Akari Therapeutics (AKTX) investor relations material

Company overview and business model

• Focuses on developing next-generation antibody-drug conjugates (ADCs) with proprietary cancer-killing payloads targeting solid tumors.

• Lead candidate AKTX-101 targets Trop2 and is in preclinical development, aiming for a Phase 1 trial by mid-2027.

• Pipeline includes additional ADC programs leveraging the PH1 payload for broader oncology applications.

• No commercial products or product revenue to date; operations are funded by capital raises.

Financial performance and metrics

• As of December 31, 2025, cash and cash equivalents were $5.2 million; pro forma post-offering would be $11.9 million if fully subscribed.

• Net tangible book value per ADS was $(12.46); post-offering, pro forma net tangible book value would be $(3.25) per ADS.

• Immediate dilution to new investors is estimated at $9.83 per ADS at the assumed offering price.

• Existing cash is expected to fund operations through mid-2027, excluding proceeds from this offering.

Use of proceeds and capital allocation

• Net proceeds (estimated at $6.7 million if fully subscribed) will fund research and development, working capital, and general corporate purposes.

• Management retains broad discretion over allocation and timing of use of funds.

• Proceeds may be significantly less than the maximum if the offering is not fully subscribed.