On October 5, 2022 AIkido Pharma Inc. (NASDAQ: AIKI) ("AIkido" or the "Company") reported an update on the Company’s share repurchase program (the "Share Repurchase Program") authorized by the Company’s Board of Directors on January 21, 2022 (Press release, AIkido Pharma, OCT 5, 2022, View Source [SID1234621750]).

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The Company reported that on October 4, 2022, the Company purchased 38,035 shares of common stock at $6.99 per share. Anthony Hayes, CEO of AIkido stated, "We believe the Company stock continues to be undervalued and we are using this opportunity to enhance shareholder value by reducing the amount of stock that is outstanding."

Additional 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.