Akari Therapeutics Reports $1.9 Million Net Loss in Q2 2025, Down from $7.6 Million Last Year

Akari Therapeutics Plc reported a net loss of $1.9 million for the three months ended June 30, 2025, a significant decrease from the $7.6 million loss recorded in the same period of the previous year. For the six months ended June 30, 2025, the company’s net loss was $5.6 million, down from $13.1 million in the prior year. The reduction in losses is attributed to a substantial decrease in research and development expenses, which fell to $667,000 in Q2 2025 from $3.3 million in Q2 2024, and to $1.5 million for the first half of 2025 compared to $5.6 million for the same period in 2024. This decline reflects the company's strategic shift away from its legacy programs, including nomacopan, towards its antibody-drug conjugate (ADC) platform.

Total operating expenses for the second quarter of 2025 were $3.1 million, down from $7.4 million in the same quarter of 2024. The decrease was primarily driven by the suspension of the HSCT-TMA program and a reduction in merger-related costs, which were $0 in 2025 compared to $254,000 in 2024. General and administrative expenses increased slightly to $2.5 million in Q2 2025 from $2.2 million in Q2 2024, largely due to higher stock-based compensation.

As of June 30, 2025, Akari Therapeutics reported total assets of $50.9 million, a slight increase from $50.6 million at the end of 2024. The company’s cash and restricted cash totaled $2.8 million, which is not sufficient to fund operations for the next year, raising concerns about its ability to continue as a going concern. The accumulated deficit stood at $252.9 million, reflecting the ongoing financial challenges faced by the company.

In terms of strategic developments, Akari completed a merger with Peak Bio in November 2024, which has allowed it to focus on its ADC platform. The company is now prioritizing the development of its lead candidate, AKTX-101, a pre-clinical ADC targeting Trop2, and has suspended further internal development of its legacy programs. The company is also seeking strategic partnerships to advance its PHP-303 program externally.

Looking ahead, Akari anticipates that it will need to raise additional capital to fund its operations and continue its research and development activities. The company has entered into Note Purchase Agreements in August 2025 to issue unsecured promissory notes for an aggregate purchase price of $3 million, which it expects will provide some financial relief. However, the company acknowledges that its future capital requirements will depend on various factors, including the progress of its drug development activities and the overall market conditions for biotechnology financing.