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Akari Therapeutics Plc (Nasdaq: AKTX) is a clinical-stage biopharmaceutical company developing innovative treatments for autoimmune and inflammatory diseases. The company's lead asset, nomacopan, is a bispecific recombinant inhibitor targeting complement C5 and leukotriene B4 (LTB4) pathways. This dual-action therapeutic is currently being investigated in a Phase 3 trial for severe pediatric hematopoietic stem cell transplant-related thrombotic microangiopathy (HSCT-TMA), a rare and serious complication with high mortality rates. Nomacopan has received Orphan Drug, Fast Track, and Rare Pediatric Disease designations from the FDA, as well as orphan drug designation from the European Commission.
Akari's pipeline also includes PAS-nomacopan, a long-acting version of the drug designed for the treatment of geographic atrophy (GA), a leading cause of blindness. PAS-nomacopan is in the final stages of pre-clinical development and aims to offer extended dosing intervals with potentially improved safety and efficacy compared to existing therapies.
The company's strategic focus recently expanded through a definitive merger agreement with Peak Bio Inc. (OTC: PKBO), expected to close in Q3 2024. This merger will create a robust pipeline featuring both Akari's autoimmune and inflammatory disease therapeutics and Peak Bio's antibody-drug conjugate (ADC) platform technology for cancer treatment.
Financially, Akari is focused on operational efficiency and value creation. The company has taken significant measures to reduce costs and secure funding, including a successful private placement raising approximately $7.6 million. Dr. Samir R. Patel, an experienced life sciences entrepreneur, has recently been appointed Interim CEO to lead the company through this transformative phase. Dr. Patel's compensation is solely equity-based, aligning his interests with those of the shareholders.
For more information, visit akaritx.com.
Akari Therapeutics, Plc (Nasdaq: AKTX) announced it has been granted an additional 180-day compliance period by Nasdaq, extending the deadline to regain compliance with the minimum bid price requirement until October 23, 2023. To maintain its listing, Akari must keep a minimum closing bid price of $1.00 per share for at least ten consecutive business days. There is no immediate impact on the company’s Nasdaq listing, and its American Depository Shares will continue to be traded. Akari is focused on developing advanced therapies for autoimmune diseases, with lead investigational asset nomacopan undergoing Phase 3 trials for pediatric HSCT-TMA. The company holds Orphan Drug and Fast Track designations from the FDA for this treatment.
On April 14, 2023, Akari Therapeutics (Nasdaq: AKTX) announced a virtual key opinion leader event scheduled for May 22, 2023, at 2 PM ET. This session will delve into the treatment landscape for geographic atrophy (GA) and the potential of long-acting PAS-nomacopan, an investigational therapy aimed at addressing significant unmet needs in this area. The event will feature Dr. Elias Reichel from Tufts University School of Medicine, who will discuss the development program for PAS-nomacopan. Following the presentations, a live Q&A session will be held. Interested individuals can register for the event through the provided link, and a replay will be available on the Akari website.
Akari Therapeutics is focused on developing advanced therapies for autoimmune and inflammatory diseases, with nomacopan as its lead asset. The company has received various designations for nomacopan related to its pediatric healthcare applications.
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