Aktis Oncology (AKTS) Q3 2026 earnings summary

Executive summary

• Three U.S. Phase 1b trials are underway across Nectin-4 and B7-H3; backfill cohorts opened in NECTINIUM-2 and BActinium-1.

• Preliminary AKY-1189 data are expected in Q1 2027 and AKY-2519 data in 2027.

• Q3 collaboration revenue was $3.9M; net loss was $29.9M as clinical development spending increased.

• $492.9M in cash, cash equivalents and marketable securities at quarter-end; current plans project funding into 2029.

Financial highlights

• Q3 collaboration revenue was $3.9M vs. $1.6M; 9M revenue was $10.5M vs. $4.6M, primarily from Eli Lilly.

• Q3 operating expenses were $38.7M vs. $19.8M, including R&D of $32.1M and G&A of $6.5M; operating loss was $34.7M vs. $18.2M.

• Q3 net loss was $29.9M vs. $15.5M; 9M net loss was $72.4M vs. $48.6M.

• 9M operating expenses rose to $96.9M from $61.9M, including R&D of $77.4M and G&A of $19.4M.

• 9M interest income was $14.0M vs. $8.8M, primarily reflecting higher average cash and marketable securities balances.

Outlook and guidance

• Current operating plans indicate cash, cash equivalents and marketable securities can fund operations into 2029; the estimate depends on assumptions that may change.

• Preliminary AKY-1189 Phase 1b data are expected in Q1 2027; preliminary AKY-2519 BActinium-1 data are expected in 2027.

• Two early pipeline programs are tracking toward development candidate nomination and IND-enabling activities beginning in Q1 2027.

• An in-house GMP facility is expected to support clinical-trial drug supply in H1 2027; R&D and G&A expenses are expected to rise as programs and operations expand.