AIkido Pharma Announces Withdrawal of S-1 Registration Statement
AIkido Pharma Inc. (Nasdaq: AIKI) has withdrawn its S-1 Registration Statement previously submitted to the SEC, as it had not been declared effective. No securities were sold related to the offering. CEO Anthony Hayes expressed optimism about their therapeutic drug platform, citing upcoming testing data and the company's sufficient capitalization for ongoing research. AIkido is focused on developing small-molecule anti-cancer therapeutics and a broad-spectrum antiviral platform targeting various viruses.
- The company is sufficiently capitalized for ongoing research activities.
- Upcoming publication of testing data is expected to reinforce optimism about its therapeutic drug platform.
- Withdrawal of the S-1 Registration Statement may limit potential funding opportunities.
NEW YORK, April 22, 2021 /PRNewswire/ -- AIkido Pharma Inc. (Nasdaq: AIKI) ("AIkido" or the "Company") today announced that the Company has withdrawn its S-1 Registration Statement that was previously filed with the U.S. Securities and Exchange Commission ("SEC"). The Registration Statement has not been declared effective by the SEC, and no securities have been sold in connection with the offering described in the Registration Statement.
Anthony Hayes, CEO of AIkido Pharma, stated, "Recent advancements from our research partners and the anticipated publication of testing data for our technology that is expected in the second quarter of this year, reinforce our optimism around the opportunities for our therapeutic drug platform and the future of the Company. Through a series of recent financing transactions, we believe we are sufficiently capitalized to fund research activities that are currently underway and selectively pursue additional emerging opportunities. Given the current market conditions, we determined it is in the best interest of our shareholders to withdraw the registration statement, while staying the course with our approach to developing commercially viable, effective therapies."
About AIkido Pharma Inc.
AIkido Pharma Inc. was initially formed in 1967 and is a biotechnology Company with a diverse portfolio of small-molecule anti-cancer therapeutics. The Company's platform consists of patented technology from leading universities and researchers, and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and University of Maryland at Baltimore. Our diverse pipeline of therapeutics includes therapies for pancreatic cancer and prostate cancer. We are constantly seeking to grow our pipeline to treat unmet medical needs in oncology. The Company is also developing a broad-spectrum antiviral platform that may potentially inhibit replication of multiple viruses including Influenza virus, SARS-CoV (coronavirus), MERS-CoV, Ebolavirus and Marburg virus.
Forward-Looking Statements
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Contact:
Investor Relations:
Hayden IR
Brett Maas, Managing Partner
Phone: (646) 536-7331
Email: brett@haydenir.com
www.haydenir.com
AIkido Pharma Inc.:
Phone: 212-745-1373
Email: investorrelations@aikidopharma.com
www.aikidopharma.com
View original content to download multimedia:http://www.prnewswire.com/news-releases/aikido-pharma-announces-withdrawal-of-s-1-registration-statement-301274872.html
SOURCE AIkido Pharma Inc.
FAQ
Why did AIkido Pharma withdraw its S-1 Registration Statement?
What is the expected impact of AIkido Pharma's upcoming testing data?
How does AIkido Pharma plan to fund its research activities?
What are the main therapeutic areas AIkido Pharma is focusing on?
What is the stock symbol for AIkido Pharma?
