Aikido Pharma Inc (NASDAQ: AIKI) is flying in the market this morning with gains that are better stated in multiples than percentages. The gains come after the company announced that it has executed a license surrounding a coronavirus drug. Here’s what’s going on:
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AIKI Stock Is Rocketing On Licensing Agreement
In the press release, Aikido Pharma said that it secured an exclusive world-wide license. The license surrunds a broad spectrum antiviral drug platform.
In the release, AIKI said that the technology licensed is a broadly acting pan-viral inhibitory compound with efficacy against multiple viral pathogens. Importantly, the tech inhibits the replication of multiple viruses, including Influenza, SARS-COV, MERS-COV, Ebolavirus and Marburg virus.
In a statement, Anthony Hayes, CEO at AIKI, had the following to offer:
This license is a follow up to our March 6, 2020 press release ‘Treatment for Coronavirus Optioned by Spherix.’ We continue to vet the technology we optioned, but this antiviral drug platform technology we’ve licensed is broader with more potential applicability, while also coming from the same lead inventors and institution. We are always seeking to acquire the best technology to drive shareholder value. We will continue to investigate the technology covered by our option and we will be providing additional information about this antiviral platform shortly. Working to develop technology to help with the current pandemic, as well as other possible viruses that may impact us in the future, is our goal for this technology.
Why This News Is So Exciting
Let’s face it, the coronavirus has changed life as we know it. Schools are closed, places of worship aren’t accepting consumers, even hospitals are locking down to those who are not among the most sick patients.
To get this pandemic under control, the world needs vaccines and treatments. Due to this agreement, Aikido Pharma may have one of these treatments in hand.
If everything goes well with development, the newly licensed technology could quickly make it through clinical phases and to market, considering how fast the FDA is working on these types of treatments.
Of course, if the treatment does make it to approval, demand is likely to be incredibly high, opening the door to a strong revenue opportunity for AIKI.
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