Innovation Pharmaceuticals Inc (IPIX)

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Looking ahead to 2017, we intend to remain laser focused on advancing our clinical pipeline with concurrent nurturing of relationships that can potentially lead to partnerships. Productive initial dialogue with major pharmaceutical companies in 2016 has already provided clear directions.

As an example of executing towards our goal, we are now actively engaged in our Phase 2b study titled “A Randomized, Double Blind, Parallel Group, Placebo-controlled Trial to Study the Efficacy and Safety of Two Oral Doses of Prurisol Administered Twice Daily for Twelve Weeks to Subjects with Moderate to Severe Chronic Plaque Psoriasis.” Our budget for this study is approximately $6-$7 million. Management believes that achieving significant efficacy, as suggested by results already seen in our previous Phase 2a study, combined with a “clean” safety profile, would support value of the drug candidate at that stage of development in excess of $1 billion. Such potential for value inflection at key milestones during clinical development is part of the Company’s strategy to remain alert to market trends where oral drugs for treating dermatological conditions and better drugs for treating cancer and irritable bowel diseases are being licensed/bought at record prices.