Aktis Oncology (AKTS), a radiopharmaceutical drug developer that counts Eli Lilly (LLY) among its partners, filed SEC filings on Monday for its U.S. initial public offering, which could value it at up to $840M.
Boston, Massachusetts-headquartered Aktis (AKTS) intends to sell 11.775M of its shares between $16.00 and $18.00 apiece, seeking to raise about $212M and draw a valuation of as much as $840M at the top of the range.
The company, whose backers include MPM BioImpact and Vida Ventures, has an early-stage therapy called [225Ac]Ac-AKY-1189 as its lead investigational therapy. While Atkis (AKTS) has yet to turn a profit, it recorded $4.6M in revenue during the first nine months of 2025, thanks to a collaboration agreement it signed with Eli Lilly (LLY) in early 2024.
Aktis (AKTS) intends to use the net proceeds from the offering to advance an ongoing Phase 1b trial for [225Ac]Ac-AKY-1189 in urothelial cancer and other Nectin-4 expressing tumors. As for catalysts, the Initial data from the Part 1 dose escalation portion of the study is expected in Q1 2027.