Akari Therapeutics Plc · NASDAQ:AKTX
Akari Therapeutics — Investor Presentation (December 2025)
25 slides from Akari Therapeutics's investor presentation, December 2025
Slide 1: Advancing Antibody Drug Conjugates With Novel Immuno-Oncology Payloads
Advancing Antibody Drug Conjugates With Novel Immuno-Oncology Payloads
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes expressed or implied forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), about the Akari Therapeutics, Plc
Slide 3: Akari – A Radical Redesign to ADC Payloads
Akari – A Radical Redesign to ADC Payloads - Opportunity To Drive Significant Value Quickly 1 2 3 PAYLOAD ACCELERATING NEAR-TERM INNOVATION LEAD PROGRAM VALUE PH1 Payload - Targeting RNA Splicing AKTX-101 – Trop-2 ADC Near-Term Catalysts to Drive - Potent cytotoxicity - Trop-2 is a validated target
Slide 4: Akari's Value Today Offers Potential For Large Upside in 12-18 Months
Akari’s Value Today Offers The Potential For Large Upside in 12-18 Months Based On Comparable ADC Peers 700 Valuation / Market Cap At Stage ($M) 9x ~$670M Mkt Cap Today (4) 600 Post-Data 500 400 $M 300 >6x $285M Total Deal Size Post-Data 200 100 Akari Today 0 Pre-Clinical $44M Mkt Cap ~$75M Mkt Cap
Slide 5: Corporate Overview
Corporate Overview - PH1 ADC Payload Background - AKTX-101 Opportunity and Timeline 5
Slide 6: Approved ADC Payloads Have Clear Efficacy and Safety Limitations
Currently Approved ADC Payloads Such As Topo1 Inhibitors Have Clear Efficacy and Safety Limitations For Approved Trop-2 ADCs (Topo1 Inh. Payloads), 50% of patients relapse at 7 months or less; Patients experience significant side effects and have difficulty staying on therapy Efficacy - Median Dose
Slide 7: PH1 Payload/Linker Designed To Address Efficacy and Safety Limitations
Akari's PH1 Payload/Linker Designed To Address Efficacy and Safety Limitations With Current ADC Payloads Potent Single Agent Cytotoxicity Innate and Adaptive Immune Actions To - Cytotoxicity at single digit nanomolar levels Drive Greater and More Durable Efficacy - Macrophage repolarization to M1 An
Slide 8: PH1 Targets Cell's Splicing Machinery, Causing Cell Killing and Immune Activation
PH1 Targets Cell's Splicing Machinery, Causing Cell Killing (Cytotoxicity) and Immune Activation (Protein Neoantigens) DM4 Payload (microtubule inhibitor used on Elahere®) or PH1 Payload (splicing modulator) compared to DMSO control Spliced RNAs DM4 vs DMSO Spliced RNAs PH1 vs DMSO 15 15 Immune Acti
Slide 9: PH1 Cytotoxicity Superior To Trodelvy in Preclinical Gastric Cancer
PH1 Cytotoxicity Power Is Superior To Leading Trop-2 ADC Trodelvy® in Preclinical Gastric Cancer Model Higher Rate of Tumor Regression Compared to Trodelvy®, Even With Lower Dose and Drug/Antibody Ratio (DAR) Tumor Regression (TR) Method Agent at 5 months NCI-N87 cell xenograft model (150 days) Mice
Slide 10: PH1 Payload Uniquely Activates Innate and Adaptive Immune System
PH1 Payload Uniquely Activates Innate and Adaptive Immune System For Greater and Longer Efficacy(1) MC38-hHer2 Model Pro-Inflammatory Macrophages and Increase In Neutrophils vs Kadcyla® "Tras PH1" is Trastuzumab-PH1 ADC Expands B Cells and IgM Antibodies vs. Kadcyla® - IgM antibodies target cancer c
Slide 11: Lead Program AKTX-101 (Trop-2 PH1 ADC)
Lead Program AKTX-101 (Trop-2 PH1 ADC) 11
Slide 12: AKTX-101: Highly Differentiated Trop-2 ADC With Novel PH1 Payload
AKTX-101: Highly Differentiated Trop-2 ADC With Novel PH1 Payload Novel Antibody With Cell Killing Intact - Proprietary Trop-2 targeting antibody - Higher affinity than hRS7 (Trodelvy®) - Potent ADCC (Antibody Dependent Cellular Cytotoxicity) Reduced Off-Target Effects - AKTX-101 uses a proprietary
Slide 13: AKTX-101 Designed To Be Superior To Current Trop-2 ADCs
AKTX-101 Designed To Be Superior To Current Trop-2 ADCs Across Both Key Efficacy and Safety Attributes Key Measure Trodelvy® (leading Trop-2 ADC ) Akari AKTX-101* - 3 mg/kg superior in Gastric Cancer in NCI-N87 - 10mg/kg Tumor Potency cell xenograft model - DAR 7.6 - DAR 4.0 - Repolarization of Macr
Slide 14: Large Opportunity for AKTX-101 Across Multiple Solid Tumors
Large Opportunity for AKTX-101 Across Multiple Solid Tumors That Express Trop-2 Cancer Type New Annual Cases Annual Deaths Initial Target: Urothelial Cancer 85,000 17,000 Breast 319,750 42,680 Lung 226,650 124,730 Colorectal 154,270 52,900 Head and Neck 72,680 16,680 Pancreatic 67,440 51,980 Oral Ca
Slide 15: Initial Target Is Urothelial Cancer
AKTX-101: Initial Target Is Urothelial Cancer - A Large Patient Group With Significant Unmet Needs Most common type of bladder cancer United States2 accounting for 90% of bladder tumors1 ~85k New Cases Annually Current Treatments: - Platinum-based chemotherapy ~17k Deaths Annually - Enfortumab vedot
Slide 16: AKTX-101 Significant Activity In Aggressive Urothelial Cancer Preclinical Model
AKTX-101 (Trop-2 PH1) Has Demonstrated Significant Activity In Aggressive Urothelial Cancer Preclinical Model MB49-hTrop2 Bladder ModelMB49-h Model Trop-2Urothelial MB49-hTrop-2 UrothelialCancer Trop2 PH1 doses Cancer 3000 mPD-1 Last Day Tumor Volume (mm3) of Dosing Vehicle Murine anti-PD1 P value (
Slide 17: AKTX-101 Differentiated Safety Profile vs Current Trop-2 ADCs
AKTX-101 Has A Differentiated Safety Profile vs Current Trop-2 ADCs: No Neutropenia, Diarrhea, Mucositis, or Interstitial Lung Disease Observed Key Safety Warnings Of Approved Trop-2 ADCs - Boxed warning for neutropenia or bone marrow suppression (Trodelvy®) - GI toxicities (Trodelvy®) - Lung toxici
Slide 18: In Urothelial Cancer, 2nd Line Is an Attractive Strategic Entry Point
In Urothelial Cancer, 2nd Line Opportunity Is Valuable and Makes an Attractive Strategic Entry Point For AKTX-101 DIAGNOSIS: metastatic Urothelial Carcinoma (mUC) PREFERED 1ST LINE THERAPY (Standard of Care for All-Comers) + Enfortumab Vedotin + Pembrolizumab (Regardless of Cisplatin Eligibility) DI
Slide 19: First-in-Human Phase 1a Trial Design
First-in-Human Phase 1a Trial Explores Safety, Therapeutic Dose, And Identifies Efficacy Signals In Range of Solid Tumors Phase 1b Expansion Into Urothelial Cancer Drives Potential Accelerated Path Dose Escalation Phase 1a Recommended 1b Expansion In Urothelial 12-24 Patients Dose Potential for Othe
Slide 20: AKTX-101 Path to Clinic: ~12 Months to IND/CTA
AKTX-101 Path to Clinic: ~12 Months to IND/CTA and Start of FIH Trial; ~18 Months to Initial Safety/Efficacy Data Activity 2025 2026 2027 CDMO GLP Final CMC and IND / CTA Partner Tox Results Non-Clinical Enabling GLP Toxicology / Non-clinical studies and GMP manufacturing (Pre-Clinical) Initial Safe
Slide 21: Advancing Novel Payloads With AKTX-101 Through Multiple Value Inflections
Akari Is Advancing Novel Payloads With AKTX-101- Reaching Clinical Milestones and Multiple Value Inflections Through Next 18 Months Radical Redesign of ADC Payloads To Transform Category • PH1 Payload – Uniquely Targeting RNA Splicing • Potent cytotoxicity • Novel immune activation: innate and adapt
Slide 22: Advancing Antibody Drug Conjugates With Novel Immuno-Oncology Payloads
December 2025 Advancing Antibody Drug Conjugates With Corporate Overview Novel Immuno-Oncology Payloads NASDAQ: AKTX akaritx.com
Slide 23: Senior Leadership Team Brings Deep Oncology/Biotech Experience
Senior Leadership Team Brings Deep Oncology/Biotech Experience Abizer Gaslightwala, MS, MBA Satyajit Mitra, PhD President, Chief Executive Officer Executive Director, Head of Oncology 25 years in the development and commercialization of Scientist with 20 years in advancing novel oncology programs no
Slide 24: Akari PH1 Payload Driving Multiple ADC Programs
Akari PH1 Payload Driving Multiple ADC Programs AKTX-101 Trop-2 ADC Is Entering IND Enabling Work Now ADC Programs Indication Discovery Preclinical IND Enabling Highlights (All PH1 Payload Based) - Entering FIH (First-in-Human) Urothelial enabling studies AKTX-101 Cancer; Other - Phase 1 filing expe
Slide 25: Akari Cap Table And Pro-forma Cash After Recent Financing
Akari Cap Table And Pro-forma Cash After Recent Financing Capitalization (As of Oct. 16, 2025) Shares outstanding (ADS Equivalents) Common Stock 35,767,576 Warrants (WAEP $3.50) 32,913,041 Stock Options (WAEP $2.57) 7,415,492 (1), (2) Convertible Notes 916,059 Total Fully Diluted 76,950,079 Cash On
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