23 February 2021 - - US-based biotechnology company AIkido Pharma Inc. (NASDAQ: AIKI) has closed an underwritten public offering of 46.875m shares of its common stock at a price to the public of USD 1.60 per share, the company said.

As previously announced, the company has granted to the underwriter a 30-day option to purchase up to 7,031,250 additional shares of common stock at the public offering price, less underwriting discounts and commissions.

H.C. Wainwright and Co. acted as the sole book-running manager for the offering.

The gross proceeds to the company from the offering are USD 75m, before deducting underwriting discounts and commissions and other offering expenses.

The company said it plans to use the net proceeds from this offering for working capital and general corporate purposes.

AIkido Pharma Inc. was initially formed in 1967 and is a biotechnology company with a 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 Wake Forest University.

Its pipeline of therapeutics includes therapies for pancreatic cancer, acute myeloid leukemia and acute lymphoblastic leukemia.

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.