Radiopharmaceutical developer Aktis Oncology priced an upsized initial public offering that raised roughly $318 million in gross proceeds, with Eli Lilly taking a $100 million stake as part of the deal. Aktis began trading on Nasdaq under ticker AKTS after pricing 17.65 million shares at $18 apiece. The proceeds will fund late preclinical and Phase 1b programs, including Ac‑AKY‑1189, a miniprotein radioconjugate targeting Nectin‑4, and Ac‑AKY‑2519 aimed at B7‑H3 expressing tumors. Aktis said it plans to use about $140–150 million to advance the Phase 1b study of AKY‑1189 and $70–80 million toward the AKY‑2519 program. Market participants flagged the IPO as an early test of 2026’s public markets for biotech: the strong upsizing and strategic backing by Lilly signal continued investor interest in radiopharma platforms and imaging‑guided patient selection strategies.