Business Description
Aktis Oncology Inc. is a clinical-stage biotechnology company based in Boston, Massachusetts, that develops targeted radiopharmaceuticals for the treatment of solid tumors. The company utilizes a proprietary miniprotein radioconjugate platform designed to deliver alpha-emitting radioisotopes directly to cancer cells while limiting exposure to healthy tissue.
Financial Statements
In thousands, USD
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Total Revenues | 6,497 | 1,487 | — | — |
| Gross Profit | 6,497 | 1,487 | — | — |
| Selling, General & Administrative Expenses | 13,730 | 12,583 | 8,875 | 5,462 |
| Research & Development Expenses | 67,451 | 40,954 | 25,919 | 14,302 |
| Operating Profit | (74,684) | (52,050) | (34,794) | (19,764) |
| Interest and Investment Income | 11,009 | 8,103 | 5,377 | 1,647 |
| Non-Operating Income | (56) | (33) | 776 | 188 |
| Total Non-Operating Income | 10,953 | 8,070 | 6,153 | 1,835 |
| Income Before Provision for Income Taxes | (63,731) | (43,980) | (28,641) | (17,929) |
| Consolidated Net Income | (63,731) | (43,980) | (28,641) | (17,929) |
| Net Income Attributable to Common Shareholders | (63,731) | (43,980) | (28,641) | (17,929) |
| Basic EPS | -78.34 | -62.46 | -46.56 | -34.66 |
| Diluted EPS | -78.34 | -62.46 | -46.56 | -34.66 |
| Basic Weighted Average Shares Outstanding | 814 | 704 | 615 | 517 |
| Diluted Weighted Average Shares Outstanding | 814 | 704 | 615 | 517 |
| Shares Outstanding | 915 | 781 | 650 | 569 |
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Cash and Cash Equivalents | 37,784 | 37,159 | 29,513 | 128,597 |
| Short-Term Investments | 189,003 | 260,009 | 68,349 | — |
| Total Cash and Cash Equivalents | 226,787 | 297,168 | 97,862 | 128,597 |
| Other Current Assets | 3,523 | 3,685 | 2,342 | 3,884 |
| Total Current Assets | 230,310 | 300,853 | 100,204 | 132,481 |
| Net Property, Plant & Equipment | 27,246 | 20,871 | 20,924 | 4,865 |
| Other Long-Term Assets | 7,329 | 4,457 | 1,227 | 976 |
| Total Assets | 264,885 | 326,181 | 122,355 | 138,322 |
| Accounts Payable | 1,737 | 1,918 | 957 | 490 |
| Accrued Expenses | 9,522 | 6,331 | 3,752 | 3,931 |
| Current Portion of Leases | 1,315 | 1,296 | 1,528 | 854 |
| Unearned Revenue | 18,662 | 9,277 | — | — |
| Total Current Liabilities | 31,236 | 18,822 | 6,237 | 5,275 |
| Leases | 10,233 | 10,714 | 11,874 | 921 |
| Other Long-Term Liabilities | 36,156 | 51,039 | 500 | 1,306 |
| Total Long-Term Liabilities | 46,389 | 61,753 | 12,374 | 2,227 |
| Total Liabilities | 77,625 | 80,575 | 18,611 | 7,502 |
| Additional Paid-in Capital | 10,373 | 4,906 | 2,465 | 982 |
| Accumulated Other Comprehensive Income | 42 | 124 | 82 | — |
| Retained Earnings | (156,564) | (92,833) | (48,853) | (20,212) |
| Total Common Shareholders' Equity | (146,149) | (87,803) | (46,306) | (19,230) |
| Minority Interests and Other | 333,409 | 333,409 | 150,050 | 150,050 |
| Total Shareholders' Equity | 187,260 | 245,606 | 103,744 | 130,820 |
| Total Liabilities and Shareholders' Equity | 264,885 | 326,181 | 122,355 | 138,322 |
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Net Income | (63,731) | (43,980) | (28,641) | (17,929) |
| Depreciation & Amortization | 2,329 | 1,575 | 1,120 | 445 |
| Share-Based Compensation Expense | 5,131 | 2,260 | 1,478 | 698 |
| Other Adjustments | (4,624) | (4,073) | (3,946) | (200) |
| Changes in Accounts Payable | (44) | 360 | 659 | (1) |
| Changes in Accrued Expenses | 2,200 | 2,152 | (227) | 2,537 |
| Changes in Unearned Revenue | (5,498) | 58,513 | — | — |
| Changes in Other Operating Activities | 110 | (2,045) | (447) | (3,675) |
| Cash from Operating Activities | (64,127) | 14,762 | (30,004) | (18,125) |
| Capital Expenditure | (9,584) | (2,862) | (3,764) | (2,307) |
| Proceeds from Sale of Property, Plant & Equipment | — | — | 57 | — |
| Purchases of Investments | (193,868) | (288,396) | (145,806) | — |
| Proceeds from Sale of Investments | 269,416 | 100,858 | 80,685 | — |
| Cash from Investing Activities | 65,964 | (190,400) | (68,828) | (2,307) |
| Issuance of Common Shares | 336 | 179 | — | — |
| Net Issuance / (Repurchases) of Common Shares | 336 | 179 | — | — |
| Issuance of Preferred Shares | — | 185,000 | — | 120,135 |
| Net Issuance / (Repurchases) of Preferred Shares | — | 185,000 | — | 120,135 |
| Other Financing Activities | (1,548) | (1,895) | — | (151) |
| Cash from Financing Activities | (1,212) | 183,284 | — | 119,984 |
| Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash | 625 | 7,646 | (98,832) | 99,552 |
Key Metrics & Ratios
| Metric | Value |
|---|---|
| Return on Equity | -29.4% |
| Return on Invested Capital | -238.9% |
| Current Ratio | 7.37x |
| Free Cash Flow Margin | -1134.5% |
Margins
Gross margin
100.0%
Operating margin
-1149.5%
Net margin
-980.9%
Quarterly Trend
| Quarter | Revenue | YoY growth | Operating margin | Operating income |
|---|---|---|---|---|
| Q2 2026 | $3M | +111.4% | -854.0% | $-29M |
| Q1 2026 | $3M | +123.0% | -703.6% | $-23M |
| Q4 2025 | $2M | +100.4% | -929.1% | $-17M |
| Q3 2025 | $2M | — | -1152.8% | $-18M |
| Q2 2025 | $2M | — | -1309.4% | $-21M |
| Q1 2025 | $1M | — | -1253.8% | $-18M |
| Q4 2024 | $1M | — | -1675.8% | $-16M |
| Q4 2023 | — | — | — | $-10M |
More on Aktis Oncology, Inc.
Figures compiled from public company filings.
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