Core Viewpoint - Aktis Oncology, Inc. has successfully closed its upsized initial public offering (IPO) of 17,650,000 shares at a price of $18.00 per share, with additional shares bringing total gross proceeds to approximately $365.4 million [1]. Company Overview - Aktis Oncology is a clinical-stage oncology company focused on targeted radiopharmaceuticals aimed at large patient populations, including those not served by existing technologies [4]. - The company's advanced pipeline program targets Nectin-4, utilizing a miniprotein radioconjugate platform designed to deliver radioisotopes selectively to tumors while minimizing side effects [4]. - Aktis' platform is isotope-agnostic, allowing for visualization and verification of target engagement with imaging isotopes before therapeutic exposure [4]. - The company has a strategic collaboration with Eli Lilly and Company to develop novel radioconjugates beyond its proprietary pipeline [4]. IPO Details - The IPO was completed on January 12, 2026, with the underwriters fully exercising their option to purchase an additional 2,647,500 shares, expected to close on January 14, 2026 [1]. - The total gross proceeds from the IPO, including the additional shares, are anticipated to be around $365.4 million before deducting underwriting discounts and commissions [1]. - Aktis' common stock began trading on the Nasdaq Global Select Market under the ticker symbol "AKTS" on January 9, 2026 [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]

Industry Overview - The biotech IPO market in 2025 has experienced a significant downturn, with only 11 drug startups raising approximately $1.6 billion in IPO proceeds as of December 22, marking the lowest levels in at least seven years [3] - This performance is notably below the $3.5 billion raised by two dozen biotechs in 2024, indicating a continued decline from historical norms [3] Future Outlook - There are indications that IPO activity may rebound in 2026, as many biotechs that went public in 2025 are currently trading above their offering prices [4] - The acquisition of Metsera for $10 billion highlights renewed interest in biotech, alongside a rebound in public company stock prices due to increased M&A activity and improved sentiment regarding drug pricing and tariff policies [4] Private Financing Trends - An analysis from RBC Capital Markets revealed a 44% increase in private financing in the second half of 2025 compared to the first half, suggesting a healthier biotech ecosystem [5] - The firm anticipates that the IPO window will open in the coming year, with Aktis Oncology positioned to be the first to test investor appetite in 2026 [5] Aktis Oncology - Aktis Oncology has filed for an initial public offering, aiming to advance its pipeline of radiopharmaceuticals for cancer [6] - The company specializes in "miniprotein radioconjugates," which are designed to target tumor sites that current technologies cannot access [6] - Aktis has established partnerships with major pharmaceutical companies, including Eli Lilly, Merck & Co., Novartis, and Bristol Myers Squibb, and raised about $346 million in private financing prior to its IPO filing [6]