Akari Therapeutics Plc (AKTX) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 19, 2026

Risk Assessment Details

Potential Dilution: 125.68% of current shares
Recent Dilution: 228.84% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
92B
Potential Supply
120B
Additional shares possible
Splits
None
Past 2 years

Summary

AKTX currently has 91.6B outstanding shares. with significant dilution risk as 115B authorized shares could dilute existing holders by 125.7%. The company has significantly diluted shareholders by 228.84% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 19, 2026

10-Q filing | 91567.0M shares outstanding

92B 120B
May 08, 2026

S-1 filing: This S-1 filing describes a best-efforts offering by Akari Therapeutics, PLC of American Depositary Shares (ADSs), Series H warrants, Series I warrants, and pre-funded warrants, subject to completion.

91B 120B
Mar 30, 2026

10-K filing | 91567.0M shares outstanding

92B 120B
Jan 23, 2026

S-1 filing: This prospectus relates to the offer and sale, by the selling stockholders, of up to 34,680,906 American Depositary Shares representing 69,361,812,000 Ordinary Shares.

92B 120B
Dec 17, 2025

8-K filing: Akari Therapeutics, Plc entered into a securities purchase agreement for a registered direct offering and concurrent private placement, issuing ADSs and warrants to institutional investors, directors, and officers, and also exchanged unsecured promissory notes for pre-funded warrants and note exchange warrants. ($5.97M proceeds)

71B 46B
Nov 17, 2025

S-1 filing: This is an S-1 filing for an offering of ordinary shares by selling shareholders, including shares issuable upon the exercise of Series E Warrants, Series F Warrants, and Placement Agent Warrants.

71B 46B
Oct 16, 2025

8-K filing: Akari Therapeutics, Plc entered into a securities purchase agreement for the issuance and sale of 3,125,000 American Depositary Shares (ADSs) along with warrants in a registered direct offering, expecting gross proceeds of approximately $2.5 million. ($2.5M proceeds)

63B 33B
Aug 13, 2025

10-Q filing | 62943.9M shares outstanding

63B 33B
Jul 29, 2025

S-3 filing: Akari Therapeutics, PLC may offer to sell ordinary shares, represented by American Depositary Shares, or ADSs, warrants, and units, with the aggregate initial offering price not to exceed $75 million.

64B 33B
May 14, 2025

10-Q filing | 64352.7M shares outstanding

64B 33B
May 06, 2025

S-3 filing: S-3 filing on 2025-05-06 registers additional shares for potential issuance due to stock splits, dividends, recapitalizations, or other capital adjustments, pursuant to Rule 416(a).

58B 33B
Apr 15, 2025

10-K filing | 57753.0M shares outstanding

58B 33B
Nov 19, 2024

10-Q filing | 49517.1M shares outstanding

50B 33B
Nov 14, 2024

8-K filing: Akari Therapeutics, Plc entered into a securities purchase agreement to sell and issue 1,713,402 unregistered American Depository Shares and Series D Warrants in a private placement for gross proceeds of $3.2 million, with different pricing for certain investors. ($6.4M proceeds)

24B 33B
Sep 06, 2024

S-3 filing: The Registration Statement covers the resale by certain selling securityholders of up to an aggregate of 10,782,431 American Depositary Shares of the Company representing up to an aggregate of 21,564,862,000 ordinary shares, par value US$0.0001 per share of the Company.

24B 33B
Aug 19, 2024

10-Q filing | 23906.9M shares outstanding

24B 11B
Jun 04, 2024

8-K filing: Akari Therapeutics, Plc entered into a Purchase Agreement for a private placement, closing on May 31, 2024, involving the sale of American Depository Shares (ADSs) and warrants. ($0.01M proceeds)

16B 11B
May 15, 2024

10-Q filing | 15847.4M shares outstanding

16B 11B
Mar 29, 2024

10-K filing | 15847.4M shares outstanding

16B 11B
Jan 02, 2024

8-K filing: Akari Therapeutics, Plc closed a private placement on December 29, 2023, selling 947,868 American Depository Shares (ADSs), each representing 2,000 ordinary shares, at $2.11 per ADS to existing investors, including the Company's Chairman and a Director. ($2.0M proceeds)

11B 11B
Oct 20, 2023

POS AM filing: This prospectus relates to the resale, by the selling shareholders identified in this prospectus, of up to an aggregate of 136,184,200 ordinary shares represented by 68,092 American Depository Shares, consisting of (1) 118,421,300 ordinary shares represented by 59,211 ADSs, issuable upon the exercise of warrants issued in a private placement in July 2019, or the Private Placement, and (2) 17,762,900 ordinary shares represented by 8,881 ADSs issuable upon the exercise of placement agent warrants issued in connection with the Private Placement.

10B 11B
Oct 20, 2023

POS AM filing: This POS AM filing relates to the offering of ordinary shares represented by ADSs issuable upon exercise of series A and series B warrants originally issued in a private placement.

11B 11B
Oct 20, 2023

F-3 filing: This F-3 filing outlines the offering of ordinary shares represented by ADSs by selling shareholders. It provides details on the number of shares owned before and after the offering, with beneficial ownership based on 11,305,953,523 ordinary shares outstanding as of October 13, 2023.

11B 11B
May 31, 2023

POS AM filing: This POS AM filing relates to the potential issuance of ordinary shares represented by ADSs upon the exercise of warrants by selling shareholders, originally issued in a private placement.

10B 8.3M
May 31, 2023

POS AM filing: A selling stockholder may not exercise the warrants to the extent such exercise would cause such selling stockholder, together with its affiliates, to beneficially own a number of ordinary shares which would exceed 4.99% or 9.99% of our then outstanding ordinary shares following such exercise.

4.8B 8.3M
May 01, 2023

20-F filing | 4759.7M shares outstanding

4.8B 2.8B
Oct 12, 2022

F-1 filing: This F-1 filing relates to the registration of ordinary shares represented by American Depositary Shares (ADSs) issuable upon the exercise of warrants held by selling shareholders. The company will not receive any proceeds from the sale of these shares.

7.4B 2.8B
May 16, 2022

20-F filing | 3847.3M shares outstanding

3.8B 8.3M
Sep 30, 2021

POS AM filing: This POS AM filing relates to the offering of American Depositary Shares (ADSs) by a selling stockholder, Aspire Capital Fund, LLC, under existing Purchase Agreements. The company has the right to sell up to $50.0 million of ADSs to Aspire Capital under each Purchase Agreement, subject to certain conditions and limitations.

4.8B 8.3M
Sep 30, 2021

POS AM filing: This POS AM filing registers the sale of 2,285,022,800 ordinary shares represented by 22,850,228 ADSs by the selling stockholder, Aspire Capital, pursuant to existing purchase agreements.

4.8B 8.3M
Sep 30, 2021

POS AM filing: The filing relates to the potential sale of ordinary shares represented by ADSs or warrants or placement agent warrants by selling shareholders, subject to certain ownership limitations.

3.8B 8.3M
Sep 30, 2021

POS AM filing: This POS AM filing registers the sale of ADSs by a selling stockholder, Aspire Capital Fund, LLC, pursuant to purchase agreements. Aspire Capital is committed to purchase up to an aggregate of $20.0 million and $30.0 million of Akari Therapeutics, Plc ADSs represented by ordinary shares.

4.8B 8.3M
Aug 19, 2021

F-3 filing: The company entered into securities purchase agreements for the issuance of 7,947,529 ADSs in a private placement at $1.55 per ADS for gross proceeds of approximately $12.3 million. The company also issued compensation warrants to the placement agent with an exercise price of $2.32 per ADS.

3.8B 8.3M
Apr 28, 2021

POS AM filing: This POS AM filing registers the sale of American Depositary Shares (ADSs) by a selling stockholder, Aspire Capital Fund, LLC, and includes details of purchase agreements where Aspire Capital is committed to purchase up to $50 million of ADSs. The company will not receive proceeds from the sale of ADSs by the selling stockholder.

3.8B 0
Apr 28, 2021

POS AM filing: This POS AM filing registers the sale of 2,285,022,800 ordinary shares represented by 22,850,228 ADSs by Aspire Capital pursuant to purchase agreements. The company may direct Aspire Capital to purchase up to $50 million of ADSs under each purchase agreement when the ADS price exceeds $0.25.

3.8B 0
Apr 28, 2021

POS AM filing: A selling stockholder may sell ordinary shares represented by ADSs or warrants or placement agent warrants, subject to certain ownership limitations.

3.8B 0
Apr 28, 2021

POS AM filing: Akari Therapeutics, Plc is offering 2,285,022,800 ordinary shares represented by 22,850,228 American Depositary Shares (ADSs) through an equity line with Aspire Capital, with Aspire Capital committed to purchase up to $50 million of ADSs at a price not less than $0.25 per ADS.

3.8B 0
Apr 21, 2021

20-F filing | 3847.3M shares outstanding

3.8B 0
Dec 23, 2020

F-3 filing: The filing is an F-3 form registering ordinary shares, including ADSs, warrants, subscription rights, debt securities, and units for a total offering amount of $100,000,000.

3.4B 0
Sep 14, 2020

POS AM filing: This POS AM filing relates to the offering of American Depositary Shares (ADSs) by a selling stockholder, Aspire Capital Fund, LLC, pursuant to purchase agreements. Aspire Capital is committed to purchase up to an aggregate of $20.0 million of our ADSs represented by ordinary shares over the approximately 30-month term of the Purchase Agreement. On June 30, 2020, we entered into a Purchase Agreement with Aspire Capital, which provides that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital is committed to purchase up to an aggregate of $30.0 million of our ADSs represented by ordinary shares over the approximately 30-month term of the Purchase Agreement. The company will use the proceeds from the sale of ADSs to research and development, regulatory affairs and clinical trial expenditures and for general corporate purposes, including working capital.

3.4B 0
Sep 14, 2020

POS AM filing: This POS AM filing registers the sale of ADSs (American Depositary Shares) by a selling stockholder, Aspire Capital, with the company not receiving proceeds from these sales but having received and potentially receiving additional proceeds from prior sales to the same stockholder. The filing also details purchase agreements with Aspire Capital, outlining terms for future ADS purchases and related considerations.

3.4B 0
Sep 14, 2020

POS AM filing: Akari Therapeutics, Plc is filing a POS AM to register the sale of ADSs by the selling stockholder, Aspire Capital Fund, LLC, and to register the sale of additional ADSs to Aspire Capital under existing purchase agreements.

3.4B 0
Jul 17, 2020

F-1 filing: This F-1 filing registers 12,650,228 American Depositary Shares (ADSs) representing 1,265,022,800 ordinary shares for sale by a selling stockholder and also covers a purchase agreement for up to $30 million of ADSs with Aspire Capital Fund, LLC.

3.3B 13M
Apr 27, 2020

POS AM filing: The filing relates to the potential exercise of warrants and placement agent warrants issued in the July 2019 Financing, with limitations on the number of ordinary shares a selling stockholder can beneficially own after exercising the warrants.

2.9B 0
Apr 08, 2020

POS AM filing: This POS AM filing relates to a purchase agreement with Aspire Capital Fund, LLC, where Aspire Capital is committed to purchase up to an aggregate of $20.0 million of the company's ADSs represented by ordinary shares. The company registered the sale of 1,020,000,000 ordinary shares represented by 10,200,000 ADSs under the Securities Act.

2.9B 0
Mar 31, 2020

20-F filing | 2245.9M shares outstanding

2.2B 0
Mar 26, 2020

F-3 filing: This F-3 filing relates to warrants issued in February 2020 private placements. A selling stockholder may not exercise the warrants to the extent such exercise would cause such selling stockholder, together with its affiliates, to beneficially own a number of ordinary shares which would exceed 4.99% or 9.99% of our then outstanding ordinary shares following such exercise.

N/A 0
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