Aktis Oncology (AKTS), a radiopharmaceutical drug developer backed by pharma giants such as Eli Lilly (LLY), has filed its preliminary regulatory filings with the Securities and Exchange Commission for an initial public offering in the U.S.
Boston, Massachusetts-headquartered Aktis (AKTS), whose lead product candidate, [225Ac]Ac-AKY-1189, is currently undergoing early-stage development, raised $175M from a Series B funding round led by RA Capital Management last year.
The financing, backed by Bristol Myers Squibb (BMY), Eli Lilly (LLY), and Merck (MRK), among others, implied a purchase price of $4.00 apiece for 43.75M shares of Atkis’ (AKTS) preferred stock.
According to an S-1 filing with the SEC on Friday, the clinical-stage biotech has recorded significant losses since its founding in 2020. Its upcoming catalysts include initial results from a Part-1 dose escalation portion of a Phase 1b trial for [225Ac]Ac-AKY-1189 in urothelial cancer and other Nectin-4 expressing tumors.
Atkis (AKTS) recorded $4.6M and $1.5M in revenue during the first nine months of 2025 and throughout last year, respectively, thanks to a collaboration agreement it signed with Eli Lilly (LLY) in early 2024 for cancer-targeting radiopharmaceutical drugs.
As part of the deal, the Indiana-based pharma giant agreed to hand the company $60M upfront in addition to potential milestone payments worth up to $1.1B.