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].
Aktis Oncology kicks 2026 IPO cycle off with $210m target