AIkido Pharma Inc. reported that, on April 20, 2022, the independent Proxy Paper analysis firm Glass Lewis issued a report (“GL Report”) providing an analysis of the proposals contained in the Company’s “Proxy Statement for 2022 Annual Meeting of Stockholders May 20, 2022,” which was filed with the Securities and Exchange Commission on April 12, 2022. With respect to Proposal (4) in the Proxy Statement to effect a reverse split of the Company’s common stock, the GL Report recommends “FOR” the proposal.
Anthony Hayes, CEO of AIkido, stated, “The Company’s Board of Directors strongly believes that the proposed reverse split is in the best interest of the Company and the stockholders. Importantly, the Reverse Split would not have any dilutive effect on our stockholders. The Board’s primary objective in proposing a potential reverse split is to raise the per share trading price of our common stock to allow the Company to regain compliance with the Nasdaq minimum bid requirement. The Board also believes that the proposed reverse split will enhance the acceptability and marketability of our common stock to the financial community and investing public. In its independent report, Glass Lewis recommends “FOR” the proposal and agrees with the Board that it is in the best interest of the Company. We encourage all shareholders to read the proxy information fully and carefully and then to vote your shares.”
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.