Akari Therapeutics(AKTX) - 2025 Q1 - Quarterly Results

Financial Performance - The net loss from operations for the year ended December 31, 2024, was approximately $21.6 million, an increase from approximately$16.8 million in 2023, primarily due to merger-related costs of $3.3 million and restructuring costs of$1.7 million[6]. - The company reported a net loss of $19.8 million for the year ended December 31, 2024, compared to a net loss of$10.0 million in 2023[19]. - Total operating expenses for 2024 were $21.6 million, compared to$16.8 million in 2023, reflecting the impact of merger-related expenses and increased R&D costs[19]. Research and Development - Research and development expenses for 2024 were reported at $7.0 million, compared to approximately$5.5 million in 2023, while general and administrative expenses decreased to approximately $9.7 million from$11.4 million[7]. - The lead candidate, AKTX-101, is a TROP2 PH1 ADC with a novel spliceosome inhibitor payload, showing superior activity and prolonged survival in preclinical models compared to existing ADCs[4]. - The company plans to continue advancing its pipeline by generating additional validating data on its PH1 payload while exploring new novel payloads PH5 and PH6[10]. Merger and Strategic Focus - Following the merger with Peak Bio, Inc. in November 2024, the company is focusing on the discovery and development of novel anti-cancer payloads that differ from currently approved ADC therapies[3]. - The company aims to secure development partners for its legacy pipeline assets to provide non-dilutive capital[5]. Financial Position - As of December 31, 2024, the company had cash of approximately $2.6 million, and with the net proceeds from a private placement of$6.6 million announced in March 2025, it is expected to fund operations into September 2025[8]. - The total assets as of December 31, 2024, were $50.6 million, significantly up from$4.4 million in 2023, primarily due to the merger[17].