expressing cancers, currently in a multi-center Phase 1b clinical trial with approximately 150 patients recruited, expecting preliminary results in Q1 2027 [1] - The company is also developing Ac-AKY-2519 for B7-H3 expressing tumors, with plans to submit an Investigational New Drug (IND) application in 2026 [1] - Aktis manages several domestic and international isotope supply partnerships and is investing in an internal cGMP facility expected to be operational by 2026, while collaborating with partners on additional mini-protein radioconjugate projects [1]

Group 1 - Aktis Oncology has priced its upsized U.S. initial public offering at $18 per share [1] - The IPO is expected to raise approximately $318 million [1]

Company Overview - Aktis Oncology, Inc. is a clinical-stage oncology company focused on expanding the potential of targeted radiopharmaceuticals for large patient populations, including those not addressed by existing technologies [5] - The company's most advanced pipeline program targets Nectin-4, a miniprotein radioconjugate with potential applications across multiple tumor types [5] - Aktis has developed a proprietary miniprotein radioconjugate platform designed to selectively deliver tumor-killing properties of radioisotopes to targeted tumors while minimizing side effects [5] - The platform is isotope-agnostic and allows clinicians to visualize and verify target engagement with imaging isotopes before therapeutic exposure [5] - Aktis has a strategic collaboration with Eli Lilly and Company to develop novel radioconjugates outside of its proprietary pipeline [5] IPO Details - Aktis announced the pricing of its upsized initial public offering of 17,650,000 shares at a price of $18.00 per share, with gross proceeds expected to be approximately $318.0 million [1] - The underwriters have a 30-day option to purchase up to an additional 2,647,500 shares at the initial public offering price [1] - The common stock is expected to begin trading on the Nasdaq Global Select Market under the ticker symbol "AKTS" on January 9, 2026, with the offering expected to close on January 12, 2026 [1]

Company Overview - Aktis Oncology raised $318 million from its initial public offering (IPO), marking the first IPO for a biotechnology company in 2026 [1] - The company priced 17.65 million shares at $18 each, exceeding its initial plan, with Eli Lilly purchasing $100 million worth of shares [2] - Aktis will begin trading on Nasdaq under the ticker symbol "AKTS" [2] Product Pipeline - The most advanced prospect, AKY-1189, is a "miniprotein radioconjugate" targeting Nectin-4, similar to Pfizer's bladder cancer drug Padcev [3] - A second drug, AKY-2519, targets solid tumors expressing the B7-H3 protein, which have shown poor responses to existing therapies [4] - Phase 1 study results for AKY-1189 are expected in the first quarter of 2027 [3] Funding and Market Context - Prior to the IPO, Aktis secured $346 million in private funding from investors including MPM BioImpact, Vida Ventures, and RA Capital [5] - The previous year saw a slow fundraising environment for biotech companies, with fewer than a dozen IPOs, and only one cancer drug developer, Ascentage Pharma, successfully pricing an IPO [5] - The radiopharmaceutical sector has attracted major pharmaceutical firms, with Aktis' IPO ranking as the third-largest in the sector since the start of 2024 [6]

Table of Contents As filed with the Securities and Exchange Commission on January 7, 2026. Registration No. 333-292283 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 2 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Copies to: Siavosh Salimi William A. Magioncalda Paul Hastings LLP The MetLife Building 200 Park Avenue New York, New York 10166 (212) 318-6000 Aktis Oncology, Inc. (Exact name of registrant as specified in its charter) Delaware 2834 85- ...

Core Insights - Donovan Jones is an IPO research specialist with 15 years of experience in identifying high-quality IPO opportunities [1] - He leads the investing group IPO Edge, which provides actionable information on growth stocks through various resources including IPO filings, previews, calendars, and a comprehensive guide to IPO investing [1] Group 1 - IPO Edge offers a database of U.S. IPOs and tracks upcoming IPOs, facilitating investors in navigating the IPO lifecycle from filing to listing [1] - The group emphasizes the importance of understanding the quiet period and lockup expiration dates in the IPO process [1]

Core Viewpoint - Aktis Oncology is planning an IPO with expected proceeds of approximately $210 million, marking a potential resurgence in the biotech IPO landscape for 2026 [1][7]. Company Overview - Aktis Oncology focuses on cancer treatments, specifically through the development of radiopharmaceuticals that utilize alpha radiation to target and destroy cancer cells while minimizing damage to healthy cells [3][4]. - The company is offering 11,775,000 shares of common stock at a price range of $16 to $18 per share, aiming to trade under the ticker "AKTS" on the Nasdaq Global Market [2]. Financial Projections - If the IPO occurs at the midpoint of the price range, Aktis anticipates raising $181.7 million, which could increase to $209.6 million if underwriters exercise their 30-day option [3]. - The company plans to allocate approximately $140-150 million of the IPO proceeds to fund the Phase Ib trial of its lead program, [225Ac]Ac-AKY-1189, and $70-80 million for a planned study of its second program, [225Ac]Ac-AKY-2519 [5]. Pipeline and Development - Aktis' most advanced program, [225Ac]Ac-AKY-1189, is currently in a Phase Ib trial targeting Nectin-4 expressing solid tumors [4]. - The second program, [225Ac]Ac-AKY-2519, targets B7-H3 expressing solid tumors, including prostate, lung, and breast cancers, both utilizing the alpha-emitting isotope Actinium-225 [4]. Industry Context - The IPO landscape for biotech companies appears to be recovering, with recent successful listings such as LB Pharmaceuticals' $285 million IPO in September 2025 and others following suit [7]. - Aktis has already attracted interest from major pharmaceutical companies, including Bristol Myers Squibb and MSD's venture fund, which participated in a $175 million series B funding round in 2024 [5][6].

Group 1 - Aktis Oncology Inc. plans to conduct an initial public offering (IPO) in the U.S. to raise up to $212 million [1] - The company intends to issue 11.8 million shares at a price range of $16-18 per share, leading to an estimated valuation of approximately $840 million [2] - Aktis specializes in developing α-particle radiotherapy for solid tumors and has raised about $346 million from top life sciences investors [2] Group 2 - As of September 30, the company reported revenue of $4.6 million and a net loss of $48.6 million for the nine months, compared to revenue of $554,000 and a net loss of $31.9 million in the same period the previous year [2] - Major shareholders before the IPO include MPM (26%), Vida Ventures (14%), EcoR1 (11%), and Blue Owl (7%) [3] - The IPO will be led by JPMorgan, Bank of America, Leerink Partners, and TD Securities, with plans to list on the NASDAQ under the ticker symbol AKTS [3]

Group 1 - Aktis Oncology Inc. plans to conduct an initial public offering (IPO) in the United States, aiming to raise up to $212 million [1] - The company intends to issue 11.8 million shares at a price range of $16 to $18 per share, potentially valuing the company at approximately $840 million [1] - Aktis specializes in developing alpha particle radiotherapy for solid tumors and was founded in 2021 [1] Group 2 - For the nine months ending September 30, the company reported revenues of $4.6 million and a net loss of $48.6 million, compared to revenues of $554,000 and a net loss of $31.9 million in the same period the previous year [1] - Aktis has raised approximately $346 million from top life sciences investors, including MPM, Vida, EcoR1 Capital, and Blue Owl Capital [2] - The IPO will be led by JPMorgan, Bank of America, Leerink Partners, and TD Securities, with plans to list on the NASDAQ under the ticker symbol AKTS [2]

Table of Contents As filed with the Securities and Exchange Commission on January 5, 2026. Registration No. 333-292283 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Aktis Oncology, Inc. (Exact name of registrant as specified in its charter) Delaware 2834 85-2584233 (State or other jurisdiction of Incorporation or organization (Primary Standard Industrial Classification Code Number) (I.R.S. Employer ...