Aktis Oncology Targets $181M-$209M in First Biotech IPO of 2026

Aktis Oncology plans to raise approximately $182M net proceeds by selling 11.8 million shares priced $16-$18, potentially up to $209.6M with underwriter option1 2

This is positioned as the first biotech IPO of 2026, signaling an anticipated rebound in the sector1 3

Proceeds will fund phase 1b trials:
$140M-$150M for Ac-AKY-1189 (Nectin-4 tumors) with data expected Q1 2027, and $70M-$80M for Ac-AKY-2519 (B7-H3 tumors)1

Company had $246.2M cash as of September 2025, expects runway to H1 2028 post-IPO1 6

Backed by Big Pharma like Eli Lilly, Bristol Myers Squibb, Merck; 76 employees in Boston and Durham1

Proposed Nasdaq ticker:
AKTS; underwriters include J.P. Morgan, BofA; market cap ~$793M-$860M at midpoint2 3

Sources:

1. https://www.fiercebiotech.com/biotech/aktis-oncology-aims-209m-windfall-1st-biotech-ipo-2026

2. https://www.iposcoop.com/the-ipo-buzz-aktis-oncology-sets-terms-for-200-million-ipo-1st-deal-of-2026/

3. https://www.renaissancecapital.com/IPO-Center/News/115899/US-IPO-Week-Ahead-Aktis-Oncology-set-to-open-2026-IPO-Market

6. https://pharmaphorum.com/news/aktis-oncology-files-much-expanded-ipo

Sources:

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