NEW YORK, Nov. 11, 2021 /PRNewswire/ -- AIkido Pharma
Inc. (Nasdaq: AIKI) ("AIkido" or the "Company") today announced its
third quarter ending September 30,
2021, financial highlights and provided a corporate
update.
Highlights
- Cash and investments exceeding $104
million reflecting very low cash burn over Q2
- Monetization and liquidity event in DatChat representing over
600% ROI
- Investment in Tevva Motors electric truck producer, a space
with recent Rivian Automotive IPO, ticker symbol RIVN.
- Investment in Kerna Health, fast growth tele-health business
with recurring revenue and large contract backlog with possible
liquidity event in 2022
- New investment in Slinger Bag, displaying strong progress and
potential near-term monetization
- New investment in Kaya Holdings, first U.S. publicly traded
company to hold and operate state-issued "touch-the-plant" licenses
for the retail, cultivation, and production of cannabis
Anthony Hayes, CEO of AIkido,
noted, "We are excited about our current pipeline portfolio,
upcoming milestones and pending catalysts. This past quarter
showcased our monetization strategy exemplified by a 600% ROI
liquidity event in DatChat which went public over the summer.
Additionally, we actively invested in several exciting high growth
industries such as Electric Vehicles and Tele-health and we
continue to actively pursue additional high growth interests with
near term monetization events to help enhance shareholder value. We
are pleased to also announce today our recent investments in the
Cannabis and innovative sports industries that have strong growth
potential. We are also working diligently to grow our drug platform
through additional licensing efforts and are currently working on
partnerships with academic institutions and private enterprise to
find, fund and advance new drug compounds that can be brought to
commercialization. We continue to maintain an extremely low cash
burn and note that our valuation does not currently reflect the
value of our assets. With our strong balance sheet, we have pulled
our registration statement and we look forward to continued
shareholder value creation."
Third Quarter Highlights
DatChat
On August 17,
2021, DatChat closed its initial public offering at an
initial offering price to the public of $4.15 per share under the ticker DATS. On
September 22, 2021, the Company sold
167,084 shares of DatChat common stock for net proceeds of
approximately $0.9 million. As of
September 30, 2021, the Company
continued to hold 357,916 shares of DatChat valued at approximately
$4.9 million.
Tevva Motors
On September 22,
2021, the Company agreed to purchase 29,004 Interests of
Tevva Motors for approximately $1.0
million. Subsequently, on September
30, 2021, the Company entered into a second securities
purchase agreement to purchase an additional 29,004 Interests of
Tevva Motors for approximately $1.0
million. Tevva Motors Ltd is a UK-based, leading
developer of modular electrification systems for medium duty
commercial vehicles. This is an exciting space, with companies such
as Rivian Automotive recently going public with very high
valuations.
Kerna Health,
On September 15,
2021, the Company entered into a securities purchase
agreement with Kerna Health Inc. Under Agreement, the Company
agreed to purchase 1,333,334 shares of common stock of Kerna for
$1.0 million. Kerna health is a
fast-growing tele-health business with recurring revenue and large
contract backlog and has the potential to lead to a liquidity event
in 2022.
Slinger Bag
On August 6,
2021, the Company entered into a securities purchase
agreement with Slinger Bag Inc. Under the Agreement, the Company
agreed to pay $1.4 million to Slinger
Bag for the issuance of a convertible promissory note in the
principal amount of $1.4 million and
a common stock purchase warrant. Slinger Bag which is
currently listed on the OTC market under symbol SLBG, is a
fast-growing leading connected sports company focused on delivering
innovative, game improvement technologies and equipment across
tennis and other ball sports.
Kaya Holding Corp
On September
29, 2021, the Company entered into a securities purchase
agreement with Kaya Holding Corp. Under the Agreement, the Company
agreed to purchase 8,325,000 shares of common stock of Kaya for
approximately $0.7 million. Kaya
Holding Corp is currently listed on the OTC market under the symbol
KAYS and is the first U.S. publicly traded company to hold and
operate state-issued "touch-the-plant" licenses for the retail,
cultivation and production of cannabis.
Drug Development Pipeline Update
The Company's
pipeline consists of patented technology from leading universities
and researchers and is currently in the process of developing its
innovative therapeutic drug pipeline through strong partnerships
with world renowned educational institutions, including the
University of Texas at Austin, the
University of Maryland, Baltimore and
Wake Forest University.
- The Company is also developing a broad-spectrum antiviral
platform, in which the lead compounds have activity in cell-based
assays against multiple viruses including Influenza virus,
Ebolavirus and Marburg virus, SARS-CoV, MERS-CoV, and SARS-CoV-2,
the cause of COVID-19.
Convergent Therapeutics
In January 2021, the Company invested in Convergent
Therapeutics, which has exclusive rights to technology related to
next-generation dual-action peptide receptor radionuclide therapy
("PRRT") for prostate cancer covered by multiple issued U.S. and
foreign patents. Convergent is currently conducting advanced human
trials relating to prostate cancer treatments utilizing PRRT that
targets the prostate-specific membrane antigen ("PSMA") present on
prostate cancer cells. The technology was developed under the
direction of Dr. Neil Bander, Professor of Urologic Oncology at
Weill Cornell Medicine.
Silo Pharma
In January
2021, the Company entered into an exclusive patent license
agreement with Silo Pharma where Silo Pharma granted the Company a
worldwide exclusive, sublicensable, royalty-bearing license to
certain Silo Pharma owned provisional patent applications directed
to the use of psilocybin in cancer treatment. The license is for
"Field of Use" of "treatment of cancer and symptoms caused by
cancer, including but not limited to pain, nausea,
neuroinflammation, brain and neural dysfunction, depression,
seizures, confusion, dizziness, numbness/tingling, dysfunction of
the senses and all other symptoms that are caused by cancer of any
type."
About AIkido Pharma Inc.
AIkido Pharma Inc. was initially formed in 1967 and is a
biotechnology Company with a diverse portfolio of small-molecule
anti-cancer 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 and 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.