Business: Clinical-stage developer of targeted radiopharmaceuticals using miniprotein radioconjugates; lead programs target Nectin-4 (AKY-1189) and B7-H3 (AKY-2519). Financials (FY2025): Collaboration revenue $6.497M; R&D expense $67.451M; G&A expense $13.730M; total operating expenses $81.181M; net loss $63.731M; accumulated deficit $156.6M. Liquidity: Cash, cash equivalents and marketable securities $226.8M at 12/31/2025; plus $335.3M net proceeds from IPO closed 1/12/2026; management projects cash runway into 2029. Shares: 53,403,173 shares of common stock and 1,872,829 shares of Class A common stock outstanding as of 3/10/2026; ticker AKTS on Nasdaq. Pipeline milestones: FDA cleared IND for [225Ac]Ac-AKY-1189 in April 2025; U.S. Phase 1b underway, first dose level completed and next level opened in Dec 2025; Fast Track granted Feb 2026; preliminary Part 1 dose-escalation data expected Q1 2027. B7-H3 program: FDA cleared INDs for [225Ac]Ac-AKY-2519 and [64Cu]Cu-AKY-2519 in March 2026; multi-site Phase 1b planned to initiate mid-2026; patient imaging/dosimetry readout expected mid-2026. Collaboration: Entered Eli Lilly agreement (5/16/2024) with $60.0M upfront cash and $10.0M equity; eligible for up to $525.0M in development/regulatory/launch milestones and up to $630.0M in sales milestones; tiered royalties up to 10%; $1.0M milestone achieved by 12/31/2025. Manufacturing & supply: Multiple domestic/international 225Ac isotope suppliers; hybrid internal/external model; internal cGMP facility expected fully operational in H2 2026; expanded Boston lab space by 625 RSF (4/14/2025). Operating outlook: Phase 1b for AKY-1189 to expand after dose escalation (UC, TNBC, basket cohort); potential pivotal Phase 2 for accelerated approval subject to data; continued discovery platform advancement.