Akari Therapeutics (AKTX) stock jumped 120% in extended trading on Thursday after the company released preclinical data showing its lead drug candidate, AKTX-101, may have a meaningful edge in treating hard-to-treat pancreatic cancers.
The drug, an antibody-drug conjugate (ADC) that targets the Trop2 receptor, was tested in combination with adagrasib, a KRAS inhibitor. The results were presented as an ASCO abstract.
In pancreatic cancer cell lines with KRAS G12C and G12D mutations, AKTX-101 combined with adagrasib produced synergistic cell killing. That means the two drugs together worked better than either alone.
What made the data stand out is what didn’t happen with rival drugs. First-in-class topoisomerase I-targeting TROP2 ADCs showed the opposite effect — antagonism — when paired with adagrasib. AKTX-101’s synergy appears tied to its novel RNA spliceosome-modulating payload, known as PH1.
Akari says PH1 works by targeting pre-mRNA transcripts for degradation, including those carrying the KRAS mutations that drive these cancers. That’s a different mechanism than most other TROP2 ADCs on the market.
KRAS-mutant pancreatic cancer has long been one of oncology’s tougher targets. The data here supports the idea that targeting RNA splicing could be a viable path — and that AKTX-101’s payload gives it a distinct profile from its competitors.
The company said the findings expand the potential opportunity for AKTX-101 beyond its current Phase 1 development plan.
Akari has started IND-enabling studies and is targeting a Phase 1 first-in-human trial by mid-2027.
The company also has a second candidate, AKTX-102, an ADC targeting CEACAM5, a validated tumor antigen. That pipeline is still at an earlier stage.
Akari is a tiny company. Its market cap sits at just $5.77 million, firmly in small-cap — or more accurately, micro-cap — territory. That helps explain the scale of the move; it doesn’t take much volume to shift the price.
Four insider buys were reported over the past 12 months, with no insider sells. That’s a modest signal of internal confidence.
The GF Score for AKTX is just 22 out of 100, with profitability rated at 1/10. The company is pre-revenue and currently unprofitable, which is typical for clinical-stage biotech.
Despite Thursday’s after-hours pop, AKTX is still down roughly 55% year-to-date. The stock had been in a sustained decline before this data dropped.
The Phase 1 trial target date of mid-2027 means investors are still a good while away from any human efficacy data.
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