Glass Lewis Proxy Paper Report Recommends “FOR” AIkido Pharma Inc. Proposed Reverse Stock Split
Analysis Firm Agrees that Reverse Split Is in the Best Interest of the Company
NEW YORK, April 22, 2022 /PRNewswire/ — AIkido Pharma Inc. (Nasdaq: AIKI) (“AIkido” or the “Company”) today 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.”
For more information about Glass Lewis, see https://www.glasslewis.com/company-overview/.
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.
