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That is PR. You have to read the details in purchase agreement. “which closing shall occur upon the earlier of (i) the thirtieth (30th) calendar day following the date hereof or (ii) two (2) Trading Days following the FDA Data Submission Date”
The FDA submission date happened one day after original closing, so add 2 days. All initial 2000 preferred are sold and ipix has the approx 1.9 million. I’m happy it’s done and we will not see another round come Nov 5th.
b) On the Second Closing Date, upon the terms and subject to the conditions set forth herein, the Company agrees to sell, and the Purchasers, severally and not jointly, agree to purchase, an aggregate of 750 shares of Preferred Stock with an aggregate Stated Value of $810,000 and Warrants as determined by pursuant to Section 2.2(a), which closing shall occur upon the earlier of (i) the thirtieth (30th) calendar day following the date hereof or (ii) two (2) Trading Days following the FDA Data Submission Date (the “Second Closing”).
So what does IPIX do with 1.9 million cash in hand since Oct 12th. Today is the 23rd. Legal team for B deal? P data? Kevetrin? B manufacturing? Hmmmm. I think they had 2.4 million in September on hand so one month later adding 1.9 fast would be 4.3 million on hand. What does Leo do with 4 million dollars?
(b) On the Second Closing Date, upon the terms and subject to the conditions set forth herein, the Company agrees to sell, and the Purchasers, severally and not jointly, agree to purchase, an aggregate of 750 shares of Preferred Stock with an aggregate Stated Value of $810,000 and Warrants as determined by pursuant to Section 2.2(a), which closing shall occur upon the earlier of (i) the thirtieth (30th) calendar day following the date hereof or (ii) two (2) Trading Days following the FDA Data Submission Date (the “Second Closing”). Each Purchaser shall deliver to the Company, via wire transfer or a certified check, immediately available funds equal to its Subscription Amount applicable to the Second Closing, and the Company shall deliver to each Purchaser its respective Second Closing Shares and Warrants, as determined pursuant to Section 2.2(a), and the Company and each Purchaser shall deliver the other items set forth in Section 2.2 deliverable at the Closing. Upon satisfaction of the covenants and conditions set forth in Sections 2.2 and 2.3, the Closing shall occur at the offices of EGS or such other location as the parties shall mutually agree. The Company covenants that, if the Purchaser delivers a Notice of Conversion (as defined in the Certificate of Designation) to convert any Second Closing Shares by 12:00 p.m. (New York City time) on the Second Closing Date, the Company shall deliver Conversion Shares subject to such Notice(s) of Conversion to the Purchaser by 4:00 p.m. (New York City time) on the Second Closing Date.
Page 8. FDA data submission date is defined as End of phase 2 meeting request plus 8k. That was one day after this agreement. Maybe we are close to done
Did you notice the Purchase Agreements second closing date? There was a 30 days after initial closing date or 2 days after IPIX submitted the end of phase 2 FDA meeting plus 8K? Which occurred on Oct 10th one day after this agreements first closing date. Meaning the entire first tranche of 2000 series b shares have already been handed out.....
Am I reading that right?
Nothing has failed. Do not believe the BS here. 120milish OS at almost $5 a share in late 2014-early15.
.13 a share with 163.1 million OS now
Nothing has failed...don’t let these naysayers fool you. K is far from dead. Prurisol could trump Otezla, etc.....
Partnership sets this free and back to 5-7-10+ a share. All depends on how valuable BP sees B for OM and IBD
Most IBD deals are in the billions. Look at ipix website for examples
I hope all 3 are top priority and all 3 will be back in the spotlight! Imagine that. Ipix could have a first collaboration for two indications...actually, the IBD could be up to 3 or 4 indications alone. Ipix would then have 10’s of millions if not hundreds in the bank, and bring back P and K full steam! We were at almost 5 dollars a share at 120 million shares out....last official OS was 163.1 million. Do you think we should be at .13 resulting in 40 million more shares out?
Nothing has failed. Full steam ahead and hopefully soon!
It is tough to see past. Will the man deliver after years of negotiations??
That is what we wait for.
I hope he turns this whole thing upside down!
It’s coming to a message board soon!
You have to also think in terms of future release and how the company can reinstate the correct market value. My gut says P is a huge winner and an ace in the sleeve. It quite possibly may be left as is for a reason due to the rollout plan allowing additional catalysts once a deal has been inked. IMO. You don’t want to throw the entire kitchen sink all at once. If we get a 20-100 million upfront payment with 100’s of millions in milestones, that would bring us back to where we should be. Then posting stellar psoriasis results would blow the top and let the market know ipix can handle P on its own in which we fully own....all of it. This gives huge leverage to potential sale, partner or if we have enough cash we run the phase 3 on our own - remember 505 2b makes it quicker and cheaper overall.
Very lucrative.
I’m 100% under the impression everything we are about to witness is thought out and with current BP term sheet (friends) blessing
Agreed. Thought of the day: everyone is feeling nervous bc of share price. I Understand.
Think this through: why would Leo ever bring in IBD to the mix of negotiations if the partner was not serious and willing to pay what Leo and team feel IBD is worth. If ipix was being squeezed in any way, I’d assume they would partner with a smaller BP or BIO for a single indication like OM.
I think negotiations with global leading BPs take time....years....so adding IBD is a good sign to me that we are about to hit paydirt!!!!
How about this quote from a CEO on the 3rd quarter earnings call about short and distorts.
“So if the stock continues to go down, based on these kids that play with computers and somebody else's money, we are going to buy back stock. We are going to screw these guys so badly that I don't believe that they will be able to only resign. They will have to commit suicide. So we are going to screw these guys so badly that it will be fun to watch”
I hope Leo does the same
Disconnect can be remedied in a mornings time. I hope we see that here soon.....there has not been enough dilution to make it impossible. The 10-20 million shares entering the market this year is not enough when us Longs account for over half of those. BTD is worth that alone imo. Prurisol results - BTD - partnership all can have this at a multiple of all time high.
Do you know the relationship Dr B has with the CURRENT BP in negotiations? How do you know.....they may be trying to put people out of business who are screwing with us?
It takes 100’s of millions of dollars and about 8-12 years. Your point? If BP backs it and the drug receives specific designations it can move quicker. Ipix has the drugs and the interest from BP and has already received several designations to expedite the development path.
Last step is to sign partners. We are on that step
How? If it was dead, they would announce its discontinued. They would not be signing a CRO for the last step. You should be careful on what you say here. You are constantly spouting false information.
Dr Menon did his deed Scotty. Ipix retired his salary because Kevetrin is as far along as possible with Dr M’s stamp of approval. This is what your employer told me. Keep trying. You will lose.
“In attendance were the company’s CEO and senior scientists flown in from around the country”
Was this Pfizer’s CEO.
Why? There is a massive disconnect here between SP and actual drug value. We are otc and possibly have some dilution tactics since late June.
Why do you think we do not have details on ipix plan? We should know everything that this board is discussing and unsure about.....imo we have to wait for the plan to unfold and be binding. At that point Leo will tell us the exact plan like he used to do. They can’t until finalized.
This will be back over 5-7 dollars soon. Everyone here is cutting this way to cheap and following the negative vibe presented by whi
Where did you hear foam was abandoned? From my knowledge it’s very alive and will be a factor for UP and the very end of the tract. The water enema was very beneficial but I heard a foam may even be better. I am also under the assumption that BP will take all reformulations.
We should have all detail shortly. Fingers crossed.
It doesn’t make sense. But I’m old enough to have experienced these types of situations. Nothing this severe, but close. If Leo drops news of 10-20-90-300 million deal with hundreds of millions in milestones for IBD and OM....we will find out fast just why this stock price is here.
I want to see that squeeze!!!!
It’s not like we diluted to billions and should be here. A simple 20 million increase over the year does not warrant this. IMO. At all.
God has nothing to do here boss. This will be fine and again. When ipix delivers and everyone sees the future is bright.....people who took this opportunity to buy will be smiling ear to ear.
It’s almost time to stop using this app. This board is horrible and full of crap.
Know what you own. Absssi alone is 10x this market cap. Probably more.
I remember when JaZZ went from 13-14 dollars to .50 and people cried and waved the white flag and took losses. What’s It at now?
Binding Term Sheet announced in 10-K. It’s a material event and if failed, would require an 8-K. Until I see that it’s all good. Again BTD will set the price of deal. Not going anywhere without knowing if it’s granted imo.
Monday Morning BTD!!! Come on baby.
Exactly. Here is exact quote;
“For now, we want to maintain our focus on the shortest path to commercialization, which we believe is best achieved by targeting treatment in the more aggressive chemotherapy regimens, in which cases of severe oral mucositis abound.”
They will go to FDA and propose a small phase 3 trial for cancer patients receiving high doses of cisplatin. The data was unreal yet small. The other drugs were much worse for this population. It’s smart and I believe they will get BTD and a deal will be inked the following week
All day. I’m buying and know in the past weeks over a million shares have been locked up by people I know. If it’s Aspire or MFO, it doesn’t matter those million plus are locked until much higher.
I am expecting a deal to finalize at some point. So are my friends. These .16 shares are getting locked up.
Good luck
Yup. Working on the funding and partner to remedy that. Kevetrin Oral will be the big money maker. We just need that first partner and if happens to be for OM and IBD.....boooooya! We will be golden imo.
I did but like PPs data and explanations much better. I think you don’t understand what they are initially shooting for in phase 3. It’s a slam dunk based off the data.
BTD by Nov 20th. But I assume we know soon...hoping prior to Nov. I also think the term sheet BP will make it official soon. Or Leo moves on to next bidder. We will get the full scooop on what has transpired over the past 2 years upon the filing. You all will see that there have been a half dozen or more deal talks and this final one is highest bidder and best match in regards to investment and IBD imo.
Just watch. Stop crying.
Waiting on BTD. Adds 10’s of millions if not more to deal. You wait
Thanks. I have lined up a couple sources who hopefully will pounce once the first deal is done. They are more for the big pharma type stories.
We as shareholders have a right to do everything we can to get the word out and turn this bash fest into truth.
This company has been slandered far too long.
Good call!
Great DD with LINKS. Thanks.
It is incredible isn't it! 6 years and increase your pipeline by 10 drugs, run 8 successful human trials for atleast 4 indications all the way to phase 3 door and dilute by 70 million shares and go from 1.00 to .18 with having actual cash now and financing when in 2012 there was zero......I'd say this is a super buying opportunity. I had maybe 6K shares back then....and now I have 6 digits and what has changed? Everything for the better and we are knocking on the door to our first partnership!!! I'd say I am good to go and if this play out I will have generational wealth. $$$$
Not to mention the market as a whole is popping and BP has tons of cash and a depleting pipeline. LETS GO!!!!
My own personal opinion. K is much closer than we think. Dr. M walked away with a finished product. He is sitting with his feet up right now just waiting for the Term Sheet to finalize and then they will announce the final results of the K Oral data. Take it 3 times a day and this will be revolutionary. Dana Farber will beg for them to bring it back in oral form.......just like they asked MGMT to do so. IMO.
Get Excited and get the media to pick up on IPIX. This is a feel good triumphant story - or it will be! Someone needs to pick up on this company and how it was attacked and continues to be attacked all while attempting to bring life saving/altering drugs to market. We need some good PR Art! This can take off and become a powerhouse! IMO.
COMPARE FOR YOURSELF - 2012 to 2018 - IPIX $$$
AUGUST 31st 2012 - Closed at .63
September 31st 2012 - Closed at 1.00
In the 10-K released on 10/12/12 I found the below info. Here is link to 10-K (https://www.bamsec.com/filing/154823312000017?cik=1355250)
CASH ON HAND - $27,000
CTIX did not have any major Stock Purchase Agreements at the time! So no funds readily available.
OS as of SEPT 30th 2012 - - 93,124,151 (ABOUT 70 MILLION LESS than now)
They had ZERO CLINICAL trials - just pre-clinical work.
Some notes of accomplishments though:
Jan 2012 - Prurisol Patent Filed
March 2012 - BIDMC Agreement to test Keveterin
May 2012 - Jim Boeheim joined as advisor (lol) Jim is a good man but this was exciting at the time.
June 2012 - IND Meeting with FDA approved to seek section 505(b)(2)
June 2012 - IND approved by FDA to begin Phase 1 trial at Dana Farber and BIDMC for Keveterin
Sept 2012 - Selected Dr. Reddy's Lab to manufacturer P
COMPOUNDS OWNED BY CTIX in 2012: 8 TOTAL
Kevetrin
KM 133
KM 391
KM 277
KM 278
KM 362
KM-3174
KM-732
DESIGNATIONS: June 2012 for Prurisol - 505 (b)(2) Approach
_________________________________________________________________
_________________________________________________________________
FAST FORWARD ----- As of OCT 16 2018 -----------
OCTOBER 16th --- Close - .18
Total OS as of AUG 27th 2018 ----- 161,100,000 shares
Cash on hand: 2.4 Million
Financing in place: 22.3 MILLION available from ASPIRE
Financing in place: 75 Million Shelf Reg
Financing in place: 10 Million from MultiFamily Office
Compounds Owned in 2018:
ADDITIONAL COMPOUNDS OWNED AFTER POLYMEDIX's acquisition: 18 TOTAL
**THIS INCLUDES PATENTS** It also included "SUBSTANTIAL EQUIPMENT ASSETS"
"We are very excited about instantly having a strong antibiotic franchise to complement our already robust pipeline that now contains 18 compounds"
ACCOMPLISHMENTS:
CLINICAL TRIALS: (Daubs summary)
1) PHASE I: A Safety, Pharmacokinetic and Pharmacodynamic Study of Kevetrin in Patients With Advanced Solid Tumors
(Start: Oct 2012 - End: Feb 2016) SUCCESSFUL
2) PHASE 2B: Efficacy and Safety Study of Brilacidin to Treat Serious Skin Infections
(Start: Feb 2014 - END: Oct 2014) SUCCESSFUL
***Compared favorably to Daptomycin which is a blockbuster drug
3) PHASE I: Bioequivalence and Pharmacokinetic Study of Prurisol™ and Abacavir Sulfate in Healthy Volunteers
(Start: March 2014 - End: Oct 2014) SUCCESFUL
4) PHASE II: Efficacy and Safety of Prurisol Administered Orally for Active Mild to Moderate Chronic Plaque Psoriasis
(Start: Aug 2015 - End: May 2016) SUCCESSFUL
5) PHASE 2B: Efficacy and Safety of Prurisol Administered Orally for Active Moderate to Severe Chronic Plaque Psoriasis
(Start: Oct 2016 - End: Dec 2017) TOP LINE WHEN WE PAY CRO
6) PHASE 2: Study of the Effects of Brilacidin Oral Rinse on Radiation-induced Oral Mucositis in Patients With Head and Neck Cancer (Brilacidin)
(Start: May 2015 - End: Dec 2017) SUCCESSFUL
MGMT COMMENT:
It sounds so easy huh? LoL. I have so much faith that these terrible low feelings on this board will vanish in a heartbeat. I think this stock can run for years and years to come, I truly do and they have the pipeline to do it. We just need that first one to provide investor confidence and some cash to show we have years to move product. 163million OS is nothing and will create great liquidity once we start hitting the big boards. IMO.
So much progress was made over the past 7 years that I have been here but the last 2 have been brutal and slow. Time to change that Leo. We finally have a Global BP Term Sheet and lets sign it boss! Make us proud and lets start the journey!!!! IPIX!!!!
Every night I ask myself...is tomorrow the day for this company? So far it appears not. I guess “a watched pot never boils” is accurate ;)
I’m just hoping the BTD - granted or not is the turning point to get the damn term sheet finalized. And get this party started.