Aktis Oncology, a Phase 1 biotech developing targeted radiopharmaceuticals to treat solid tumors, raised $318 million by offering 17.7 million shares at $18, the high end of the range of $16 to $18. The company originally planned to offer 11.8 million shares at the same range before increasing the deal size on Wednesday. Partner Eli Lilly had indicated on $100 million worth of shares in the offering. At pricing, Aktis commands a fully diluted market cap of $1 billion.
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 plans to list on the Nasdaq under the symbol AKTS. J.P. Morgan, BofA Securities, Leerink Partners, and TD Cowen acted as joint bookrunners on the deal.
