Akari Therapeutics shares surge 10.77% intraday after appointing Kameel Farag as interim CFO with $170M+ capital-raising experience.

Akari Therapeutics surged 10.77% intraday following the announcement of Kameel D. Farag’s appointment as interim CFO, a move seen as a strategic boost for the biotech firm. Farag, with over two decades of biopharma finance expertise, including raising $170M+ in capital and leading companies like Aspen Neuroscience and Ionis Pharmaceuticals, is expected to strengthen Akari’s financial and operational capabilities. His experience in scaling biotech firms and securing financing aligns with Akari’s focus on advancing its novel ADC platform and lead asset, AKTX-101, toward clinical trials. The hiring addresses critical needs for capital and operational growth, particularly as the company aims to validate its spliceosome-modulating payload technology. The stock’s sharp intraday rally reflects investor confidence in Farag’s ability to drive value creation during a pivotal development phase.