Akari Therapeutics Director Departs, Files 8-K

TL;DR

Akari Therapeutics director Finberg out, 8-K filed.

AI Summary

Akari Therapeutics Plc announced on April 25, 2024, the departure of Dr. Robert L. Finberg from its Board of Directors. The company also reported on compensatory arrangements for its officers and other events, filing this as a Form 8-K with the SEC.

Why It Matters

Changes in board composition can signal shifts in company strategy or governance, which investors should monitor.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of a director's departure and does not indicate significant operational or financial distress.

Key Players & Entities

• Akari Therapeutics Plc (company) — Registrant
• Dr. Robert L. Finberg (person) — Departing Director
• April 25, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — tal Market Ordinary Shares, par value $0.0001 per share* *Trading, but only in conn
• $50,000 — ts ("RSUs") with a fair market value of $50,000. Dr. Patel has served as a member of
• $40,000 — he DiCicco Agreement provides for (i) a $40,000 per month fee (the "Consulting Base Pay

Filing Documents

• aktx-20240425.htm (8-K) — 58KB
• aktx-ex10_1.htm (EX-10.1) — 17KB
• aktx-ex99_1.htm (EX-99.1) — 41KB
• 0000950170-24-051383.txt ( ) — 351KB
• aktx-20240425.xsd (EX-101.SCH) — 95KB
• aktx-20240425_htm.xml (XML) — 6KB

02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. Departure of President and Chief Executive Officer Pursuant to notice provided on April 25, 2024, Rachelle Jacques stepped down as the President and Chief Executive Officer of Akari Therapeutics, Plc (the "Company"), effective May 1, 2024. The terms of Ms. Jacques's separation are still being finalized and are therefore not yet available for disclosure hereunder. The Company will disclose any required severance terms in a subsequent filing to be made by the Company under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), when such terms are finalized. Appointment of Interim President and Chief Executive Officer On April 25, 2024, the Board appointed Samir R. Patel, M.D., a member of the Board, to Interim President and Chief Executive Officer, effective May 1, 2024, to serve in such capacities until such time as a new Chief Executive Officer and President commences employment or such other date determined by the Board. Dr. Patel will serve as the Company's principal executive officer. The Board has also initiated a search for a new President and Chief Executive Officer. Dr. Patel will be compensated for his services as Interim President and Chief Executive Officer monthly in the form of restricted stock units ("RSUs") with a fair market value of $50,000. Dr. Patel has served as a member of our board of directors since November 2023. Dr. Patel is founder and, since April 2017, principal of PranaBio Investments, LLC, a firm providing consulting, strategic advisory, and investment services for small cap biotechnology companies. He is also a consultant to GE Global Research, Inc., GE's innovation engine that is creating novel products and solutions across several sectors including biomanufacturing and biotechnology, a position which he has held since May 2019. Dr. Patel has more than 20 years of experience in life sciences inc

01 Other Events

Item 8.01 Other Events On May 1, 2024 the Company issued a press release announcing the completion of a joint pipeline assessment and program prioritization conducted after the announcement of the definitive agreement to merge with Peak Bio Inc. A copy of this press release is filed as Exhibit 99.1 hereto and incorporated herein by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Amendment No. 2 to Consulting Services Agreement, by and between the Company and Board Advantage LLC, dated April 26, 2024 . 99.1 Press release of Akari Therapeutics, Plc, dated May 1, 2024. 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. Cautionary Note Regarding Forward-Looking Statements This Current Report on Form 8-K contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements related to the expected costs and timing associated with reduction-in-force and expected reductions of operating expenses. These forward-looking statements are based on the Company's current expectations and inherently involve significant risks and uncertainties. The Company's actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks related to cost reduction efforts. In addition, the Company's costs may be greater than anticipated and the workforce and operating expense reductions may have an adverse impact on the Company's development activities. Additionally, these forward-looking statements should be considered in conjunction with the cautionary statements and risk factors described in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and its other filings filed from time to time with the Securities and Exchange Commission. The Company does not assume any obligation to update any forward-looking statement, except as required by law.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Akari Therapeutics, Plc Date: May 1, 2024 By: /s/ Samir R. Patel, M.D. Samir R. Patel, M.D. Interim President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR