AIkido Pharma Continues Share Repurchase Program

Rhea-AI Summary

AIkido Pharma Inc. (Nasdaq: AIKI) has announced an update on its $3 million share repurchase program initiated on January 21, 2022. As of September 30, 2022, the company acquired 41,096 shares at $7.1034 per share. CEO Anthony Hayes highlighted that the stock price remains below book value, reaffirming the board's confidence in the company's future plans. The repurchase strategy will continue based on market conditions and regulatory factors.

Positive

• Repurchased 41,096 shares at $7.1034, indicating commitment to enhancing shareholder value.
• CEO's confidence reflects belief in future growth and company stability.

Negative

• Stock price remains below book value, indicating potential investor concerns.

NEW YORK, Oct. 3, 2022 /PRNewswire/ -- AIkido Pharma Inc. (Nasdaq: AIKI) ("AIkido" or the "Company") today provided an update on the $3 million share repurchase program (the "Share Repurchase Program") authorized by the Company's Board of Directors on January 21, 2022.

The Company reported that on September 30, 2022, the Company purchased 41,096 shares of common stock at $ 7.1034 per share.

Anthony Hayes, CEO of Aikido stated, "The Company's stock price is still below our book value, so we are continuing to allocate capital under our repurchase plan.  The board believes in the Company and our plans moving forward."

Additional shares may be repurchased from time to time in open market transactions, or other means in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Rule 10b -18 of the Exchange Act. The timing, number of shares repurchased, and prices paid for the stock under this program will depend on general business and market conditions as well as corporate and regulatory limitations, including blackout period restrictions.

About AIkido Pharma Inc.

AIkido Pharma Inc. was initially formed in 1967 and is a biotechnology Company with a diverse portfolio of small-molecule anticancer and antiviral 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, 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

 

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SOURCE AIkido Pharma Inc.

FAQ

What is the current status of AIkido Pharma's share repurchase program?

As of September 30, 2022, AIkido Pharma purchased 41,096 shares at $7.1034 each under its $3 million repurchase program.

Why is AIkido Pharma continuing its share repurchase program?

The company is proceeding with the repurchase to enhance shareholder value, as its stock price is below book value.

How many shares has AIkido Pharma repurchased under its plan?

To date, AIkido Pharma has repurchased 41,096 shares under its $3 million share repurchase program.

What price did AIkido Pharma pay for its repurchased shares?

AIkido Pharma paid $7.1034 per share for the repurchased shares.