Aktis Oncology IPO: Shares of the developer of radiopharmaceuticals for cancer have started trading
Preliminary trading in shares of US biotech company Aktis Oncology has started in the Freedom trading system for clients. The startup, in which pharma giant Eli Lilly and major industry investor MPM BioImpact have invested, develops drugs with radioactive isotopes to treat cancerous tumors. Later Friday, Aktis Oncology securities will appear on the Nasdaq exchange under the ticker AKTS.
Details
Aktis Oncology raised $318.6 million on the Nasdaq by offering 17.65 million shares at $18 a share in its IPO, the upper end of its stated price range. At that offering price, all of Aktis could be valued at about $945 million, Bloomberg calculated. Pharma giant Eli Lilly, known for its diabetes and obesity drugs Mounjaro and Zepbound, expressed interest in buying about $100 million worth of shares.
Aktis has become the first biotech company to go public in the US in 2026. In December 2025, the cancer drug developer planned to sell $100 million worth of shares, but in early January raised its IPO target size to about $210 million, Pharmaphorum notes. A few days later, on January 7, the startup increased the number of shares offered for offering by one and a half times - from 11.8 million to 17.7 million securities.
The IPO was underwritten by JPMorgan Chase, BofA Securities, Leerink Partners and TD Cowen.
What's interesting about the company
Aktis Oncology was founded in 2020 in Boston. According to Reuters, since its inception, the startup has raised $346 million in investments from MPM BioImpact, Vida Ventures, EcoR1 Capital, Blue Owl Capital and other funds. In addition, the company has entered into a $1.1 billion strategic partnership agreement with Eli Lilly, which includes a $60 million upfront payment and an undisclosed amount of equity investment, Pharmaphorum reported.
The Aktis radiotherapy technique consists of targeted delivery of actinium-225, a low penetrating alpha-particle radioisotope, into the patient's body. This destroys tumor cells while avoiding damage to healthy tissue. The technology also reduces the risk of tumor resistance by breaking the DNA double helix of cancer cells.
Aktis' lead anti-tumor drug, AKY-1189, is now in a 150-patient(Phase 1b) clinical trial in the United States. Preliminary results from the trial are expected in the first quarter of 2027. Tests of the second drug, AKY-2519, are expected to start in the first half of this year.
What analysts are saying about the stock
Freedom Broker analyst Alem Bektemirov estimated the value of Aktis Oncology for shareholders at $1.04 bln. Its target price of $19.8 per share implies a growth potential of another 10% from the offering level. The expert named disapproval of the drug, weak research results and competition in the market of anticancer drugs as the main risks for the startup.
Seeking Alpha analyst Donovan Jones, who specializes in IPOs, recommended buying Aktis Oncology shares at up to $17 per share. Aktis' financial performance is typical of an early-stage biotech: research and clinical trial costs are significant, and revenue is minimal. At the same time, the startup has already achieved positive results in animal trials of AKY-1189 and is collaborating with Eli Lilly to create other anti-cancer radiopharmaceuticals beyond its own development programs, the expert stated.
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Freedom clients will be able to get access to Aktis Oncology shares before the opening of the main exchange session. Trading will begin in the early pre-market format 2-3 hours before the opening of the US exchanges (from 15:30-16:30 Astana time). To participate click on ticker AKTS.US
This article was AI-translated and verified by a human editor
