2015 Q4 Form 10-K Financial Statement
#000114420416089697 Filed on March 23, 2016
Income Statement
| Concept | 2015 Q4 | 2015 | 2014 Q4 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $2.360M | $5.502M | $30.00K |
| YoY Change | 7766.67% | 1715.34% | |
| % of Gross Profit | |||
| Research & Development | $1.930M | $5.799M | $1.080M |
| YoY Change | 78.7% | 258.81% | |
| % of Gross Profit | |||
| Depreciation & Amortization | $10.00K | $10.16K | $0.00 |
| YoY Change | 105.63% | ||
| % of Gross Profit | |||
| Operating Expenses | $4.290M | $30.58M | $1.110M |
| YoY Change | 286.49% | 1493.53% | |
| Operating Profit | -$30.58M | ||
| YoY Change | 1493.53% | ||
| Interest Expense | $10.76M | $3.054M | -$10.00K |
| YoY Change | -107700.0% | 56080.06% | |
| % of Operating Profit | |||
| Other Income/Expense, Net | $0.00 | -$14.73M | $0.00 |
| YoY Change | 52044.69% | ||
| Pretax Income | $6.470M | -$45.32M | -$1.110M |
| YoY Change | -682.88% | 2226.9% | |
| Income Tax | $0.00 | $0.00 | $0.00 |
| % Of Pretax Income | 0.0% | ||
| Net Earnings | $6.470M | -$45.32M | -$1.110M |
| YoY Change | -682.88% | 2226.9% | |
| Net Earnings / Revenue | |||
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | $5.477K | -$53.19K | -$9.013K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 1.178B shares | 852.1M shares | |
| Diluted Shares Outstanding | 852.1M shares |
Balance Sheet
| Concept | 2015 Q4 | 2015 | 2014 Q4 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $68.92M | $68.92M | |
| YoY Change | 1969.67% | ||
| Cash & Equivalents | $68.92M | $68.92M | $3.327M |
| Short-Term Investments | |||
| Other Short-Term Assets | $730.0K | $730.0K | |
| YoY Change | 7200.0% | ||
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | $10.00K | $10.00K | |
| Other Receivables | $0.00 | $0.00 | |
| Total Short-Term Assets | $69.66M | $69.66M | $3.335M |
| YoY Change | 1988.55% | 1985.63% | -57.42% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $40.51K | $40.00K | $0.00 |
| YoY Change | |||
| Goodwill | |||
| YoY Change | |||
| Intangibles | $52.48K | $59.42K | |
| YoY Change | -11.67% | ||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $140.0K | $140.0K | |
| YoY Change | 133.33% | ||
| Total Long-Term Assets | $235.1K | $230.0K | $59.42K |
| YoY Change | 295.64% | 360.0% | |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $69.66M | $69.66M | $3.335M |
| Total Long-Term Assets | $235.1K | $230.0K | $59.42K |
| Total Assets | $69.89M | $69.89M | $3.395M |
| YoY Change | 1958.92% | 1961.65% | -56.66% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $4.321M | $4.320M | $555.5K |
| YoY Change | 677.74% | 632.2% | |
| Accrued Expenses | $408.2K | $410.0K | $43.00K |
| YoY Change | 849.38% | 925.0% | -89.33% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $21.12M | $21.12M | $1.171M |
| YoY Change | 1703.44% | 1705.13% | -4.84% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | |
| YoY Change | |||
| Other Long-Term Liabilities | $50.00K | $50.00K | $33.00K |
| YoY Change | 51.52% | ||
| Total Long-Term Liabilities | $49.07K | $50.00K | $0.00 |
| YoY Change | -100.0% | ||
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $21.12M | $21.12M | $1.171M |
| Total Long-Term Liabilities | $49.07K | $50.00K | $0.00 |
| Total Liabilities | $21.17M | $21.17M | $1.171M |
| YoY Change | 1707.63% | 1709.4% | -41.95% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$56.80M | -$11.48M | |
| YoY Change | 394.78% | -44.12% | |
| Common Stock | $105.4M | $13.66M | |
| YoY Change | 671.51% | -48.19% | |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $48.72M | $48.72M | $2.223M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $69.89M | $69.89M | $3.395M |
| YoY Change | 1958.92% | 1961.65% | -56.66% |
Cashflow Statement
| Concept | 2015 Q4 | 2015 | 2014 Q4 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | $6.470M | -$45.32M | -$1.110M |
| YoY Change | -682.88% | 2226.9% | |
| Depreciation, Depletion And Amortization | $10.00K | $10.16K | $0.00 |
| YoY Change | 105.63% | ||
| Cash From Operating Activities | -$6.770M | -$4.966M | -$670.0K |
| YoY Change | 910.45% | 236.23% | |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$10.00K | $10.56K | $0.00 |
| YoY Change | |||
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | -$10.00K | $1.400M | $0.00 |
| YoY Change | |||
| Cash From Investing Activities | -$20.00K | $1.392M | $0.00 |
| YoY Change | |||
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $75.00M | ||
| YoY Change | 1932.12% | ||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | -3.060M | $69.04M | 3.900M |
| YoY Change | -178.46% | 1530.18% | |
| NET CHANGE | |||
| Cash From Operating Activities | -6.770M | -$4.966M | -670.0K |
| Cash From Investing Activities | -20.00K | $1.392M | 0.000 |
| Cash From Financing Activities | -3.060M | $69.04M | 3.900M |
| Net Change In Cash | -9.850M | $65.47M | 3.230M |
| YoY Change | -404.95% | 2273.37% | |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$6.770M | -$4.966M | -$670.0K |
| Capital Expenditures | -$10.00K | $10.56K | $0.00 |
| Free Cash Flow | -$6.760M | -$4.976M | -$670.0K |
| YoY Change | 908.96% | 236.95% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2015 | dei |
Trading Symbol
TradingSymbol
|
AKTX | |
| CY2016Q1 | dei |
Entity Common Stock Shares Outstanding
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Cash And Cash Equivalents At Carrying Value
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|
68919995 | USD |
| CY2014Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
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|
3327468 | USD |
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Prepaid Expense And Other Assets Current
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|
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Property Plant And Equipment Net
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Assets
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Assets
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|
3394666 | USD |
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Liabilities Current
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Liabilities Current
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Additional Paid In Capital Common Stock
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Retained Earnings Accumulated Deficit
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Intangible Assets Net Excluding Goodwill
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Accrued Liabilities Current
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Accrued Liabilities Current
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Accounts Payable Related Parties Current
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Due To Officers Or Stockholders Current
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Entity Filer Category
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Entity Current Reporting Status
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|
Yes | |
| CY2015 | dei |
Entity Voluntary Filers
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|
No | |
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Entity Well Known Seasoned Issuer
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|
No | |
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Current Fiscal Year End Date
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|
--12-31 | |
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Entity Central Index Key
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|
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Entity Registrant Name
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|
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| CY2015 | dei |
Document Fiscal Period Focus
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FY | |
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Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss
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Depreciation
Depreciation
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Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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Net Cash Provided By Used In Financing Activities
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Proceeds From Issuance Of Common Stock
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| CY2014 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
|
15262 | USD |
| CY2015 | us-gaap |
Interest Paid
InterestPaid
|
22945 | USD |
| CY2014 | us-gaap |
Interest Paid
InterestPaid
|
5400 | USD |
| CY2014 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
0 | USD |
| CY2014 | us-gaap |
Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
|
0 | USD |
| CY2014 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
0 | USD |
| CY2014 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
0 | USD |
| CY2014 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
0 | USD |
| CY2014 | us-gaap |
Cash Acquired From Acquisition
CashAcquiredFromAcquisition
|
0 | USD |
| CY2015 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
3031304 | USD |
| CY2014 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
0 | USD |
| CY2015 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-11408231 | USD |
| CY2014 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
0 | USD |
| CY2015 | us-gaap |
Financing Interest Expense
FinancingInterestExpense
|
22973138 | USD |
| CY2015Q4 | aktx |
Percentage Of Total Shares Issued
PercentageOfTotalSharesIssued
|
0.9285 | pure |
| CY2015Q4 | aktx |
Percentage Of Total Shares Issued On Diluted Basis
PercentageOfTotalSharesIssuedOnDilutedBasis
|
0.9168 | pure |
| CY2015 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
5799076 | USD |
| CY2015Q4 | us-gaap |
Business Acquisition Percentage Of Voting Interests Acquired
BusinessAcquisitionPercentageOfVotingInterestsAcquired
|
0.9168 | pure |
| CY2015Q3 | us-gaap |
Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
|
20339140 | USD |
| CY2015 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
3000000 | USD |
| CY2015Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Shares Purchased For Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward
|
5617977 | shares |
| CY2015Q4 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
3000000 | USD |
| CY2015 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="center"></div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; BORDER-TOP: black 1pt solid; BORDER-RIGHT: medium none; PADDING-TOP: 0in" valign="bottom" width="100%"> <div style="CLEAR:both;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY:times new roman,times,serif">  </font></font></div> <div style="CLEAR:both;MARGIN: 0in 0in 0pt"><b><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY:times new roman,times,serif">NOTE 1 - Nature of Business</font></font></b></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Akari Pharmaceuticals, Plc, (the “Company” or “Akari”), formerly Celsus Therapeutics Plc (“Celsus”), is incorporated in the United Kingdom. The Company is a clinical stage biotechnology company, and is focused on developing anti-complement and anti-inflammatory molecules as treatments for a wide range of rare and orphan conditions in the autoimmune and inflammatory diseases sectors.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt 3.65pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">On September 18, 2015, Celsus Therapeutics Plc completed its acquisition of all of the capital stock of Volution Immuno Pharmaceuticals SA (“Volution”), from RPC Pharma Limited (“RPC”), Volution’s sole shareholder, in exchange for ordinary shares, par value £<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">0.01</font>, (“Ordinary Shares”), of Celsus (the “Acquisition”), in accordance with the terms of the Share Exchange Agreement, dated as of July 10, 2015 (the “Agreement”), by and among Celsus and RPC.  In connection with the Acquisition, the name of the combined company was changed to Akari Therapeutics, Plc. The Company’s American Depositary Shares (“ADSs”), each representing 100 Ordinary Shares, began trading on The NASDAQ Capital Market under the symbol “AKTX” on September 21, 2015.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">In connection with the consummation of the Acquisition, Celsus issued an aggregate of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 722,345,600</font> Ordinary Shares to RPC, which represented, prior to giving effect to the Financing (defined below), <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 92.85</font>% of Celsus’s outstanding Ordinary Shares following the closing of the Acquisition (or <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 91.68</font>% of Celsus Ordinary Shares on a fully diluted basis). This yielded a share exchange ratio of approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 721</font>:1 of Akari ordinary shares to RPC shares. The Company's earnings per share have been retrospectively adjusted in the statement of comprehensive loss to reflect this recapitalization. Since the Volution securityholders owned a majority of the capitalization of the Company immediately following the closing of the Acquisition, Volution is considered to be the acquiring company for accounting purposes, and the transaction has been accounted for as a reverse acquisition under the acquisition method of accounting for business combinations in accordance with U.S. GAAP. Accordingly, the assets and liabilities of Celsus have been recorded as of the acquisition closing date at fair value and the combined and consolidated financial statements reflect the historical financial statements of Volution as our historical financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The Company, as used in the accompanying notes to the combined and consolidated financial statements, refers to Volution prior to the Acquisition and Akari subsequent to the completion of the Acquisition.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">In addition, on September 18, 2015, the Company completed a private placement of an aggregate of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 3,958,811</font> restricted ADSs representing <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 395,881,100</font> Ordinary Shares for gross proceeds of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">75</font> million (the “Financing”) at a price of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">18.945</font> per restricted ADS, which represented approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 33.3</font>% of the outstanding Ordinary Shares of the Company after giving effect to the Acquisition and the Financing.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Volution was originally incorporated in Switzerland as a private limited company and commenced business on October 9, 2013. On October 23, 2013, Varleigh Immuno Pharmaceuticals Ltd (“Varleigh”), a UK limited company, transferred certain patent rights to Volution in exchange for a payment of approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">107,000</font>, (GBP <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 65,000</font>), which was the carrying value of the patents in accordance with local accounting standards. Effective September 12, 2014 Varleigh ceased its operations and was dissolved. The transaction resulted in the transfer of the business of Varleigh to Volution. On the date of transfer, the controlling/majority shareholders of Volution were also the controlling/majority shareholders of Varleigh. Upon dissolution, there were no reported assets, liabilities, or accumulated comprehensive income remaining in Varleigh, as such no gain or loss on dissolution was recognized.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">On July 3, 2015, the shareholders of Volution exchanged their shares for RPC shares with no changes in individual share ownerships. This qualified as a reorganization.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The Company is subject to a number of risks similar to those of clinical stage companies, including dependence on key individuals, uncertainty of product development and generation of revenues, dependence on outside sources of capital, risks associated with clinical trials of products, dependence on third-party collaborators for research operations, need for regulatory approval of products, risks associated with protection of intellectual property, and competition with larger, better-capitalized companies. Successful completion of the Company’s development program and, ultimately, the attainment of profitable operations is dependent upon future events, including obtaining adequate financing to fulfill its development activities and achieving a level of revenues adequate to support the Company’s cost structure. There are no assurances that the Company will be able to obtain additional financing on favorable terms, or at all or successfully market its products.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
| CY2015 | us-gaap |
Interest Expense Other
InterestExpenseOther
|
3000000 | USD |
| CY2015Q4 | aktx |
Stock Options And Warrants Fair Value Disclosure
StockOptionsAndWarrantsFairValueDisclosure
|
15711017 | USD |
| CY2015Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
5000000000 | shares |
| CY2015Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
1177693383 | shares |
| CY2015Q4 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
11149000 | USD |
| CY2015 | us-gaap |
Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
|
131000 | USD |
| CY2015Q4 | us-gaap |
Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
|
10366 | USD |
| CY2015 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
104000 | USD |
| CY2014 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
1800 | USD |
| CY2015 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
852088530 | shares |
| CY2014 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
85515588 | shares |
| CY2015 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
852088530 | shares |
| CY2014 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
85515588 | shares |
| CY2015 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
68950724 | shares |
| CY2014 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | shares |
| CY2014Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
5000000000 | shares |
| CY2015 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
10560 | USD |
| CY2014 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
0 | USD |
| CY2015Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2014Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2015Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
1177693383 | shares |
| CY2014Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
722345600 | shares |
| CY2014Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
722345600 | shares |
| CY2015 | us-gaap |
Taxes Other
TaxesOther
|
44224 | USD |
| CY2014 | us-gaap |
Taxes Other
TaxesOther
|
0 | USD |
| CY2015 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt 0.55pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt 0.55pt" align="justify"><font style="FONT-FAMILY:times new roman,times,serif"><strong><font style="FONT-SIZE: 10pt">Use of Estimates -</font></strong> <font style="FONT-SIZE: 10pt">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that may affect the reported amounts of assets, liabilities, equity, revenue, expenses and related disclosure of contingent assets and liabilities. Management’s estimates and judgments include assumptions used for accrued liabilities, deferred income taxes, liabilities related to options and warrants, stock-based compensation and various other assumptions that are believed to be reasonable under the circumstances. Actual results may differ from those estimates under different assumptions or conditions.</font></font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
| CY2015 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
852088530 | shares |
| CY2014 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-1868115 | USD |
| CY2015 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt 0.55pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt 0.55pt" align="justify"><font style="FONT-FAMILY:times new roman,times,serif"><strong><font style="FONT-SIZE: 10pt">Concentration of Credit Risk -</font></strong> <font style="FONT-SIZE: 10pt">Financial instruments that subject the Company to credit risk consist of cash and cash equivalents. The Company maintains cash and cash equivalents with well-capitalized financial institutions. At times, those amounts may exceed insured limits. The Company has no significant concentrations of credit risk.</font></font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
| CY2014Q4 | us-gaap |
Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
|
0 | USD |
| CY2015Q4 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
142079 | USD |
| CY2014Q4 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
0 | USD |
| CY2015 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
shares | |
| CY2014 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
shares | |
| CY2015Q3 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
|
1410577 | USD |
| CY2015Q3 | aktx |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumedrestricted Deposit
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedrestrictedDeposit
|
142079 | USD |
| CY2015Q3 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
|
1672028 | USD |
| CY2015Q3 | us-gaap |
Goodwill
Goodwill
|
19283280 | USD |
| CY2015Q3 | aktx |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumedstock Options And Warrants
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedstockOptionsAndWarrants
|
1800154 | USD |
| CY2015 | aktx |
American Depositary Shares Description
AmericanDepositarySharesDescription
|
each representing 100 | |
| CY2015Q3 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther
|
368670 | USD |
| CY2015Q3 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
|
20339140 | USD |
| CY2014 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
79438 | USD |
| CY2015 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
110399 | USD |
| CY2013Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-33357 | USD |
| CY2013Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
400690 | USD |
| CY2015 | us-gaap |
Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
|
8219 | USD |
| CY2014 | us-gaap |
Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
|
0 | USD |
| CY2014 | us-gaap |
Financing Interest Expense
FinancingInterestExpense
|
USD | |
| CY2014 | us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
3690723 | USD |
| CY2014 | aktx |
Adjustments To Additional Paid In Capital Share Subscription Receivables
AdjustmentsToAdditionalPaidInCapitalShareSubscriptionReceivables
|
0 | USD |
| CY2014 | us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
0 | USD |
| CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Shares Purchased For Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward
|
5806280 | shares |
| CY2015Q4 | us-gaap |
Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
|
685141 | USD |
| CY2015Q3 | aktx |
Warrant Issunance Exercise Price Description
WarrantIssunanceExercisePriceDescription
|
share or warrant issuance at less than $0.1958 price share or exercise price per share | |
| CY2014 | us-gaap |
Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
|
1033484 | GBP |
| CY2015 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
|
0.145 | pure |
| CY2015Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
210573 | USD |
| CY2014Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
0 | USD |
| CY2015Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
3968414 | USD |
| CY2014Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
2407332 | USD |
| CY2015Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
4178987 | USD |
| CY2014Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
2407332 | USD |
| CY2015Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
0 | USD |
| CY2014Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
0 | USD |
| CY2015 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.2025 | pure |
| CY2014 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.2150 | pure |
| CY2015 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-9176800 | USD |
| CY2014 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-418724 | USD |
| CY2015 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
1771655 | USD |
| CY2014 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
572139 | USD |
| CY2015 | us-gaap |
Income Tax Reconciliation Disposition Of Business
IncomeTaxReconciliationDispositionOfBusiness
|
3904864 | USD |
| CY2014 | us-gaap |
Income Tax Reconciliation Disposition Of Business
IncomeTaxReconciliationDispositionOfBusiness
|
0 | USD |
| CY2015 | us-gaap |
Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
|
2955733 | USD |
| CY2014 | us-gaap |
Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
|
0 | USD |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
61362198 | shares |
| CY2015 | us-gaap |
Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
|
15595 | USD |
| CY2014 | us-gaap |
Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
|
0 | USD |
| CY2015 | us-gaap |
Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
|
528953 | USD |
| CY2014 | us-gaap |
Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
|
-153415 | USD |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
2882017 | shares |
| CY2015 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
0 | USD |
| CY2014 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
0 | USD |
| CY2015 | us-gaap |
Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
|
0 | USD |
| CY2014 | us-gaap |
Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
|
0 | USD |
| CY2015 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
0 | USD |
| CY2014 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
0 | USD |
| CY2015 | us-gaap |
Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
|
0 | USD |
| CY2014 | us-gaap |
Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
|
0 | USD |
| CY2015 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
-39599123 | USD |
| CY2014 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
-332663 | USD |
| CY2015 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
|
-5718409 | USD |
| CY2014 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
|
-1614890 | USD |
| CY2015Q4 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
1782246 | shares |
| CY2015 | aktx |
Business Combination Share Exchange
BusinessCombinationShareExchange
|
721:1 |
