Akari Therapeutics, Plc (Nasdaq: AKTX) reported financial results for the third quarter ended September 30, 2026, and announced significant progress in its clinical development pipeline. The company closed the quarter with $5.7 million in cash, a figure described as the second highest since 2024. Operating expenses for the period totaled $4.7 million, compared to $7.4 million in the prior year, driven by increased investment in research and development.
Research and development expenses were approximately $2.1 million for the three months ended September 30, 2026, compared to approximately $0.2 million in the comparable period of 2025. General and administrative expenses were approximately $2.6 million for the same period, an increase attributed to higher professional fees and a one-time cost associated with terminating an agreement with a prior placement agent. The company reported a net loss of approximately $4.8 million for the quarter.
In terms of clinical milestones, Akari initiated GLP toxicology studies for its lead candidate, AKTX-101, a TROP2-targeted antibody drug conjugate (ADC) utilizing its proprietary PH1 payload. The company stated that these studies represent a critical step toward filing an Investigational New Drug (IND) application to support a planned Phase 1 clinical trial in mid-2027.
Preclinical data released alongside the financial results demonstrated encouraging anti-tumor activity for AKTX-101 in urothelial cancer models. Specifically, the company reported statistically significant tumor growth inhibition in the UM-UC-14 advanced urothelial carcinoma model, where the approved therapy Padcev showed limited activity. Additionally, AKTX-101 slowed tumor growth in a model of acquired resistance to Trodelvy.
Akari also announced a collaboration with Whitehawk Therapeutics to explore the development of a novel dual payload construct utilizing the PH1 payload. Furthermore, the company filed an international patent application (PCT/US2026/45955) covering PH1’s modulation of alternative RNA splicing pathways implicated in tumor growth and resistance. In October 2026, the company appointed Vatnak Vat-Ho as Chief Business Officer to strengthen its capabilities in pursuing strategic partnerships and licensing arrangements.
