Aktis Oncology priced an upsized initial public offering that raised $318 million, marking the first biopharma IPO of 2026. The Boston-based radiopharmaceutical developer sold 17.65 million shares at $18 apiece, with major support from Eli Lilly, which purchased a sizable tranche. Public filings show proceeds are earmarked for clinical development of two miniprotein radioconjugates targeting Nectin‑4 and B7‑H3. Investors bid the offering to the top of the range; shares opened sharply higher on Nasdaq trading under ticker AKTS. Aktis will use proceeds to fund a US phase 1b study for AKY‑1189 and to launch a phase 1b for AKY‑2519, while continuing its discovery partnership with Lilly. The IPO outcome is being watched as a potential bellwether for renewed appetite in biopharma public markets.