Company Spotlight: Akari Therapeutics

(RTTNews) - Akari Therapeutics PLC (AKTX) has returned an impressive 107% so far this year compared to a modest 8.60% rise in the iShares NASDAQ Biotech Index ETF (IBB) during the same period.

Akari is a clinical-stage biopharmaceutical company with a portfolio of anti-inflammatory compounds for orphan conditions.

The Company's lead drug candidate is Coversin, a next-generation C5 inhibitor, and is derived from the saliva of the Ornithodoros moubata tick.

Coversin's potential is being explored in the indications of paroxysmal nocturnal haemoglobinuria (PNH), atypical Hemolytic Uremic Syndrome (aHUS), and Guillain Barré syndrome (GBS).

Coversin is under two phase II clinical trials in the indication of paroxysmal nocturnal haemoglobinuria.

Paroxysmal nocturnal haemoglobinuria, or PNH, is an ultra-rare blood disorder in which the red blood cells break apart prematurely (hemolysis).

The first phase II trial is evaluating Coversin in patients with paroxysmal nocturnal haemoglobinuria (PNH) who have never received a complement blocking therapy. The second phase II trial is evaluating Coversin in patients with PNH and C5 polymorphisms resistant to Alexion Pharmaceutical Inc.'s (ALXN) approved drug Soliris (eculizumab).

Soliris is the first and only approved C5 inhibitor to treat patients with PNH and atypical hemolytic uremic syndrome.

Unlike Soliris, which is given intravenously, Coversin can be administered subcutaneously. As you may know, subcutaneous administration is more convenient than IV administration.

Interim results from the first phase II trial of Coversin are expected to be released on April 24, 2017.

The other milestones to watch out for during this year are:

-- Initiation of a phase II trial of Coversin in the indication of Guillain Barré syndrome (GBS) in the first half of 2017.

Guillain-Barré syndrome (GBS), (pronounced ghee-yan bar-ray), is a disorder in which the body's immune system attacks part of the peripheral nervous system.

-- Initiation of a phase II trial of Coversin in the indication of atypical Hemolytic Uremic Syndrome (aHUS) in the first half of 2017.

aHUS is an ultra-rare, life-threatening, chronic genetic disease that can progressively damage vital organs, leading to stroke, heart attack, kidney failure, and death.

-- Initiation of a phase III trial of Coversin in the indication of paroxysmal nocturnal haemoglobinuria in the second half of 2017.

The other compounds in Akari's pipeline are Coversin Long Acting and Dual action C5+LTB4.

A phase I trial of Coversin LA and a phase II trial of dual action C5 + LTB4 are expected to be initiated in the second half of this year.

Key Financials:

The Company ended the year 2016 with zero debt and cash of $44 million. It's American Depository Shares outstanding were 11.8 million. (Data sourced from the company's latest presentation).

AKTX closed Thursday's trading at $14.60, up 24.79%.