On June 29, 2026 Akari Therapeutics, Plc (Nasdaq: AKTX), an oncology biotechnology company developing antibody drug conjugates (ADCs) with novel RNA splicing modulator payloads, reported the completion of its previously announced PIPE through the consolidation of the remaining scheduled investment closings into a single funding event. Combined with warrant exercises completed in May, the Company received approximately $8.3 million in total capital during Q2 2026.
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"We appreciate the decision of our investor group to complete the remaining funding earlier than originally scheduled, and for some of these investors to further increase their commitment through warrant exercises." said Abizer Gaslightwala, President and Chief Executive Officer of Akari Therapeutics. "This additional capital is expected to provide added financial flexibility as we advance AKTX-101 towards a Phase 1 first-in-human clinical trial while advancing our proprietary PH1 RNA splicing modulator ADC payload through potential strategic partnerships."
As previously announced, Akari entered into a securities purchase agreement with certain existing investors pursuant to which the Company agreed to sell and issue in a private placement an aggregate of 1,470,588 ADSs or prefunded warrants to purchase ADSs together with Series H warrants, Series I warrants and Series J warrants to each purchase 1,470,588 ADSs.
Under the purchase agreement, the $5.5 million gross proceeds of the offering were to be funded in three separate tranches, the first of which occurred at the end of May 2026, and the second and third closings of which were supposed to occur during June and July 2026, respectively. Subsequently, the parties agreed to consolidate the second and third closings into one final closing, which occurred on June 26, 2026. The issuance of the associated Series H, Series I and Series J warrants remains subject to shareholder approval at the Company’s Annual General Meeting scheduled for June 30, 2026.
Separately, during May 2026 the Company received approximately $2.8 million in additional proceeds from the exercise of warrants by some of the investors who participated in the PIPE.
(Press release, Akari Therapeutics, JUN 29, 2026, View Source [SID1234668989])