Core Insights - Akari Therapeutics is advancing the development of next-generation precision bi-functional antibody drug conjugates (ADCs) to treat various cancer types, with a focus on its lead program, AKTX-101, for solid tumors [1][2][10] - The company has made strategic leadership appointments to enhance its capabilities and is well-positioned to capitalize on opportunities in the ADC space [2][3] - Akari's innovative platform technology allows for the generation of novel ADC candidates that aim to overcome limitations of existing therapies [3][5][10] Program Highlights - Following the merger with Peak Bio, Akari is concentrating on discovering and developing novel anti-cancer payloads with unique mechanisms of action [3] - The company is advancing a pipeline of potentially first-in-class ADC candidates designed to target and kill cancer cells while stimulating the immune system [3][5] Lead Candidate: AKTX-101 - AKTX-101 is a novel TROP2 PH1 ADC that utilizes a spliceosome inhibitor with multiple anti-tumor mechanisms [4][10] - Preclinical studies indicate that AKTX-101 has superior activity, prolonged survival, reduced resistance, and better tolerability compared to current ADCs [5][10] Financial Overview - For the fiscal year ended December 31, 2024, Akari reported a net loss from operations of approximately 16.8 million in 2023, primarily due to merger-related costs and increased R&D expenses [7][8][19] - Research and development expenses were approximately 5.5 million in 2023, while general and administrative expenses decreased to approximately 11.4 million [8][19] - As of December 31, 2024, the company had cash of approximately $2.6 million, which, along with net proceeds from a private placement, is expected to fund operations into September 2025 [9][10] Legacy Pipeline Assets - The company is actively seeking development partners to secure non-dilutive capital for its legacy pipeline assets [6][10] Executive Team and Strategic Direction - Akari has made key leadership appointments to strengthen its executive team, including the appointment of Abizer Gaslightwala as President and CEO effective April 21, 2025 [2][13]
Akari Therapeutics Reports Full Year 2024 Financial Results and Provides Corporate Update