Cancer biotechnology company Aktis Oncology (AKTS.US) IPO prices at $16-18 per share, intending to raise $212 million.

Clinical stage biotechnology company Aktis Oncology Inc. (AKTS.US), focused on the development of radiopharmaceutical therapy, is planning to conduct its initial public offering (IPO) in the United States, with a fundraising target of up to $212 million. According to the prospectus filed by the company with the U.S. Securities and Exchange Commission on Monday, Aktis plans to issue 11.8 million shares at a price range of $16-18 per share. Based on the upper end of the issuance price range and the disclosed number of outstanding shares, the Boston-based company's valuation will be around $840 million. This proposed listing comes at a time when the beginning of 2026 may see a wave of intensive IPOs. Diabetes management company MiniMed Group (MMED.US) is planning to go public after being spun off from medical giant Medtronic Plc (MDT.US), while construction equipment rental company EquipmentShare.com Inc. (EQPT.US) and Arko Petroleum Corp. (APC.US) submitted IPO applications in December last year. The prospectus reveals that Aktis was founded in 2021 and is dedicated to developing technology using alpha-particle targeted therapy to treat solid tumors. In the nine months ending on September 30th of last year, the company had revenue of $4.6 million and a net loss of $48.6 million; while in the same period the previous year, revenue was $554,000 and a net loss of $31.9 million. Aktis has raised approximately $346 million from top life science institutional investors including MPM, Vida, EcoR1 Capital, and Blue Owl Capital. The prospectus also discloses that prior to the IPO, MPM affiliate entities held 26% of Aktis, Vida Ventures held 14%, EcoR1 held 11%, and Blue Owl held 7%. The offering is being led by J.P. Morgan, Bank of America Corp., Leerink Partners, and Toronto-Dominion Bank. The company plans to list on the Nasdaq Global Market under the ticker symbol AKTS.