Aktis Oncology Targets $212 Million in U.S. Initial Public Offering
Aktis Oncology Inc., a clinical-stage biotechnology firm specializing in radiopharmaceutical cancer treatments, has announced plans for a U.S. initial public offering (IPO) aiming to raise up to $212 million. The Boston-based company filed with the Securities and Exchange Commission on Monday, detailing its intention to list on the Nasdaq exchange under the ticker symbol “AKTS.”
Offering Details and Valuation
The proposed offering consists of 11.8 million shares, priced in a range of $16 to $18 per share. If the IPO prices at the high end of this range, Aktis Oncology would achieve a market valuation of approximately $840 million. This public offering follows significant private funding, with the company having already secured approximately $346 million from prominent life-sciences investors. Major shareholders include MPM with a 26% stake before the IPO, Vida Ventures with 14%, EcoR1 Capital with 11%, and Blue Owl Capital (NYSE : OWL) with 7%.
Key pre-IPO shareholders include:
- MPM: 26% stake
- Vida Ventures: 14% stake
- EcoR1 Capital: 11% stake
- Blue Owl Capital: 7% stake
The underwriting for the IPO is being managed by a syndicate of financial institutions, with JPMorgan Chase & Co., Bank of America Corp., Leerink Partners, and Toronto-Dominion Bank serving as lead underwriters.
Business Focus and Financials
Founded in 2021, Aktis Oncology is at the forefront of developing targeted therapies for solid tumors. The company’s innovative approach utilizes alpha-emitting radioactive agents designed to deliver potent, localized treatment.
A review of the company’s financials indicates a phase of intensive research and development. For the nine months ended September 30, Aktis reported a net loss of $48.6 million on revenue of $4.6 million. This compares to a net loss of $31.9 million on revenue of $554,000 for the same period in the prior year, reflecting increased operational and development activities as the company advances its clinical programs. The proceeds from the IPO are expected to further fuel its research pipeline and clinical trials.
For more information about Aktis Oncology please visit www.aktisoncology.com.
