AIkido Purchases More Shares

Rhea-AI Summary

AIkido Pharma Inc. (NASDAQ: AIKI) announced an update on its share repurchase program, which was authorized on January 21, 2022. On October 4, 2022, the company repurchased 38,035 shares at $6.99 each. CEO Anthony Hayes emphasized that the repurchase aims to enhance shareholder value by reducing outstanding shares. Future repurchases will occur based on market conditions and regulatory limitations. AIkido Pharma is focused on developing small-molecule therapeutics for cancers and viruses through collaborations with prominent universities.

Positive

• Purchase of 38,035 shares at $6.99 each indicates a commitment to enhancing shareholder value.
• The share repurchase program reflects the company's belief that its stock is undervalued.

Negative

• None.

NEW YORK, Oct. 5, 2022 /PRNewswire/ -- AIkido Pharma Inc. (NASDAQ: AIKI) ("AIkido" or the "Company") today provided an update on the Company's share repurchase program (the "Share Repurchase Program") authorized by the Company's Board of Directors on January 21, 2022.

The Company reported that on October 4, 2022, the Company purchased 38,035 shares of common stock at $6.99 per share. Anthony Hayes, CEO of AIkido stated, "We believe the Company stock continues to be undervalued and we are using this opportunity to enhance shareholder value by reducing the amount of stock that is outstanding."

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 recent action did AIkido Pharma (AIKI) take regarding its shares?

AIkido Pharma repurchased 38,035 shares of its common stock at $6.99 each on October 4, 2022.

When was AIkido Pharma's share repurchase program authorized?

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

What is the goal of AIkido's share repurchase program?

The goal is to enhance shareholder value by reducing the number of outstanding shares.

What factors influence AIkido's share repurchase timing?

Repurchase timing is based on market conditions and regulatory limitations.

What type of therapeutics is AIkido Pharma developing?

AIkido Pharma is developing small-molecule therapeutics for cancer and viral infections.