AIkido Pharma Inc. (Nasdaq: AIKI) has announced the establishment of a wholly owned subsidiary aimed at investing in the fintech and financial services sectors. This strategic move is part of a broader plan to diversify its operations beyond biotechnology, with a focus on mitigating risks and enhancing shareholder value. The subsidiary will utilize the board's expertise to identify lucrative investment opportunities. Additionally, AIkido plans to create two more subsidiaries in health & wellness and innovative technology, intending to generate revenue and strengthen its market presence.
AIkido Pharma Inc. (NASDAQ: AIKI) announced the appointment of Soo Yu as a new director on June 10, 2022. This move comes in response to shareholder concerns about the company’s compliance with NASDAQ's diversity rules. CEO Anthony Hayes emphasized Yu's exemplary qualifications and the diverse expertise she brings, which aims to enhance the company's growth strategy. With a robust background in international finance, particularly in Asian markets, Ms. Yu's involvement could potentially open new avenues for AIkido's business development.
AIkido Pharma, Inc. (NASDAQ:AIKI) has announced a reverse stock split of its common stock at a 1-for-17 ratio, effective June 7, 2022, at 12:01 a.m. Eastern time. This move aims to boost the stock price to meet Nasdaq listing requirements, reducing outstanding shares from approximately 89 million to about 5.25 million. Stockholders will receive instructions for exchanging shares via their transfer agent, Continental Stock Transfer & Trust. The company does not plan to raise additional capital shortly.
AIkido Pharma Inc. (Nasdaq: AIKI) has successfully acquired an economic interest in Databricks Inc., a privately held company known for its innovative database solutions and AI capabilities. This acquisition is now reflected on AIkido's balance sheet. Databricks was recently highlighted as a top upcoming IPO, having raised $1.6 billion in 2021 at a $38 billion valuation, with revenues projected to exceed $1 billion in 2022. Notable investors include Microsoft, which has integrated Databricks into its Azure cloud services.
AIkido Pharma Inc. (Nasdaq: AIKI) announced that Slinger Bag Inc. filed a Form S-1/A with the SEC on March 30, 2022, to list its shares on the Nasdaq under the symbol 'CNXA.' The Slinger Bag, an advanced tennis ball shooter, received recognition in an April 2022 article as one of the best tennis gadgets of the year, enhancing its market visibility. CEO Anthony Hayes expressed optimism regarding Slinger Bag's public offering and its potential positive impact on AIkido shareholders and overall investment portfolio.
AIkido Pharma Inc. (Nasdaq: AIKI) announced its early equity interest in Yanka Industries, known as MasterClass, a leading online education platform. MasterClass offers access to lectures from over 150 prominent instructors across various fields, and it was valued at approximately $2.75 billion in May 2022. CEO Anthony Hayes expressed excitement about the content quality and the potential for shareholder value creation, especially during market slowdowns. This investment aligns with AIkido's strategy to enhance value for shareholders while expanding its business portfolio.
AIkido Pharma Inc. (Nasdaq: AIKI) has announced a collaboration with Cedars-Sinai Medical Center to co-fund and develop a novel immuno-oncology treatment. This partnership aims to enhance the effectiveness of CD8+ T-cells in destroying cancer cells by blocking pathways that lead to T-cell exhaustion. The agreement allows both parties to share costs and management of the drug development process. CEO Anthony Hayes expressed optimism about the collaboration, emphasizing its potential to advance cancer treatment.
AIkido Pharma Inc. (Nasdaq: AIKI) announced a Master Collaboration Agreement with Cedars-Sinai Medical Center to fund and commercialize healthcare technologies. Cedars-Sinai is renowned for its innovative medical research and patient care. The agreement will leverage Cedars-Sinai's Technology Ventures team, known for its strong track record in intellectual property and licensing, with 114 patents issued in 2021. CEO Anthony Hayes highlighted this collaboration as a prestigious opportunity to enhance patient care and research.
AIkido Pharma Inc. (Nasdaq: AIKI) announced enhancements in the manufacturing process for its pancreatic cancer treatment, DHA-dFdC. The Company has developed a new production method that allows for scaled production of a key intermediate compound, aiming to lower costs and increase output. Additionally, AIkido was issued U.S. Patent No. 11,219,633, extending protection for the drug until May 2035, and has filed a continuation patent application for further protection. CEO Anthony Hayes expressed optimism about the advancements and their potential impact on drug development.
AIkido Pharma Inc. (Nasdaq: AIKI) has closed a registered direct offering of 11,000 shares each of Series O and Series P redeemable convertible preferred stock, raising approximately $20.9 million. Priced at $952.38 per share, this offering includes an original issue discount of 5%. The preferred stocks can convert into common stock at an initial price of $1.00 per share, contingent on stockholder approval for a reverse stock split. Net proceeds will be used for working capital and general corporate purposes.