AKTX Stock: Insider Activity, Filings & Research

Akari Therapeutics, Plc (AKTX) — Drillr’s hub for AKTX insider activity, SEC filings, earnings signals and AI research. Over the trailing 3 months, AKTX insiders filed 2 open-market buys and 0 sales (SEC Form 4).

Sentiment

100/100

Buys (3m)

Sells (3m)

Net (3m)

$2.2K

Insiders buying

Insider trades by month Buys Sells

Apr

Sep

Jun

Aug

Dec

Mar

Context3-month price +60.6%Institutions mixed (13F)

Date	Insider	Type	Shares	Price
Mar 16, 2026	Neal James Rdirector	Buy	3,093	$0.39
Mar 16, 2026	Neal James Rdirector	Buy	2,473	$0.39
Dec 18, 2025	Huh Hoyoungdirector, 10 percent owner:	Buy	618,658	$0.39
Dec 18, 2025	Farag Kameel D.officer: Interim CFO	Buy	24,745	$0.39
Dec 18, 2025	Patel Samir Rashmikantdirector, 10 percent owner:	Buy	618,658	$0.39
Dec 18, 2025	Patel Samir Rashmikantdirector, 10 percent owner:	Buy	231,997	$0.39
Dec 18, 2025	Gaslightwala Abizerdirector, officer: CEO	Buy	773,323	$0.39
Dec 18, 2025	Gaslightwala Abizerdirector, officer: CEO	Buy	309,328	—
Dec 18, 2025	Bazemore Robert Bdirector	Buy	123,731	$0.39
Dec 18, 2025	Bazemore Robert Bdirector	Buy	30,932	—
Dec 18, 2025	Patel Sandip Idirector	Buy	247,462	—
Dec 18, 2025	Huh Hoyoungdirector, 10 percent owner:	Buy	3,093,293	$0.39
Dec 18, 2025	Prudo-Chlebosz Raymonddirector	Buy	618,658	—
Dec 18, 2025	Prudo-Chlebosz Raymonddirector	Buy	386,661	$0.39
Dec 18, 2025	Patel Sandip Idirector	Buy	154,664	$0.39

Source: AKTX SEC Form 4 filings, latest Mar 16, 2026. For informational purposes only — not investment advice.

Overview

Akari Therapeutics, Plc (NASDAQ:AKTX) is a clinical-stage biopharmaceutical company founded in 2014 and based in London, United Kingdom. The company specializes in developing advanced therapies targeting autoimmune and inflammatory diseases through complement system inhibition. Since its IPO in January 2014, Akari has focused its research and development efforts on creating treatments for rare and serious conditions where the complement system - a key component of the immune system - plays a destructive role. The company is currently in clinical development phases with its lead drug candidate and has not yet generated commercial revenue.

Business

Akari Therapeutics operates in the biotechnology sector, specifically focusing on developing therapies for autoimmune and inflammatory diseases. The company's approach centers on inhibiting the complement system, which is part of the body's immune defense mechanism that can sometimes become overactive and cause tissue damage. The company's primary focus is nomacopan, a second-generation complement inhibitor designed to prevent both inflammatory and prothrombotic (blood clotting) activities. The complement system consists of proteins that normally help fight infections, but in certain diseases, these proteins attack healthy tissues instead. Nomacopan works by blocking specific complement proteins to reduce this harmful immune response. Akari is developing nomacopan for several rare but serious conditions: Paroxysmal Nocturnal Hemoglobinuria (PNH), a rare blood disorder where red blood cells are destroyed by the complement system; Guillain-Barré Syndrome, an autoimmune condition affecting the peripheral nervous system; Hematopoietic Stem Cell Transplant-Associated Thrombotic Microangiopathy, a life-threatening complication following bone marrow transplants; and Bullous Pemphigoid, an autoimmune blistering skin disease. As a clinical-stage company, Akari currently operates as a single business segment focused entirely on drug development, with no diversified revenue streams or commercial products yet available.

Revenue model

Akari Therapeutics currently generates no revenue, as is typical for clinical-stage biotechnology companies that have not yet brought products to market. The company's future business model will likely center on product sales of nomacopan once it receives regulatory approval, with pricing strategies reflecting the rare disease premium common in orphan drug markets. The company's paying customers will primarily be hospitals, specialty clinics, and healthcare systems treating patients with the targeted rare diseases. Given the orphan drug nature of these conditions, Akari may also pursue partnerships with larger pharmaceutical companies for distribution and commercialization, which could involve licensing agreements or milestone payments. Several factors will significantly impact Akari's future margins. Regulatory approval success represents the most critical factor - failure to achieve FDA or EMA approval would eliminate revenue potential entirely. Manufacturing costs for biologics like nomacopan tend to be substantial, requiring specialized facilities and quality controls. Competition from existing treatments like Soliris (eculizumab) for PNH could pressure pricing, though nomacopan's dual complement inhibition may provide differentiation. Market access and reimbursement negotiations with payers will be crucial, as these rare disease treatments typically carry high price points that require demonstrating clear clinical and economic value. Clinical trial costs continue to represent a significant cash outflow until commercialization, with larger Phase III studies requiring substantial investment.

Competitive moat

Akari Therapeutics currently operates with a relatively narrow competitive moat, typical of clinical-stage biotechnology companies. The company's primary potential advantage lies in nomacopan's dual mechanism of action, which inhibits both C5 and LTB4 pathways, potentially offering superior efficacy compared to single-pathway inhibitors like Soliris. However, this moat remains largely theoretical until proven through successful clinical trials and regulatory approval. The complement inhibition space faces significant competition from established players like Alexion Pharmaceuticals (now part of AstraZeneca) with their approved PNH treatments, and other companies developing next-generation complement inhibitors. Intellectual property protection provides some defensive positioning, though the strength and breadth of Akari's patent portfolio relative to competitors is not extensively detailed in public filings. The company's focus on multiple rare disease indications could provide diversification benefits, but also spreads development resources across several programs. The most significant competitive threats come from larger pharmaceutical companies with substantially greater financial resources to conduct clinical trials and navigate regulatory processes. Additionally, biosimilar competition could emerge once existing complement inhibitors lose patent protection. The relatively small market sizes for these rare diseases, while providing some protection from generic competition, also limit the total addressable market and potential returns on investment.

Risks & safety

Akari Therapeutics presents significant financial risk with a very narrow margin of safety typical of clinical-stage biotechnology companies. • Cash burn and solvency risk: The company burned $12.6 million in operating cash flow during 2024, with only $2.6 million in cash remaining as of Q1 2025, creating immediate liquidity concerns • Current ratio of 0.16 indicates severe short-term liquidity pressure, with current liabilities of $20.9 million far exceeding current assets of $3.3 million • Negative working capital of approximately $17.6 million suggests potential difficulty meeting near-term obligations • Total liabilities of $29.2 million against total assets of $51.0 million, though much of the asset base may consist of intangible development costs • Quarterly net losses averaging $3-4 million suggest the company will require additional financing within months • No revenue generation makes the company entirely dependent on external financing to continue operations • Debt-to-equity ratio of 8.5% indicates relatively low traditional debt burden, though substantial current liabilities create similar pressure • Enterprise value metrics are distorted by the pre-revenue nature of the business and negative cash flows

Recent development

Based on available financial data, Akari Therapeutics has maintained consistent focus on advancing nomacopan through clinical development over recent years. The company's quarterly cash burn has remained relatively stable at $2-4 million per quarter, suggesting disciplined spending on clinical programs rather than major strategic pivots or expansion into new therapeutic areas. The most significant development appears to be the company's progression through various clinical trial phases for nomacopan across multiple indications. The consistent negative cash flows and absence of revenue indicate the company has remained focused on its core clinical development strategy rather than pursuing partnerships or licensing deals that might provide interim revenue. Financial statements suggest the company may have undertaken financing activities, as evidenced by changes in total assets and liabilities structure between reporting periods, likely reflecting equity raises or other funding mechanisms to support ongoing operations. The increase in total assets from $5.1 million in Q2 2024 to $50.6 million by year-end suggests significant capital infusion, though this may reflect accounting treatment of clinical trial assets or intellectual property valuations rather than cash raises.

AKTX company profile · for informational purposes only — not investment advice.

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