akariLONDON: The tiny [$36 million market cap] UK company and potential Alexion competitor Akari Therapeutics [Nasdaq:AKTX], completed its Phase II COBALT Trial of Coversin [a C5 complement inhibitor] in patients with Paroxysmal Nocturnal Hemoglobinuria PNH.

PNH and Hemolytic Uremic Syndrome (aHUS) are the rare conditions that drive Soliris sales of more than $3 billion annually for Alexion.

The company’s clinical trial is only nine patients but reportedly none had received Alexion’s Soliris. Putting aside the clinical details, the PNH trial essentially “achieved its primary endpoint.”

The company says its Phase III clinical trial in “naïve” PNH patients is anticipated to begin by the end of first quarter 2018.

Akari says it will begin a Phase II trial for Coversin for aHUS in the first half of 2018.