Shares of Aikido Pharma Inc (NASDAQ: AIKI) have lost early momentum and now trading lower.
Market Action
As of 2:36, AIKI is trading lower by 2% at $0.8367. 1.19 million shares have traded hands. After opening at $0.87, the stock touched a high and low of $0.8307 and $0.8926 respectively.
Strong Pipeline and Multiple Catalysts
According to a release put out by AIKIs investor relations firm things are looking up for AIKI.
- The company is involved in some very exciting sectors in the biotech industry including next-generation dual-action peptide receptor radionuclide therapy for advanced human trials relating to prostate cancer therapies, which happens to be the same space that Novartis just reported positive phase 3 data and has been snapping up technologies for multi-billion dollar valuations over the last few years. See one and two here.
- AIKI is also actively involved in another sector that has been attracting growing investor interest with its partnership with Mount Sinai Center for Psychedelic Psychotherapy and Trauma Research to help veterans who are suffering from post-traumatic stress disorder (PTSD).
- If that wasn’t enough, AIKI has an exclusive patent license agreement with Silo Pharma, Inc. for technology that covers the use of psilocybin (a naturally occurring psychedelic prodrug compound produced by more than 200 species of fungus) for cancer patients providing the Company with the opportunity to explore an emerging and expanding treatment for neuroinflammation, which is frequently associated with cancer, and other cancer-related neurological side-effects.
- Lastly, AIKI also has a broad spectrum anti-viral platform that has shown progress in optimizing drugs for the treatment of influenza, COVID-19, Ebola, and other viral infections. These new compounds are being tested against the influenza virus with testing on SARS-CoV-2 expected in the near future.
Traders Notes
AIKI is struggling. The stock is down 66% from its high in February. It did see a little bounce in Mid April but has given almost all those gains back. If AIKI goes through the 80 cent range, the next stop will be .70-.73. Potential pivot points to keep track of are .88, .92, and .98 above and .82, .79 and .73 below.
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