Akari Therapeutics is an early-stage biotech developing antibody-drug conjugates (ADCs) — therapies that pair a cancer-targeting antibody with a cell-killing payload — with a focus on a novel proprietary payload called PH1. All currently approved ADCs use payloads from one of two classes: microtubule inhibitors, which are ineffective against non-dividing cells and prone to resistance, and topoisomerase I inhibitors, which carry serious toxicity risks and FDA Black Box warnings. PH1 works differently, by disrupting the spliceosome — the cellular machinery that processes RNA — causing direct cell death and generating neoantigens that activate the immune system against tumors. Akari argues this dual mechanism, combined with resistance to multidrug efflux pumps, makes PH1 a differentiated payload class. Akari's lead candidate, AKTX-101, pairs PH1 with a Trop-2-targeting antibody; Trop-2 is a receptor expressed across many solid tumors including lung, breast, bladder, and pancreatic cancers. AKTX-101 is in preclinical development, with an IND filing and first-in-human trial targeted for late 2026/early 2027. Akari has a second ADC program, AKTX-102, targeting CEACAM5, at an earlier discovery stage. Akari has no approved products and no revenue. The company has six employees and outsources manufacturing. Akari's strategy is to either advance AKTX-101 through clinical development toward a partnership or approval, or to license the PH1 payload itself as a platform to larger pharma partners building their own ADC programs.