Today we look at a small-cap concern I received a question on from a Biotech Forum member last week that I had not previously researched. It is being posted here as the concern is yet another 'Busted IPO.' What are this small-cap biotech's prospects going forward? Let us take a deeper dive on this underfollowed name.
Akari Therapeutics (AKTX) is a New York City-based clinical-stage biotech company that is dedicated to discovering and developing anti-complement and anti-inflammatory molecules as transformative treatments for a wide spectrum of severe and orphan autoimmune and inflammatory diseases. Akari’s pipeline is focused on inhibitors of early mediators of acute and chronic inflammation, specifically the complement system, the eicosanoid system and the bioamine system. The company is focused on those systems because they directly relate, in a causal manner, to the diseases targeted by Akari. Interestingly, all of Akari’s molecules are derived from ticks. The company articulates that 300 million years of natural selection have evolved ticks to produce inhibitors that bind tightly to key highly-conserved inflammatory mediators. These inhibitors are both well tolerated in humans and remain fully functional when a host is repeatedly exposed to the molecule. Akari Therapeutics currently has a market capitalization of approximately $75 and trades just under $6.50 a share currently.