AIkido Pharma Provides Update on Share Repurchase Program

Rhea-AI Summary

AIkido Pharma Inc. (NASDAQ: AIKI) has updated its $3 million Share Repurchase Program, initially authorized on January 21, 2022. As of September 29, 2022, the company has repurchased 303,886 common shares at prices ranging from $5.34 to $6.97. The company plans to continue repurchases based on market conditions and regulatory limitations. AIkido is focused on developing therapeutics for cancer and viral infections through partnerships with major universities, aiming to address unmet medical needs.

Positive

• Share repurchase program totaling $3 million could enhance shareholder value.
• 303,886 shares repurchased may increase earnings per share (EPS) for remaining shareholders.

Negative

• None.

NEW YORK, Sept. 30, 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.

In the framework of the Share Repurchase Program, the Company has repurchased 303,886 common shares in the period from January 21, 2022 up to and including September 29, 2022. The price per share range for the shares repurchased was $5.34 to $6.97.

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 purpose of AIkido Pharma's share repurchase program?

The purpose of AIkido Pharma's share repurchase program is to enhance shareholder value by buying back shares, which can increase earnings per share.

How many shares has AIkido Pharma repurchased under the program?

As of September 29, 2022, AIkido Pharma has repurchased 303,886 common shares.

What was the price range for the shares repurchased by AIkido Pharma?

The price per share for the repurchased shares ranged from $5.34 to $6.97.

When was the share repurchase program for AIkido Pharma authorized?

The share repurchase program was authorized on January 21, 2022.

What is the total amount allocated for the share repurchase program?

The total amount allocated for the share repurchase program is $3 million.