On January 24, 2022 AIkido Pharma Inc. (NASDAQ: AIKI ) ("AIkido" or the "Company"), a clinical and early-stage drug development company, reported 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 (Press release, Spherix, JAN 24, 2022, View Source [SID1234606720]). The share repurchase authorization is effective immediately.

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"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.