Three AI-Driven Cancer Programs Advance Toward Key 2026 Milestones

1. Rakovina Therapeutics Inc. has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.
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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Rakovina Therapeutics Inc. (RKV:TSX.V) reported its financial results for the fourth quarter and fiscal year ended December 31, 2025, alongside a corporate update outlining operational and scientific progress. The company stated that it is advancing three primary drug discovery programs, with ongoing work across kt-5000, kt-3283, and kt-2000.

For kt-5000, lead optimization efforts are continuing in collaboration with Variational AI, with lead candidate selection and IND-enabling studies targeted for the second half of 2026. For kt-3283, in vivo ADME and efficacy testing of a lipid nanoparticle formulation is underway with NanoPalm. The kt-2000 program is progressing through a second round of AI output and in vitro testing. The company also indicated that it intends to progress pharmaceutical partnership discussions as preclinical data matures.

"Completing the first phase of our restructuring marks an important inflection point for Rakovina," said Kim Oishi, CEO of Rakovina, in a company news release. "Through the recent debenture restructuring, new financing, and the strengthening of our board and executive team, we are well on our way to repositioning the Company for success."

The company reported a working capital deficit of approximately CA$2,149,223 and cash and cash equivalents of CA$298,758 as of December 31, 2025. For the three and twelve months ended December 31, 2025, Rakovina reported net losses of CA$1,893,159 and CA$8,680,576, respectively. Research and development expenses totaled CA$828,931 for the quarter and CA$4,603,002 for the year, while general and administrative expenses were CA$972,872 and CA$3,684,750, respectively. Total operating expenses were reported at CA$1,801,803 for the quarter and CA$8,287,752 for the year.

Subsequent to year-end, the company reported that it strengthened its balance sheet through approximately CA$1.0 million in new convertible debenture financing and the restructuring of CA$1,587,131 in existing debentures. Additional developments included leadership appointments, with Kim Oishi named Chief Executive Officer on January 27, 2026, and Frank Holler joining the Board of Directors the same day. Earlier in 2025, the company appointed Dr. David Kideckel as Chief Financial Officer and added both Dr. Kideckel and Yevgeniy Meshcherekov to its Board.

The company also reported progress in its AI platform partnerships, including an expanded collaboration with Variational AI in January 2026 and a non-binding Letter of Intent announced in August 2025 with NanoPalm Ltd. to co-develop oncology therapies using lipid nanoparticle delivery systems.

Scientific and clinical updates included presentations at multiple conferences. In April 2026, Rakovina presented data at the AACR Annual Meeting, including in vivo tumor growth inhibition results for kt-5000 and characterization data for the kt-3283 lipid nanoparticle formulation. Additional presentations in November 2025 at the Society for Neuro-Oncology Annual Meeting reported CNS penetrance, metabolic stability, and in vivo tolerability for kt-5000 and kt-2000 programs. The company also highlighted a peer-reviewed publication indicating that the kt-3283 program demonstrated superior cytotoxicity compared to FDA-approved treatments across multiple tumor types.

Pipeline progress during 2025 included identification of ATR inhibitor hits in the kt-5000 program, receipt of synthesized AI-generated compounds for both kt-5000 and kt-2000 programs, and completion of initial AI-driven candidate generation for CNS-penetrant ATR-targeting molecules.

2026 Program Milestones and Development Activities

According to the company's investor materials, the ATR-mTOR inhibitor program includes ongoing collaboration with Variational AI during 2026, focused on optimization of initial lead compounds. This work involves chemical synthesis and evaluation in company laboratories, as well as continued data presentations at peer-reviewed scientific meetings. The company also stated that discussions with potential partner organizations are ongoing.

The presentation outlined 2026 milestones for the kt-5000, ATR-mTOR program, including the presentation of in vivo model data at scientific meetings and the delivery of lead-optimization results from the expanded collaboration with Variational AI.

For the kt-2000 PARP inhibitor program, the company reported that select compounds identified through in silico screening have been synthesized and are undergoing evaluation. PARP activity and ADME data from these compounds are expected to be used to further train the AI model for refinement and lead candidate selection. Planned 2026 milestones include receipt of output from additional AI modeling and presentation of lead compound data at peer-reviewed scientific meetings.

For the kt-3283 PARP/HDAC inhibitor program, the company stated that it has finalized a Letter of Intent to create a joint venture with NanoPalm Ltd. to develop a formulation aimed at improving in vivo delivery. The collaboration combines the company's AI-enabled drug discovery platform with NanoPalm's lipid nanoparticle delivery system. The company also stated that the joint venture will seek non-dilutive funding.

Additional 2026 milestones for the kt-3283 program include pursuing partnerships with companies developing antibody drug conjugate payloads and presenting nano-lipid formulation data at peer-reviewed meetings.

Ownership and Share Structure¹

Edison Oncology holds approximately 12% of Rakovina Therapeutics. Management and reporting insiders account for about 4% ownership, with the remainder held by a combination of institutional, retail, and other investors, as previously disclosed in company materials.

Rakovina completed a 10-to-1 share consolidation in June 2025, with shareholders receiving one post-consolidation common share for every ten previously held.

As of April 2026, the company has approximately 24.4 million shares outstanding. Market capitalization is approximately CA$2.5 million to CA$3 million based on recent trading levels.

Over the past 52 weeks, Rakovina Therapeutics' share price has ranged between approximately CA$0.085 and CA$0.84.