Biotech company Akari Therapeutics’ (AKTX) shares, which have plunged about 35% over the past three months, trended upward on Wednesday afternoon. The stock started to rise after the company filed a provisional patent application in the U.S. to protect its latest novel cancer therapy.
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As of 2:24 p.m. EDT, the shares were up about 6% to $0.80.
The patent application seeks to protect Akari’s antibody drug conjugate (ADC) platform, its targeted cancer treatment system. The system uses antibodies to find cancer cells and delivers a drug called PH1 to disrupt how these cells edit their genetic instructions. This stops them from making proteins they need to grow and survive.
Akari said this new cancer therapy is different from others because instead of targeting a single mutation or cancer type, the treatment targets a basic process called alternative splicing. This process explains how cells edit genetic instructions to make different versions of proteins from the same gene.
Furthermore, Akari noted that the new patent, if granted, would strengthen its proprietary position. The company sees the new technology as a chance to become a leader in the race to develop therapies that target a wide range of cancers.
A Possible Change in Fortune?
Meanwhile, Akari’s recent update follows the biotech company’s report of a net loss of $3.7 million during the first quarter of 2025. However, the company had recorded a bigger $5.6 million net loss during the same period last year.
The new development also comes nearly a year after Akari Therapeutics finalized its merger with Peak Bio, a clinical-stage biopharma company. Akari also recently hired a new CEO to redirect the company’s focus towards developing its novel ADC platform.
What are the Best Biotech Stocks to Buy?
On TipRanks, Akari Therapeutics’ shares have a Strong Buy consensus recommendation based on three Buys assigned by Wall Street analysts over the past three months. The average AKTX price target of $4.53 also suggests an expansive 467% growth potential from its current price.
However, as the graph below shows, TipRanks’ Stock Comparison tool also provides insight into other biotech stocks investors can snap up right now.
