AKTS earnings analysis
What we found in AKTS's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Collaboration revenue increased 111%
- Second-quarter collaboration revenue was $3.384 million, an increase of 111% versus the prior-year period.
- Cash runway extends into 2029
- Cash and cash equivalents increased to $517.3 million, which management expects to fund operations into 2029.
- 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.
- 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.
- Disclosure controls remain effective
- Management concluded that disclosure controls and procedures were effective as of June 30, 2026, at the reasonable assurance level.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- 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.
- 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.
- 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.
What they reported.
What the company itself reported, taken out of the document.
- Segment
- Collaboration revenue: $3.384 million; up 111% versus the prior-year period
What they said about what is next.
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.
The filing reads about the same as the one before it.
What came before.
- 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…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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