10-Q · May 11, 2026
Aktis Oncology's Q1 2026 financial results show a significant increase in collaboration revenue to $3.2 million, up from $1.4 million in the prior year. However, net loss widened to $18.3 million, compared to $15.0…
Earnings analysis · 10-Q
AKTS earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
Aktis reported $3.384 million of second-quarter collaboration revenue, up 111% year over year, while cash resources increased to $517.3 million and are expected to fund operations into 2029. However, net loss rose to…
Read full summary
Aktis reported $3.384 million of second-quarter collaboration revenue, up 111% year over year, while cash resources increased to $517.3 million and are expected to fund operations into 2029. However, net loss rose to $24.1 million as R&D and G&A expenses increased, and gross margin, operating margin, EPS, and free cash flow were not disclosed in the available filing extract. The company provided no quantitative financial guidance, but expects to begin the AKY-2519 BActinium-2 Phase 1b trial in the second half of 2026 and report preliminary data in 2027.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Segment
- Collaboration revenue: $3.384 million; up 111% versus the prior-year period
What stood out
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Collaboration revenue increased 111%
Second-quarter collaboration revenue was $3.384 million, an increase of 111% versus the prior-year period.
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Cash runway extends into 2029
Cash and cash equivalents increased to $517.3 million, which management expects to fund operations into 2029.
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Clinical pipeline advanced
Management expects to initiate the AKY-2519 BActinium-2 Phase 1b trial in the second half of 2026 and expects preliminary Phase 1b data in 2027.
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IPO strengthened liquidity
The company received $334.4 million of net IPO proceeds from the sale of 20,297,500 shares at $18.00 per share.
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Disclosure controls remain effective
Management concluded that disclosure controls and procedures were effective as of June 30, 2026, at the reasonable assurance level.
What to watch
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Net loss widened
Net loss increased to $24.1 million as research and development and general and administrative expenses increased, indicating continued operating cash-burn pressure despite the $517.3 million cash balance.
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Clinical spending remains elevated
The company continues to incur elevated clinical development costs ahead of the planned second-half 2026 Phase 1b initiation and preliminary data expected in 2027.
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No material risk-factor update
The filing states there have been no material changes to the risk factors in Part I, Item 1A of the Annual Report filed March 30, 2026; therefore, no new risk-factor mitigation is disclosed.
Management's outlook
No quantitative revenue or EPS guidance was provided. Management expects to initiate the AKY-2519 BActinium-2 Phase 1b trial in the second half of 2026 and expects preliminary Phase 1b data in 2027.
Earlier filings 2
10-K · March 30, 2026
Aktis Oncology is a clinical-stage radiopharmaceutical company advancing a proprietary miniprotein radioconjugate platform with lead programs [225Ac]Ac-AKY-1189 (Nectin-4) and [225Ac]Ac-AKY-2519 (B7‑H3). The company has…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.