NEW
YORK, Jan. 24, 2022 /PRNewswire/ -- AIkido
Pharma Inc. (NASDAQ: AIKI ) ("AIkido" or the "Company"), a clinical
and early-stage drug development company, today announced that its
board of directors (the "Board") has authorized a share repurchase
program to repurchase up to $3
million of the Company's outstanding common stock. The share
repurchase authorization is effective immediately.
"The Board's decision to establish this share repurchase program
reflects the Company's commitment to creating shareholder value,
our strong balance sheet and the expectations we have for 2022."
said Anthony Hayes, CEO of AIkido.
"We will continue our efforts to create shareholder value by
continuing to prioritize capital allocation that supports our
growth strategies. Further, we anticipate several monetization
events this year, from several of our recent investments, which we
believe will further augment shareholder value."
The 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 materially from those
currently anticipated which include those regarding our ability to
implement our plans, strategies, and objectives for future
operations. 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.