Akari Therapeutics Announces ADS Ratio Change

Core Viewpoint - Akari Therapeutics is changing the ratio of its American Depositary Shares (ADSs) to ordinary shares to comply with Nasdaq's minimum bid price requirement, effective March 31, 2026 [1][2]. Group 1: ADS Ratio Change - The new ratio will be one ADS representing eighty thousand (80,000) ordinary shares, changing from the previous ratio of one ADS representing two thousand (2,000) ordinary shares [1][2]. - Each ADS holder will need to exchange every forty ADSs for one new ADS [2]. - Deutsche Bank will facilitate the exchange of current ADSs for new ADSs, and there will be no change to Akari's underlying ordinary shares [2]. Group 2: Fractional ADSs - No fractional new ADSs will be issued; instead, fractional entitlements will be aggregated and sold, with net cash proceeds distributed to ADS holders [3]. Group 3: Company Overview - Akari Therapeutics is focused on developing next-generation antibody drug conjugates (ADCs) with a unique payload, PH1, targeting RNA splicing [4]. - The lead candidate, AKTX-101, targets the Trop2 receptor on cancer cells and has shown significant activity in preclinical studies, with potential synergy with checkpoint inhibitors [4]. - Akari is also developing AKTX-102, targeting CEACAM5, leveraging the proprietary PH1 payload for differentiated tumor cell killing and immune activation [4].