Aktis Oncology, a Phase 1 biotech developing targeted radiopharmaceuticals to treat solid tumors, raised the proposed deal size for its upcoming IPO on Wednesday.
The Boston, MA-based company now plans to raise $300 million by offering 17.7 million shares at a price range of $16 to $18. The company had previously filed to offer 11.8 million shares at the same price range. Partner Eli Lilly has indicated on $100 million worth of shares in the offering (33% of the deal). At the revised deal size, Aktis Oncology will raise 50% more in proceeds than previously anticipated and command a market cap of $960 million.
Aktis Oncology is a clinical-stage oncology company developing alpha-emitting radiopharmaceuticals against prevalent solid tumors. Its pipeline features Ac-AKY-1189 for Nectin-4-expressing cancers, now enrolling about 150 patients in a multi-site US Phase 1b trial with preliminary results expected in the first quarter of 2027, and Ac-AKY-2519 targeting B7-H3-expressing tumors with an IND filing planned for 2026. It also manages multiple domestic and international isotope supply partnerships, invests in an internal cGMP facility set to be operational in 2026, and holds a discovery collaboration for additional miniprotein radioconjugate programs.
Aktis Oncology was founded in 2020 and booked $6 million in revenue for the 12 months ended September 30, 2025. It plans to list on the Nasdaq under the symbol AKTS. J.P. Morgan, BofA Securities, Leerink Partners, and TD Cowen are the joint bookrunners on the deal. It is expected to price the week of January 5, 2026.
