Aikido Pharma Inc (NASDAQ: AIKI) stock is running for the top in the market this morning, trading on double-digit gains. While the company hasn’t issued any news, there’s a good reason for the run. Investors expect to see news surrounding coronavirus hitting the tape in the days ahead. Here’s what’s going on:
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
AIKI Stock Climbs On COVID-19 Anticipation
With Aikido Pharma making a run for the top and no news out, many are wondering what’s happening. It all started about a short while ago when the company said that it executed an exclusive option agreement with the University of Maryland, Baltimore.
The agreement surrounds the technology in the patent for “Methods of Treating Coronavirus Infection.” Importantly, the company said in the release that it has until the end of May to execute a license agreement for commercial development of this technology.
In the company’s most recent update, just a few days ago, AIKI said that it is moving forward in the process here. In fact, in a statement, Anthony Hayes, CEO of the company, had the following to offer:
AIkido has been working to move this research forward. AIkido is the only company with this option and we are committed to funding the research in an effort to be part of the solution to this crisis. The exact amounts of the commitment are dependent on the research and work needed, which is not a static figure in the current environment. We understand the need for information in this uncertain time and we are committed to providing it as soon as we have it. However, I am sure that you can understand that the researchers involved are under a tremendous amount of pressure, and patience is important.
This is a huge statement. AIKI is working hard to take advantage of this tremendous opportunity. It is the only company that has the right to license this technology at the moment, and that, in and of itself is huge!
Investors Expect An Update Soon
While Anthony Hayes told investors that there is quite a bit of research and other work that needs to go into this, he also said that he would update Aikido Pharma investors every step of the way.
Considering this, investors are expecting that AIKI will issue a press release relatively soon. There’s no way to know what the press release is going to say, but investors are hoping for news associated with the development or execution of a licensing agreement. Should the company successfully license the technology for treating COVID-19, the stock could see dramatic gains.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
Don’t Miss The Next Big Story
Join our free mailing list below to receive real-time news alerts!