{"url_path":"/sec/aktx/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-19","source_url":"https://www.sec.gov/Archives/edgar/data/1541157/0001493152-26-024446-index.html","accession_number":"0001493152-26-024446","cik":"0001541157","ticker":"AKTX","issuer_name":"Akari Therapeutics Plc","edgar_url":"https://www.sec.gov/Archives/edgar/data/1541157/0001493152-26-024446-index.html","primary_entity_key":"0001541157","primary_entity_name":"Akari Therapeutics Plc"},"word_count":1574,"has_tables":true,"body_markdown":"false\n--12-31\nQ1\n0001541157\n\n0001541157\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:AmericanDepositarySharesEachRepresenting80000OrdinarySharesParValue0.000000005PerShareMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:OrdinaryShares0.000000005ParValuePerShareMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\n2026-05-19\n\n0001541157\n\n2026-03-31\n\n0001541157\n\n2025-12-31\n\n0001541157\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nus-gaap:CommonStockMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:CapitalUnitsMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:AccumulatedOtherComprehensiveIncomeMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:RetainedEarningsMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:CommonStockMember\n\n2024-12-31\n\n0001541157\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2024-12-31\n\n0001541157\n\nus-gaap:CapitalUnitsMember\n\n2024-12-31\n\n0001541157\n\nus-gaap:AccumulatedOtherComprehensiveIncomeMember\n\n2024-12-31\n\n0001541157\n\nus-gaap:RetainedEarningsMember\n\n2024-12-31\n\n0001541157\n\n2024-12-31\n\n0001541157\n\nus-gaap:CommonStockMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nus-gaap:CapitalUnitsMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nus-gaap:AccumulatedOtherComprehensiveIncomeMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nus-gaap:RetainedEarningsMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nus-gaap:CommonStockMember\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nus-gaap:CapitalUnitsMember\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nus-gaap:AccumulatedOtherComprehensiveIncomeMember\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nus-gaap:RetainedEarningsMember\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nus-gaap:CommonStockMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:CapitalUnitsMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:AccumulatedOtherComprehensiveIncomeMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:RetainedEarningsMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:CommonStockMember\n\n2025-03-31\n\n0001541157\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2025-03-31\n\n0001541157\n\nus-gaap:CapitalUnitsMember\n\n2025-03-31\n\n0001541157\n\nus-gaap:AccumulatedOtherComprehensiveIncomeMember\n\n2025-03-31\n\n0001541157\n\nus-gaap:RetainedEarningsMember\n\n2025-03-31\n\n0001541157\n\n2025-03-31\n\n0001541157\n\n2025-12-14\n\n0001541157\n\nus-gaap:CommonStockMember\n\n2025-12-15\n\n0001541157\n\nus-gaap:DeferredCompensationShareBasedPaymentsMember\n\n2025-12-15\n2025-12-15\n\n0001541157\n\nus-gaap:CommonStockMember\nAKTX:ADSMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:CommonStockMember\nAKTX:ADSMember\nsrt:MaximumMember\n\n2026-03-31\n\n0001541157\n\nsrt:MinimumMember\n\n2025-11-24\n\n0001541157\n\nAKTX:GrossCarryingAmountMember\nAKTX:AKTX101Member\n\n2026-03-31\n\n0001541157\n\nAKTX:CumulativeImpairmentChargeMember\nAKTX:AKTX101Member\n\n2026-03-31\n\n0001541157\n\nAKTX:NetBookValueMember\nAKTX:AKTX101Member\n\n2026-03-31\n\n0001541157\n\nAKTX:GrossCarryingAmountMember\n\n2026-03-31\n\n0001541157\n\nAKTX:CumulativeImpairmentChargeMember\n\n2026-03-31\n\n0001541157\n\nAKTX:NetBookValueMember\n\n2026-03-31\n\n0001541157\n\nAKTX:GrossCarryingAmountMember\nAKTX:AKTX101Member\n\n2025-12-31\n\n0001541157\n\nAKTX:CumulativeImpairmentChargeMember\nAKTX:AKTX101Member\n\n2025-12-31\n\n0001541157\n\nAKTX:NetBookValueMember\nAKTX:AKTX101Member\n\n2025-12-31\n\n0001541157\n\nAKTX:GrossCarryingAmountMember\nAKTX:PHP303Member\n\n2025-12-31\n\n0001541157\n\nAKTX:CumulativeImpairmentChargeMember\nAKTX:PHP303Member\n\n2025-12-31\n\n0001541157\n\nAKTX:NetBookValueMember\nAKTX:PHP303Member\n\n2025-12-31\n\n0001541157\n\nAKTX:GrossCarryingAmountMember\n\n2025-12-31\n\n0001541157\n\nAKTX:CumulativeImpairmentChargeMember\n\n2025-12-31\n\n0001541157\n\nAKTX:NetBookValueMember\n\n2025-12-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyFourNotePayableMember\n\n2024-11-30\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyFourNotePayableMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyFourNotePayableMember\n\n2025-12-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyFourNotePayableMember\n\n2026-03-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreeConvertibleNotesMember\n\n2024-11-30\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreeConvertibleNotesAndWarrantsAmendmentMember\nAKTX:LetterAgreementMember\n\n2025-09-19\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreePeakBioConvertibleNoteholderWarrantsMember\nAKTX:LetterAgreementMember\n\n2025-09-19\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreeConvertibleNotesAndWarrantsAmendmentMember\n\n2025-09-19\n2025-09-19\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreePeakBioConvertibleNoteholderWarrantsMember\n\n2025-09-19\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreePeakBioConvertibleNoteholderWarrantsMember\n\n2025-09-19\n2025-09-19\n\n0001541157\n\n2024-11-30\n\n0001541157\n\nus-gaap:MeasurementInputSharePriceMember\n\n2024-11-30\n\n0001541157\n\nus-gaap:MeasurementInputPriceVolatilityMember\n\n2024-11-30\n\n0001541157\n\nus-gaap:MeasurementInputRiskFreeInterestRateMember\n\n2024-11-30\n\n0001541157\n\nus-gaap:MeasurementInputExpectedTermMember\n\n2024-11-30\n\n0001541157\n\n2024-11-01\n2024-11-30\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreeConvertibleNoteMember\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreeConvertibleNoteMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreeConvertibleNoteMember\n\n2026-03-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreeConvertibleNoteMember\n\n2025-12-31\n\n0001541157\n\ndei:AdrMember\nAKTX:OrdinarySharesMember\n\n2026-03-31\n\n0001541157\n\nAKTX:ELOCPurchaseAgreementMember\nAKTX:WhiteLionCapitalLLCMember\n\n2025-08-29\n2025-08-29\n\n0001541157\n\n2025-08-29\n\n0001541157\n\n2025-08-29\n2025-08-29\n\n0001541157\n\nAKTX:ELOCPurchaseAgreementMember\nus-gaap:CommonStockMember\n\n2025-08-29\n\n0001541157\n\nAKTX:ELOCPurchaseAgreementMember\n\n2025-08-29\n\n0001541157\n\nAKTX:ELOCPurchaseAgreementMember\n\n2025-08-29\n2025-08-29\n\n0001541157\n\nus-gaap:MeasurementInputSharePriceMember\nAKTX:ELOCPurchaseAgreementMember\n\n2025-08-29\n\n0001541157\n\nus-gaap:MeasurementInputPriceVolatilityMember\nAKTX:ELOCPurchaseAgreementMember\n\n2025-08-29\n\n0001541157\n\nus-gaap:MeasurementInputRiskFreeInterestRateMember\nAKTX:ELOCPurchaseAgreementMember\n\n2025-08-29\n\n0001541157\n\nus-gaap:MeasurementInputDiscountRateMember\nAKTX:ELOCPurchaseAgreementMember\n\n2025-08-29\n\n0001541157\n\nAKTX:OrdinarySharesMember\nus-gaap:PrivatePlacementMember\n\n2025-12-01\n2025-12-31\n\n0001541157\n\nAKTX:OrdinarySharesMember\n\n2025-12-01\n2025-12-31\n\n0001541157\n\nAKTX:SeriesGWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:ADSMember\nAKTX:SeriesGWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:SeriesGWarrantMember\n\n2025-12-31\n\n0001541157\n\nAKTX:ADSMember\n\n2025-12-31\n\n0001541157\n\n2025-12-01\n2025-12-31\n\n0001541157\n\nAKTX:SeriesGWarrantMember\n\n2026-03-02\n\n0001541157\n\nAKTX:TwentyThousandTwentyFiveRegisteredDirectOfferingMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:DecemberTwoThousandAndTwentyFiveInvestorPrefundedWarrantMember\n\n2026-03-31\n\n0001541157\n\nAKTX:DecemberTwoThousandAndTwentyFiveInvestorPrefundedWarrantMember\n\n2025-12-31\n\n0001541157\n\nAKTX:AprilTwoThousandAndTwentyFiveInvestorPrefundedWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:AprilTwoThousandAndTwentyFiveInvestorPrefundedWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:OctoberTwoThousandAndTwentyThreeInvestorPrefundedMember\n\n2026-03-31\n\n0001541157\n\nAKTX:OctoberTwoThousandAndTwentyThreeInvestorPrefundedMember\n\n2025-12-31\n\n0001541157\n\nAKTX:DecemberTwoThousandAndTwentyFiveSeriesGInvestorWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:DecemberTwoThousandAndTwentyFiveSeriesGInvestorWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:DecemberTwoThousandAndTwentyFiveNoteWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:DecemberTwoThousandAndTwentyFiveNoteWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:DecemberTwoThousandAndTwentyFivePlacementAgentWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:DecemberTwoThousandAndTwentyFivePlacementAgentWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreePeakBioWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreePeakBioWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:MarchTwoThousandAndTwentyFiveSeriesAInvestorWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:MarchTwoThousandAndTwentyFiveSeriesAInvestorWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:MarchTwoThousandAndTwentyFiveInvestorWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:MarchTwoThousandAndTwentyFiveInvestorWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:AprilTwoThousandAndTwentyFiveSeriesAInvestorWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:AprilTwoThousandAndTwentyFiveSeriesAInvestorWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:AprilTwoThousandAndTwentyFiveInvestorWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:AprilTwoThousandAndTwentyFiveInvestorWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:OctoberTwoThousandAndTwentyFiveSeriesEInvestorWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:OctoberTwoThousandAndTwentyFiveSeriesEInvestorWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:OctoberTwoThousandAndTwentyFiveSeriesFInvestorWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:OctoberTwoThousandAndTwentyFiveSeriesFInvestorWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:OctoberTwoThousandAndTwentyFivePlacementAgentWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:OctoberTwoThousandAndTwentyFivePlacementAgentWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:MayTwoThousandAndTwentyFourInvestorWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:MayTwoThousandAndTwentyFourInvestorWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:MarchTwoThousandAndTwentyFourPlacementAgentWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:MarchTwoThousandAndTwentyFourPlacementAgentWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:MayTwoThousandAndTwentyFourPlacementAgentWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:MayTwoThousandAndTwentyFourPlacementAgentWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:NovemberTwoThousandAndTwentyFourInvestorWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:NovemberTwoThousandAndTwentyFourInvestorWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:OctoberTwoThousandAndTwentyThreePlacementAgentWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:OctoberTwoThousandAndTwentyThreePlacementAgentWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:MarchTwoThousandAndTwentyTwoInvestorWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:MarchTwoThousandAndTwentyTwoInvestorWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:MarchTwoThousandAndTwentyTwoPlacementAgentWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:MarchTwoThousandAndTwentyTwoPlacementAgentWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:DecemberTwoThousandAndTwentyOneInvestorWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:DecemberTwoThousandAndTwentyOneInvestorWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:DecemberTwoThousandAndTwentyOnePlacementAgentWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:DecemberTwoThousandAndTwentyOnePlacementAgentWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:JulyTwoThousandAndTwentyOnePlacementAgentWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:JulyTwoThousandAndTwentyOnePlacementAgentWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreePeakBioWarrantsOneMember\n\n2026-03-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreePeakBioWarrantsOneMember\n\n2025-12-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBInvestorWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBInvestorWarrantsMember\n\n2025-12-31\n\n0001541157\n\nAKTX:NovemberTwoThousandTwentyTwoPeakBioWarrantsMember\n\n2026-03-31\n\n0001541157\n\nAKTX:NovemberTwoThousandTwentyTwoPeakBioWarrantsMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:WarrantMember\nsrt:ScenarioPreviouslyReportedMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:WarrantMember\nsrt:ScenarioPreviouslyReportedMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nus-gaap:WarrantMember\nsrt:ScenarioPreviouslyReportedMember\n\n2026-03-31\n\n0001541157\n\nAKTX:EquityIncentivePlan2014EquityIncentivePlan2023AndPeakBio2022LongTermIncentivePlanMember\n\n2025-12-31\n\n0001541157\n\nAKTX:EquityIncentivePlan2014EquityIncentivePlan2023AndPeakBio2022LongTermIncentivePlanMember\n\n2025-01-01\n2025-12-31\n\n0001541157\n\nAKTX:EquityIncentivePlan2014EquityIncentivePlan2023AndPeakBio2022LongTermIncentivePlanMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:EquityIncentivePlan2014EquityIncentivePlan2023AndPeakBio2022LongTermIncentivePlanMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:RestrictedStockUnitsRSUMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:RestrictedStockUnitsRSUMember\nus-gaap:CommonStockMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:RestrictedStockUnitsRSUMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nus-gaap:PerformanceSharesMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:UnvestedStockOptionMember\n\n2026-03-31\n\n0001541157\n\nAKTX:UnvestedStockOptionMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nus-gaap:RestrictedStockUnitsRSUMember\n\n2025-12-31\n\n0001541157\n\nAKTX:ResearchAndDevelopmentExpensesMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:ResearchAndDevelopmentExpensesMember\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nAKTX:SellingGeneralAndAdministrativeExpenseMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:SellingGeneralAndAdministrativeExpenseMember\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nus-gaap:FairValueMeasurementsRecurringMember\nAKTX:AprilTwoThousandTwentyThreePeakBioWarrantsMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:FairValueInputsLevel1Member\nus-gaap:FairValueMeasurementsRecurringMember\nAKTX:AprilTwoThousandTwentyThreePeakBioWarrantsMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:FairValueInputsLevel2Member\nus-gaap:FairValueMeasurementsRecurringMember\nAKTX:AprilTwoThousandTwentyThreePeakBioWarrantsMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:FairValueInputsLevel3Member\nus-gaap:FairValueMeasurementsRecurringMember\nAKTX:AprilTwoThousandTwentyThreePeakBioWarrantsMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:FairValueMeasurementsRecurringMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:FairValueInputsLevel1Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:FairValueInputsLevel2Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:FairValueInputsLevel3Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:FairValueMeasurementsRecurringMember\nAKTX:AprilTwoThousandTwentyThreePeakBioWarrantsMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:FairValueInputsLevel1Member\nus-gaap:FairValueMeasurementsRecurringMember\nAKTX:AprilTwoThousandTwentyThreePeakBioWarrantsMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:FairValueInputsLevel2Member\nus-gaap:FairValueMeasurementsRecurringMember\nAKTX:AprilTwoThousandTwentyThreePeakBioWarrantsMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:FairValueInputsLevel3Member\nus-gaap:FairValueMeasurementsRecurringMember\nAKTX:AprilTwoThousandTwentyThreePeakBioWarrantsMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:FairValueMeasurementsRecurringMember\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:FairValueInputsLevel1Member\nus-gaap:FairValueMeasurementsRecurringMember\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:FairValueInputsLevel2Member\nus-gaap:FairValueMeasurementsRecurringMember\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:FairValueInputsLevel3Member\nus-gaap:FairValueMeasurementsRecurringMember\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:FairValueMeasurementsRecurringMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:FairValueInputsLevel1Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:FairValueInputsLevel2Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:FairValueInputsLevel3Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2025-12-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\nus-gaap:FairValueInputsLevel3Member\n\n2024-12-31\n\n0001541157\n\nAKTX:NovemberTwoThousandTwentyTwoPeakBioWarrantsMember\nus-gaap:FairValueInputsLevel3Member\n\n2024-12-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreePeakBioWarrantsMember\nus-gaap:FairValueInputsLevel3Member\n\n2024-12-31\n\n0001541157\n\nAKTX:TotalWarrantLiabilityMember\nus-gaap:FairValueInputsLevel3Member\n\n2024-12-31\n\n0001541157\n\nAKTX:DerivativeLiabilityMember\nus-gaap:FairValueInputsLevel3Member\n\n2024-12-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\nus-gaap:FairValueInputsLevel3Member\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nAKTX:NovemberTwoThousandTwentyTwoPeakBioWarrantsMember\nus-gaap:FairValueInputsLevel3Member\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreePeakBioWarrantsMember\nus-gaap:FairValueInputsLevel3Member\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nAKTX:TotalWarrantLiabilityMember\nus-gaap:FairValueInputsLevel3Member\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nAKTX:DerivativeLiabilityMember\nus-gaap:FairValueInputsLevel3Member\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\nus-gaap:FairValueInputsLevel3Member\n\n2025-03-31\n\n0001541157\n\nAKTX:NovemberTwoThousandTwentyTwoPeakBioWarrantsMember\nus-gaap:FairValueInputsLevel3Member\n\n2025-03-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreePeakBioWarrantsMember\nus-gaap:FairValueInputsLevel3Member\n\n2025-03-31\n\n0001541157\n\nAKTX:TotalWarrantLiabilityMember\nus-gaap:FairValueInputsLevel3Member\n\n2025-03-31\n\n0001541157\n\nAKTX:DerivativeLiabilityMember\nus-gaap:FairValueInputsLevel3Member\n\n2025-03-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\nus-gaap:FairValueInputsLevel3Member\n\n2025-12-31\n\n0001541157\n\nAKTX:NovemberTwoThousandTwentyTwoPeakBioWarrantsMember\nus-gaap:FairValueInputsLevel3Member\n\n2025-12-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreePeakBioWarrantsMember\nus-gaap:FairValueInputsLevel3Member\n\n2025-12-31\n\n0001541157\n\nAKTX:TotalWarrantLiabilityMember\nus-gaap:FairValueInputsLevel3Member\n\n2025-12-31\n\n0001541157\n\nAKTX:DerivativeLiabilityMember\nus-gaap:FairValueInputsLevel3Member\n\n2025-12-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\nus-gaap:FairValueInputsLevel3Member\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:NovemberTwoThousandTwentyTwoPeakBioWarrantsMember\nus-gaap:FairValueInputsLevel3Member\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreePeakBioWarrantsMember\nus-gaap:FairValueInputsLevel3Member\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:TotalWarrantLiabilityMember\nus-gaap:FairValueInputsLevel3Member\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:DerivativeLiabilityMember\nus-gaap:FairValueInputsLevel3Member\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\nus-gaap:FairValueInputsLevel3Member\n\n2026-03-31\n\n0001541157\n\nAKTX:NovemberTwoThousandTwentyTwoPeakBioWarrantsMember\nus-gaap:FairValueInputsLevel3Member\n\n2026-03-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreePeakBioWarrantsMember\nus-gaap:FairValueInputsLevel3Member\n\n2026-03-31\n\n0001541157\n\nAKTX:TotalWarrantLiabilityMember\nus-gaap:FairValueInputsLevel3Member\n\n2026-03-31\n\n0001541157\n\nAKTX:DerivativeLiabilityMember\nus-gaap:FairValueInputsLevel3Member\n\n2026-03-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\nus-gaap:MeasurementInputSharePriceMember\n\n2026-03-31\n\n0001541157\n\nAKTX:NovemberTwoThousandTwentyTwoWarrantsMember\nus-gaap:MeasurementInputSharePriceMember\n\n2026-03-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreeWarrantsMember\nus-gaap:MeasurementInputSharePriceMember\n\n2026-03-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\nus-gaap:MeasurementInputSharePriceMember\n\n2025-12-31\n\n0001541157\n\nAKTX:NovemberTwoThousandTwentyTwoWarrantsMember\nus-gaap:MeasurementInputSharePriceMember\n\n2025-12-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreeWarrantsMember\nus-gaap:MeasurementInputSharePriceMember\n\n2025-12-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\nus-gaap:MeasurementInputExercisePriceMember\n\n2026-03-31\n\n0001541157\n\nAKTX:NovemberTwoThousandTwentyTwoWarrantsMember\nus-gaap:MeasurementInputExercisePriceMember\n\n2026-03-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreeWarrantsMember\nus-gaap:MeasurementInputExercisePriceMember\n\n2026-03-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\nus-gaap:MeasurementInputExercisePriceMember\n\n2025-12-31\n\n0001541157\n\nAKTX:NovemberTwoThousandTwentyTwoWarrantsMember\nus-gaap:MeasurementInputExercisePriceMember\n\n2025-12-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreeWarrantsMember\nus-gaap:MeasurementInputExercisePriceMember\n\n2025-12-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\nus-gaap:MeasurementInputExpectedTermMember\n\n2026-03-31\n\n0001541157\n\nAKTX:NovemberTwoThousandTwentyTwoWarrantsMember\nus-gaap:MeasurementInputExpectedTermMember\n\n2026-03-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreeWarrantsMember\nus-gaap:MeasurementInputExpectedTermMember\n\n2026-03-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\nus-gaap:MeasurementInputExpectedTermMember\n\n2025-12-31\n\n0001541157\n\nAKTX:NovemberTwoThousandTwentyTwoWarrantsMember\nus-gaap:MeasurementInputExpectedTermMember\n\n2025-12-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreeWarrantsMember\nus-gaap:MeasurementInputExpectedTermMember\n\n2025-12-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\nus-gaap:MeasurementInputPriceVolatilityMember\n\n2026-03-31\n\n0001541157\n\nAKTX:NovemberTwoThousandTwentyTwoWarrantsMember\nus-gaap:MeasurementInputPriceVolatilityMember\n\n2026-03-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreeWarrantsMember\nus-gaap:MeasurementInputPriceVolatilityMember\n\n2026-03-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\nus-gaap:MeasurementInputPriceVolatilityMember\n\n2025-12-31\n\n0001541157\n\nAKTX:NovemberTwoThousandTwentyTwoWarrantsMember\nus-gaap:MeasurementInputPriceVolatilityMember\n\n2025-12-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreeWarrantsMember\nus-gaap:MeasurementInputPriceVolatilityMember\n\n2025-12-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\nus-gaap:MeasurementInputRiskFreeInterestRateMember\n\n2026-03-31\n\n0001541157\n\nAKTX:NovemberTwoThousandTwentyTwoWarrantsMember\nus-gaap:MeasurementInputRiskFreeInterestRateMember\n\n2026-03-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreeWarrantsMember\nus-gaap:MeasurementInputRiskFreeInterestRateMember\n\n2026-03-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\nus-gaap:MeasurementInputRiskFreeInterestRateMember\n\n2025-12-31\n\n0001541157\n\nAKTX:NovemberTwoThousandTwentyTwoWarrantsMember\nus-gaap:MeasurementInputRiskFreeInterestRateMember\n\n2025-12-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreeWarrantsMember\nus-gaap:MeasurementInputRiskFreeInterestRateMember\n\n2025-12-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\nus-gaap:MeasurementInputExpectedDividendRateMember\n\n2026-03-31\n\n0001541157\n\nAKTX:NovemberTwoThousandTwentyTwoWarrantsMember\nus-gaap:MeasurementInputExpectedDividendRateMember\n\n2026-03-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreeWarrantsMember\nus-gaap:MeasurementInputExpectedDividendRateMember\n\n2026-03-31\n\n0001541157\n\nAKTX:SeptemberTwoThousandTwentyTwoSeriesBMember\nus-gaap:MeasurementInputExpectedDividendRateMember\n\n2025-12-31\n\n0001541157\n\nAKTX:NovemberTwoThousandTwentyTwoWarrantsMember\nus-gaap:MeasurementInputExpectedDividendRateMember\n\n2025-12-31\n\n0001541157\n\nAKTX:AprilTwoThousandTwentyThreeWarrantsMember\nus-gaap:MeasurementInputExpectedDividendRateMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:MeasurementInputSharePriceMember\nAKTX:ELOCPurchaseAgreementMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:MeasurementInputPriceVolatilityMember\nAKTX:ELOCPurchaseAgreementMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:MeasurementInputRiskFreeInterestRateMember\nAKTX:ELOCPurchaseAgreementMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:MeasurementInputDiscountRateMember\nAKTX:ELOCPurchaseAgreementMember\n\n2025-12-31\n\n0001541157\n\nus-gaap:MeasurementInputSharePriceMember\nAKTX:ELOCPurchaseAgreementMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:MeasurementInputPriceVolatilityMember\nAKTX:ELOCPurchaseAgreementMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:MeasurementInputRiskFreeInterestRateMember\nAKTX:ELOCPurchaseAgreementMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:MeasurementInputDiscountRateMember\nAKTX:ELOCPurchaseAgreementMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:FairValueInputsLevel3Member\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nus-gaap:EmployeeStockOptionMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nus-gaap:EmployeeStockOptionMember\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nus-gaap:RestrictedStockUnitsRSUMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nus-gaap:RestrictedStockUnitsRSUMember\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nus-gaap:WarrantMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nus-gaap:WarrantMember\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nus-gaap:ConvertibleDebtSecuritiesMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nus-gaap:ConvertibleDebtSecuritiesMember\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nAKTX:ImpairmentLossOnOtherIntangibleAssetsMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:ExpectedCurrentYearLossAndHistoricalLossMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:ExpectedCurrentYearLossAndHistoricalLossMember\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nAKTX:ADCPreClinicalDevelopmentMember\nAKTX:SignificantSegmentExpenseCategoryMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:ADCPreClinicalDevelopmentMember\nAKTX:SignificantSegmentExpenseCategoryMember\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nAKTX:HSCTTMAAK901ProgramMember\nAKTX:SignificantSegmentExpenseCategoryMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:HSCTTMAAK901ProgramMember\nAKTX:SignificantSegmentExpenseCategoryMember\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nAKTX:ChemistryManufacturingAndControlMember\nAKTX:SignificantSegmentExpenseCategoryMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:ChemistryManufacturingAndControlMember\nAKTX:SignificantSegmentExpenseCategoryMember\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nAKTX:OtherExternalDevelopmentExpenseIncomeMember\nAKTX:SignificantSegmentExpenseCategoryMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:OtherExternalDevelopmentExpenseIncomeMember\nAKTX:SignificantSegmentExpenseCategoryMember\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nAKTX:InternalAndOtherResearchAndDevelopmentExpenseMember\nAKTX:SignificantSegmentExpenseCategoryMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:InternalAndOtherResearchAndDevelopmentExpenseMember\nAKTX:SignificantSegmentExpenseCategoryMember\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nAKTX:SignificantSegmentExpenseCategoryMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:SignificantSegmentExpenseCategoryMember\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nus-gaap:RelatedPartyMember\n\n2026-03-31\n\n0001541157\n\nus-gaap:RelatedPartyMember\n\n2025-12-31\n\n0001541157\n\nsrt:MaximumMember\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nsrt:MaximumMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nus-gaap:WithdrawalFromMultiemployerDefinedBenefitPlanMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nus-gaap:WithdrawalFromMultiemployerDefinedBenefitPlanMember\nus-gaap:ForeignPlanMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nsrt:MaximumMember\nus-gaap:WithdrawalFromMultiemployerDefinedBenefitPlanMember\n\n2025-01-01\n2025-03-31\n\n0001541157\n\nsrt:MaximumMember\nus-gaap:WithdrawalFromMultiemployerDefinedBenefitPlanMember\n\n2026-01-01\n2026-03-31\n\n0001541157\n\nAKTX:BayerAcquisitionAgreementMember\n\n2026-03-31\n\n0001541157\n\nsrt:MaximumMember\n\n2025-05-31\n\n0001541157\n\nAKTX:SettlementAgreementMember\n\n2026-01-01\n2026-03-31\n\niso4217:USD\n\nxbrli:shares\n\niso4217:USD\n\nxbrli:shares\n\nxbrli:pure\n\nAKTX:Integer\n\n \n\n \n\n \n\n**UNITED\nSTATES**\n\n**SECURITIES\nAND EXCHANGE COMMISSION**\n\n**Washington,\nD.C. 20549**\n\n** **\n\n \n\n** **\n\n**FORM\n10-Q**\n\n \n\n \n\n \n\n**(Mark\nOne)**\n\n \n\n**☒**\n**QUARTERLY\nREPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n**For\nthe quarterly period ended March 31, 2026**\n\n** **\n\n**OR**\n\n \n\n**☐**\n\n**TRANSITION\nREPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n**For\nthe transition period from ____________ to ____________**\n\n** **\n\n**Commission\nFile Number 001-36288**\n\n** **\n\n \n\n \n\n**Akari\nTherapeutics, Plc**\n\n**(Exact\nname of registrant as specified in its charter)**\n\n** **\n\n \n\n \n\n**England\nand Wales**\n \n**98-1034922**\n\n**(State\nor other jurisdiction of**\n\n**incorporation\nor organization)**\n\n \n\n**(I.R.S.\nEmployer**\n\n**Identification\nNo.)**\n\n \n \n \n\n**401\nEast Jackson Street, Suite 3300**\n\n**Tampa,\nFL**\n\n \n**33602**\n\n**(Address\nof principal executive offices)**\n \n**(Zip\nCode)**\n\n \n\n**Registrant’s\ntelephone number, including area code: (929) 274-7510**\n\n** **\n\n \n\n \n\nSecurities\nregistered pursuant to Section 12(b) of the Act:\n\n \n\n**Title\nof each class**\n \n\n**Trading**\n\n**Symbol(s)**\n\n \n**Name\nof each exchange on which registered**\n\n**American\nDepositary Shares, each representing 80,000 Ordinary Shares, par value $0.000000005 per share**\n \n**AKTX**\n \n**The\nNasdaq Capital Market**\n\n**Ordinary\nShares, $0.000000005 par value per share***\n \nAKTX\n \n**The\nNasdaq Capital Market**\n\n \n\n*\nTrading, but only in connection with the American Depositary Shares.\n\n \n\nIndicate\nby check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2)\nhas been subject to such filing requirements for the past 90 days. Yes ☒ No\n☐\n\n \n\nIndicate\nby check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule\n405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant\nwas required to submit such files). Yes ☒ No\n☐\n\n \n\nIndicate\nby check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company,\nor an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller\nreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge\naccelerated filer\n☐\nAccelerated\nfiler\n☐\n\n \n \n \n \n\nNon-accelerated\nfiler\n☒\nSmaller\nreporting company\n☒\n\n \n \n \n \n\nEmerging\ngrowth company\n☐\n \n \n\n \n\nIf\nan emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying\nwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\n \n\nIndicate\nby check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES ☐ NO ☒\n\n \n\nThe\nnumber of shares of Registrant’s Ordinary Shares outstanding as of May 19, 2026, was 91,567,009,533.\n\n \n\n \n\n \n\n \n\n \n\n \n\n**TABLE\nOF CONTENTS**\n\n \n\n \n \n**Page**\n\n**PART\nI**\n[**FINANCIAL INFORMATION**](#ak_001)\n1"}