Welcome to our dedicated page for Akari Therapeutics Plc news (Ticker: AKTX), a resource for investors and traders seeking the latest updates and insights on Akari Therapeutics Plc stock.
Akari Therapeutics Plc (AKTX) is a clinical-stage biopharmaceutical company advancing innovative treatments for rare autoimmune and inflammatory diseases. This page provides investors and industry observers with timely updates on the company’s clinical developments, regulatory milestones, and strategic initiatives.
Access comprehensive coverage of AKTX’s progress, including press releases on trial results, FDA designations, and partnership announcements. Our curated news collection focuses on developments related to coversin, nomacopan, and other pipeline candidates targeting complement-mediated disorders.
Key updates include progress in treating conditions like HSCT-TMA and Geographic Atrophy, manufacturing partnerships, and scientific presentations. All content is verified from primary sources to ensure accuracy for investment research and market analysis.
Bookmark this page for centralized access to AKTX’s latest developments in complement system therapeutics. Check regularly for objective updates on clinical advancements and corporate announcements relevant to biopharmaceutical investors.
Akari Therapeutics announces the completion of its merger with Peak Bio, creating a biotechnology company focused on developing Antibody Drug Conjugates and therapies for autoimmune and inflammatory diseases. The merger includes a $3.2m PIPE financing and a $50m term sheet for an Equity Line of Credit. The company sold 1,713,402 unregistered American Depository Shares at $1.70 per unit (non-insiders) and $2.385 (insiders), along with Series C Warrants. The warrants have a 3-year term and an exercise price of $2.26 per ADS. The ELOC with White Lion Capital provides the right to sell up to $50m of newly issued ADSs over 3 years.
Akari Therapeutics (Nasdaq: AKTX) announces shareholder approval for its merger with Peak Bio, Inc. At the General Meeting held on November 7, 2024, approximately 99% of shareholders voted in favor of the merger-related share issuance. The transaction is expected to close on November 13, 2024. The combined entity will focus on Antibody Drug Conjugate (ADC) and Geography Atrophy (GA) platforms. Upon merger completion, the company expects to resolve its Nasdaq shareholder deficiency issue, eliminating current listing risks.
Akari Therapeutics (Nasdaq: AKTX) has announced the effectiveness of its Form S-4, filed on September 13, 2024, related to the merger with Peak Bio. The SEC declared the form effective on October 11, 2024, allowing Akari to schedule the General Meeting for November 7, 2024, at 9:00 a.m. Eastern Time in London.
Samir Patel, MD, Akari's Interim President & CEO, expressed excitement about the merger's progress. He highlighted the company's plans to focus on Antibody Drug Conjugate (ADC) and Geography Atrophy (GA) platforms post-merger. Patel also noted that, pending shareholder approval, the merger could help Akari address its Nasdaq shareholder deficiency issue.
Akari Therapeutics (Nasdaq: AKTX) has appointed Rob Bazemore, an experienced life sciences leader, to its Board of Directors effective September 17, 2024. Mr. Bazemore brings over 30 years of experience in developing and commercializing novel medicines, including roles as President, CEO, and COO in various pharmaceutical and biotech companies.
His expertise spans multiple therapeutic areas, including immunology, autoimmune diseases, and oncology. Notably, Mr. Bazemore served as President and CEO of Epizyme, Inc. from 2015 to 2021, where he led the development and launch of TAZVERIK® for Follicular Lymphoma and Sarcoma. He also held leadership positions at Synageva BioPharma Corp., Johnson & Johnson, and Merck & Co. Inc.
Akari's Chairman, Ray Prudo, M.D., expressed confidence that Mr. Bazemore's strategic and management expertise will be invaluable in advancing the company's portfolio, particularly its lead asset, nomacopan, and Peak's innovative antibody-drug-conjugate (ADC) platform in oncology.
Akari Therapeutics (NASDAQ: AKTX) reported Q2 2024 financial results and recent highlights. Key points:
- Appointed Samir R. Patel as Interim CEO
- Prioritized PAS-nomacopan for Geographic Atrophy
- Received positive FDA Pre-IND feedback for PAS-nomacopan
- Raised $7.6 million in upsized financing
- Issued $1 million in convertible notes to existing investors
Financial results: Cash of $4.2 million as of June 30, 2024. Q2 R&D expenses increased to $3.3 million, while G&A expenses decreased to $2.2 million. Net loss widened to $7.6 million for Q2 2024. The company plans to file an IND for PAS-nomacopan in Geographic Atrophy in 2025 and is progressing with its merger with Peak Bio.
Akari Therapeutics (AKTX) has received positive Pre-IND feedback from the FDA for PAS-nomacopan, a long-acting bispecific inhibitor of C5 and LTB4 for treating geographic atrophy (GA). The feedback provides clarity on preclinical plans, drug manufacturing, and Phase 1 clinical strategy. PAS-nomacopan potentially offers longer dose intervals between intravitreal injections and reduced choroidal neovascularization (CNV) risk compared to current complement inhibitors. A GMP-compliant batch of drug substance has been manufactured by Wacker Biotech GmbH for IND-enabling studies and initial clinical development. Akari plans to submit the IND in 2025, paving the way for Phase 1 clinical studies in GA treatment.
Akari Therapeutics announced that interim CEO Samir R. Patel, M.D., will receive compensation solely through equity, aligning his interests directly with shareholders. Dr. Patel has increased his ownership in Akari to 14.2% with a $1.25 million investment in a recent private placement. This move underscores Dr. Patel's commitment to shareholder value and transparency. The company is focused on advancing its lead compound, nomacopan, and completing a merger with Peak Bio. Dr. Patel has a strong background in the life sciences sector and has held various leadership roles. Related details are available in the Form 8-K and Form 4 filed on June 4, 2024.
Akari Therapeutics (Nasdaq: AKTX) announced a successful initial closing of a private placement financing round, raising approximately $7.6 million in gross proceeds. The financing garnered strong support from both new and existing investors, highlighted by Akari's Chairman, Dr. Ray Prudo, and Interim President and CEO, Dr. Samir R. Patel. The funds will support Akari's strategic initiatives, including their upcoming merger with Peak Bio, expected to close in Q3 2024. The financing involved the sale of 4,029,754 unregistered ADSs and Series C Warrants to purchase an equal number of ADSs at $1.885 per unit. The warrants have a three-year term and cashless exercise provisions, with different exercise prices for company executives and other investors.
Akari Therapeutics (Nasdaq: AKTX), a late-stage biotechnology firm, reported its first-quarter 2024 financial results, announcing a net loss of $5.6 million and highlighting recent activities. The company entered into a definitive merger agreement with Peak Bio, anticipated to close in Q3 2024. The combined entity will prioritize Peak's ADC cancer therapeutic platform and Akari's PAS-nomacopan for Geographic Atrophy. A restructuring plan has commenced, reducing the workforce by 67% to cut operating costs. Akari issued $1 million in unsecured convertible notes to secure operational capital. Research and development expenses rose to $2.3 million, while general and administrative costs increased to $3.7 million, compared to the same period in 2023.
Summary: Akari Therapeutics, Plc announced the appointment of Samir R. Patel, M.D. as interim CEO, replacing Rachelle Jacques. Dr. Patel aims to complete the merger with Peak Bio, prioritize the company's portfolio, and advance its lead compound, nomacopan. The leadership changes are expected to bring cost savings through reduced clinical trial and infrastructure expenses.
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