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LR,
So a couple little details were missed, LE´s a busy guy , with a lot of resposibility.
He holds the keys to the office and is likely the first to arrive and last one to leave. He´s the greeter, janitor, receptionist, spokesman, mailroom clerk, travel agent, event coordinator, head of human resources, accountant and cfo, cheif estimator and negotiator, ceo, as well as a director (i may have missed a few).
Cut him some slack.
kfc
KarinCA,
Evidently things have changed. It used to be one spoke truthfully, and how one(exec) would provide a reason things may had gone abit awry, but were rewarded when the intially announced task was accomplished, and endowed further by future accomplishments.
In todays market, most bio executives are well overpaid, the agreeements penned well before hand, while investors are well disserved in the aftermath.
Here's the executive compensation from the most recent 10-K filed 9.11.2018
https://www.sec.gov/Archives/edgar/data/1355250/000147793218004457/0001477932-18-004457-index.htm
That being said, I consider your posts, more than most.
Thx,
kfc
TheDane
¨It’s not unexpected that we now have board posters questioning the IPIX licensing rights.¨
Ya think(I agree)?
¨Maybe IPIX and the Global Pharma will hire lawyers with experience in this matter and sort it out.¨
As far as I can tell, ipix is associated with 3 firms:
1. Gary R. Henrie, Esq (long time Nevada Corp hang around).
2. Michael Sullivan(former attorney general from the blue state of Massachusetts. I´ve spoken with their office, and, like Leo, he wasn´t available).
3. David Crandall of Hogan Lovells, appears their best bet, I quess, seems young. I suspect the first two have long flown the coup.
IDK, Crickets
Echo20,
You make a head scratching statement in stating that ¨Leo needs real and true results and contracts.¨
Are you implying that the pronouncements(results defined) by the company may not be true, nor some proclaimed agreements?
IDK
TIAB,
I noted the following in a response on 8/23/18:
¨It takes a while and as noted, we are not talking about a huge staff. Doing the statistical analyses is easy, mostly automate after it has been entered (in itself not so easy), the rest is not.¨
Apparently it takes much longer than LE advised we loyal investors´ of ctix/ipix. Regarding p2b, they´ve gone from 3q17 to 4q17 to 1q18 to 1st half 18, to 9/30/18. Anyone who´s not a wee bit taken aback and upset is dishonest imo. It implies he doesn´t know what he´s talking about, while his words have killed most investors.
Regarding another ipix venture, oral mucositis, Galera Therapeutics blows ipix out of the water when it comes to execution.
Ph2b OM study:
Galera started 14 months later than ipix and finished 2 months ahead of ipix(ipix was 69% longer)
Galera enrolled 265% more patients than ipix(223 vs 61)
Galera used 281% more sites than ipix(61 vs 16)
Galera received BTD 164 days after primary trial completion vs ipix, 249 days(as of 8/23/18, 275 days as of 9/18/18) and counting.
To be noted as why results may have taken longer for ipix OM results- ipix had 2 primary outcome mesures vs 1 by Galera, ipix had 16 secondary outcome measures vs 7 for Galera, Ipix had zero other outcome measures vs 14 for Galera. I won´t attempt to filter them.
kfc
Bold print reflects time adjustment from original post.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143127818
MrW,
Good question. Per ipix, Bertolino has something like 15 years in th pharmaceutical industry.
One question has puzzuled me.
From their website:
¨ Dr. Bertolino serves as President and Chief Medical Officer at Innovation. Dr. Bertolino is a leading pharmaceutical dermatology executive with over 15 years of domestic and global drug development and management experience. Previously, he was Vice President of Dermatology at Novartis, Vice President and Chief Medical Officer of Peplin, Inc., and Senior Director of Dermatology at Pfizer. Dr.(so, he´s like in his mid 60´s, minus 15, puts him at 47 years old when he aquired his qualified experiences¨) Bertolino has authored over 50 abstracts, papers, and book chapter domestic and global drug development and management experience¨, and has been a regular on-air and in-print contributor to leading media companies. Dr. Bertolino received a BS (Chemistry / Biochemistry) degree from SUNY Stony Brook, an MD and PhD (Pharmacology) from The Johns Hopkins University School of Medicine, and an MBA from the University of Michigan Stephen M. Ross School of Business.
What are his accomplishments from residency to age 47+_(assume the refernced 15 years are his most current), specifically?
TIAB,
I liken those who proclaim ¨ I just picked up another 5, 10, 15, or 89k shares, to the boogie boarders, surfers, recently diving into rhe waters of Nauset Beach, Cahoons Hollow Beach, even Newcomb Hollow Beach, or any other beach along Cape Cods National Sea Shore, this past summer. Our family is down there every year(since the 70´s),great beaches. Talk to the Neurosurgeon, from New York, bitten last month at Nauset, still recovering at Spaulding Rehab in Boston, and ask him if he´ll dive back in(after annually diving in, nonchalantly, a similiar amount of years as me), nevermind the gentleman killed this weekend.
Leo´s like a great white, he don´t talk too much.
GLTU
Good detective work Columbo.
That´s what she/he THINKS:),hoping to draw in new suckers(investors), tis all.
Detonate,
I´ll refer to you as ¨explosion¨, if that´s ok?
You ask:
¨When did the due diligence begin? Do you think there isn't an agreed upon window of time that can be extended only if both parties agree? Do you think there isn't an agreed upon window of time that can be extended only if both parties agree?¨
Q1: When did the due diligence begin? Do you think there isn't an agreed upon window of time that can be extended only if both parties agree?
A1: Only a few peeps who can answer that, and they(the company) seldom pick up the phone, and when they do, it´s an underling, or someone not employed by them, who pick up the phone and can not answer the question(s).
Q2: Do you think there isn't an agreed upon window of time that can be extended only if both parties agree?
A2: I do not know. The company has not indicated that is the case(that there´s an agreed upon window of time that can be extended only if both parties agree, but, also remember there is a 3rd party involved, their funder(and lifeblood), the 3rd leg of the stool. What happens if that leg(Aspire) breaks?
Point out any of my potential mistaken interpretaions.
2017, the year of partnerships, nevermind the rest of previously announced estimates and timelines rhat have fallen WELL short!
Thank God they are not house painters(they would never survive based upon past performance), nor would their clients(home owners who hired them).
bradfordbros,
You state;
¨About two weeks ago I did speak to the office and on that day there was one executive and one non executive present. Leo works from Florida and I don't know any more than that.¨
That sounds about right. During my visit late year I saw only two people and executive(KM who I met with), and a female who I did not recognize. When I spoke with office April(there abouts) I spoke with the part time bill payer(local woman who goes in on Tuesdays and Thursdays, and some guy named Harry (Kumar I think was his last name).
10,000 square feet+- for a couple people? Talk about waste.
So much for all hands on deck.
The Dane,
You state:
¨Sober and reasoned analysis, like yours and by others, from people who know the process will help keep the less Pharma-partnership-process informed from soiling more diapers and wrecking the stock.¨
As an amatuer, please define which process you yearn to define. New, potential followers, seek to know, in detail please. Are you stating that you understand ¨the process¨ so well, that those who invested at $3 to $4/sh,should maintain the great hope of those $3 to $4 share rice days? If so simply justify how you know ¨ people who know the process will help keep the less Pharma-partnership-process informed from soiling more diapers and wrecking the stock.¨ I think people understand simple langauge(english, french, spanish, russian, dutch, german, austrailian(ha-ha-ha, for the humorless), chinese, polish, and how ever many other languages exist.
Theranos= ipix?
kfc
I´ll let LR speak for him/her self, but do believe that was the posters(LR) point(challenge).
Respond to the challenge.
In response to:
¨loanranger you do realize that by posting that story, you have now joined nerby in the believe it or not group and will be subject to the wraths of the non-believers.¨
Justfactsman,
First, thanks for post# 241176, I found it informative(didn´t attempt to verify, but made sense to me, having been in many contract negotiations over the years)((not bio, but construction for a mid size GC where each contract is negotiated between the assigned project manager and the various potential subcontractors, as well as suppliers))(((purchase orders issued vs subcontracts- usually))).
We re-evaluate estimated costs and estimated quantities monthly based on actual production and buyout costs and compare those to the percent completed of line items(a 10M job can have 500 individual line items, each broken down by 6 catagories(labor, equipment, materials, fringe benefits, subcontractor, and other(miscelanous). Monthly, we re-assess how far we´ve progressed, how much we received from the owner, and how much we project to spend to complete, and UPDATE the projected costs and schedule accordingly, and reallocate manpower and equipment if need be(the goal is to be running under the estimated budget and ahead of schedule).
What I take issue with is this quote by you:
¨So delays are neutral...but NOT on these boards...they are disappointments for impatient shareholder and can easily be misinterpreted as a negative event, when in fact, they might result in a more beneficial outcome to Shareholders.¨
Again, I don´t know anyone who is happy with delays, there´s at least one party not happy(but usually two), the owner who realizes lost revenue as a result of delays, and the owner of the GC(General Contractor) firm for he /she knows it´s going to cost alot more for the underestimated $ for labor, equipment, materials, fringe benefits, subcontractor, and other expenses, including office overhead.
I guess I come from the belief, and was taught(by my parents, as well as most others, BE TRUE TO YOUR WORD AND BE ON TIME). Bill Belichick, an economics major, I doubt would invest in this team.
Bill Belichick: ¨whether it being in sports or business, the right decision can be the wrong one if the timing is bad.¨
Thanks again for post 241176 and us all the best. Just done wishing and hoping- Appears you have more confidence than me, been here too long, and we hit an all time low near the last closing day(9/14/18).
This board is the investor relations department, I guess, I can´t get a pickup. How would you explain to a new investor that that is a good sign?
Can only hope that managements decision was right.
kfc
Post 241176: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143582192
http://blog.masslive.com/patriots/2017/05/bill_belichick_explains_why_ti.html
¨Just because it hasn’t happened yet within an assumed timespan doesn’t mean it was a lie.¨
Answer: I assumed nothing but rather believed the time frames given by management within, plus or minus, a reasonable amount of time. Prurisol time frame has been a disaster by anyones measure. I was told at a December 2017 office visit that results would likely be available late Feb/March 2018. That seemed reasonable to me given the completion date of the trial(keep in mind they original estimated 3rd quarter ´17, then 4th q ´17, then 1st q ´18, then 1st half ´18. Now we´re told via the 10k we may never see results. Got the picture?
¨I think people were placing Sept 30th as this magical date where all their dreams will come true.¨
Answer: See above.
Wow.
KarinCA,
Pretty much agree with all you´ve stated, wih this exception:
¨We also may have the answer to why Leo contracted with drug manufacturers so early being cash poor. Not only might they need it for the FDA meeting, they may have been required to prove to the interested party that the drug could be manufactured in large doses. It's worthless if it can't be.
If this is the case, it appears to be a matter of robbing Peter (CRO) to pay Paul (drug manufacturer for deal). I'd agree with that decision any day. ¨
There is a business document called ¨a memorandom of understanding¨.
Why obstain from using that?
idk
You state:
Christ Almighty what a roller-coaster ride for IPIX Shareholders and one's stomach the last two trading days to say the least and it's not easy but qiuzzy
....its been a long wait on patience imho,tryz
I guess, though believe that the wait has been much longer(than two days, perhaps years?). Overboard, which I´ve pumped before, not because the author lives in town, but more so because it´s a true story and very well told.
https://www.amazon.com/Overboard-Blue-water-Odyssey-Disaster-Survival/dp/143914575X
At this point, I (unforunately) feel they may be sunk, and have abandoned to the life raft.
Anyhow, I suggest, rather than nit-pick about management, who appears to be incommunicado, why not discuss something constructive and relatable, while we wait to be rescued?:)
kfc
In response to:
“Given the design of the trial and contact with the CROs and clinical site visits, it was possible to have a very good feel of the results of the trial even though it was blinded. It is a simple exercise in math to do so. “
Assuming this is true - they would have noticed the results of improvements. If the results were great will Leo stop payment to CRO? He would have jumped the guns and got the results.
The fact that he delayed it by 9 months tells us that he guessed the results are bad and so he did not pay CRO.
Reminds of the days of point, counter point, and I am finding this board nearly as amusing. I think Lorne Michaels may be among us.
My source just forwarded me this secretly recorded message of the most recent financing considerations between Steve Martin and management.
Steve Martin always gets the last laugh.
My opinion only, but apparently, ipix(LE,KM- the only two officers) feels they are obligated to no one.
In response to:
¨....is IPIX obligated to inform investors of the agreement being unsuccessful and therefore terminated by the interested party?¨
Me too. Picked up 89,605 sh.
George, is that you?
¨Doubt any lawyers will go after Leo on 10/1.¨
Maybe Rosen will call Sullivan?
Rdunn88,
An anonymous source believes that management feels they ¨are done¨ and have provided a preview of their anticipated statement to ¨our loyal shareholders¨.
snayeman,
¨Something weird about the whole thing, results were planned for 1st q and we’re now heading to q 4 with no idea what will happen!¨
Interesting conjecture. Perhaps he takes the ¨midnight express¨ out of Beverly at 12 am on 9/30/18?
¨The challenge has always been how to do it on a frugal budget that doesn't burry us.¨
The bean counter put on a pilot suit and hijacked the plane while stowing away two parachutes. If lucky, investors will walk away with a slight burr, the unlucky ones could well be buried.
Frugal, ha ha ha. Appreciate your sense of humor.
LR,
TY for the response. Where do you stand regarding management´s proclomations?
Going back aways, and I hope you absorb it with the humour intended, you inserted a ¨third¨ question, beyond my two, which was your inquistion, ¨Are you serious?¨
I am.
kfc
LR,
Not sure where you stand, you strike me more as more an arbitrator, rather than an investor, or shorter(if that´s a word).
Never the less, I agree with your assessment but, also believe, that something don´t make sense.
Will re-read those filings.
Do you think things are good? If yes, why?. If not, why? Appreciate your posts, as previously stated.
kfc
Topsin17,
You state:
¨Could't agree more no need to make milestones in Sept. and dilute further with a partner now lurking.¨
You provide no justification within your statement, nor FROM THE COMPANY, only your ¨belief¨ where things MAY end up, if any targets are hit.
Thanks for nothing.
kfc
DaubersUP,
You state:
I'd like to just stay at 160million OS, put some of of the Directors from the partnering company on the BOD and uplist when the deal hits and call it a day ....
....¨
Huh, from page S-2, near the bottom:
https://www.sec.gov/Archives/edgar/data/1355250/000147793218003252/ipix_424b5.htm
¨Shares of common stock to be outstanding after this offering
176.2 million shares of our common stock(1)(2)
Good DD, as advised by many here. Please explain this, can you? Why would any NEW INVESTOR BELIEVE A WORD YOU POST if you are incapable of counting, or SIMPLE research and memory? Numbers matter.
kfc
wsbc,
You state:
¨I'm a 'long' and still holding. I'm literally hundreds of thousands-down currently (70%+) and have dragged others into this based on the science and the belief that it was actually going somewhere.
Total among friends, we have over $1M invested in this, and it's frustrating to see things where they are.
I've been asking questions, but nobody at HQ responds to anything, ever.
I believe in the science, but I'm questioning the management of the deal-making.¨
In response:
Paragraph 1: Me too, long and holding some(did unload some). Not near your loss, but, as an investor, am never content with any loss. Lose a football game by a point, or 50 points, don´t matter- you lose. The question is why?
Paragraph 2: Thankfully, I didn´t recommend ipix(or ctix) mainly because bio´s are volatile. Thats is not to say I never mentioned them, the only family member I mentioned ctix to was one of my sisters, a registered nurse and lead case manager at hospital in the Boston area, whose husband has psoriasis- hence the reason I sent them the clinicaltrials website info.
Paragrapgh 3: I stopped asking in June, but have received responses, spoken with and met with one of the officers(well before 6/18). Hate to sound like a broken record, but if they are so legit, why not hire a secretary? Have things changed that much that companies can make more money by ignoring questions than answering questionsx? If anyone answers yes, the next question is why?
Paragraph 4: I BELIEVED in the science too, and perhaps it is good science, but as Bill Belichick says ¨Good players(scientists*), can't overcome bad coaching(management*), its impossible¨
Ill end it there.
GLTY,
kfc
*= inserted by me(kfc)
To quote Bill Belichick- ¨Good players, can't overcome bad coaching, its impossible.¨
Same applies here. If any of the compounds is successful and sp recovers a little or alot, this company has left alot of destruction in its wake, which might explain why the true fans(institutional investors) aren´t ¨paying to see the game¨.
kfc
The seeking alpha hit piece was exactly on cue, It was so obvious 2 to 3 years ago!!¨
Is that to say erhlich lied in a court of law?
ss,
In response to:¨Leo tells bald face lies in pr’s and filings and folks wonder why I question the term sheet.
Regarding this investment, I am disgruntled, but also consider myself patient.I´ll also admit that I find my patience is tested by Leo. He won´t pick up the phone, and, likely quelled by what he knows.
Tis is his character, imo.
kfc
DaubersUP,
Their(IPIX) own words in the 3/15/18 pr, noted below:
"Company preparing for U.S. Food and Drug Administration (FDA) meeting to discuss Brilacidin-OM development plan.
In response to DaubersUP 9/12/18 post:
¨The fact they state they are REQUESTING AN END OF TRIAL MEETING in Sept with fda for OM means something. Why did they wait so long? And now is time?
I’m sure this meeting would have to have details on possible partners and direction moving forward. ¨
Does this mean they find out if they get BTD now?
It’s just crazy how long this took to request a meeting. I’d say something is up and ready to rock¨
LE, built for comfort, not for speed, nor anyone...
Anyone??????
Perhaps they are attempting, appears to be many of the moderator´s opinion(hi Boo).
kfc
He likely offered to grant the cro shares in lieu of cash. Why would the cro say no to that offer....ah, never mind.
in response to:
I'm trying to understand whether the CRO cost overruns required prior approval from IPIX. If prior approval required then no surprise when the invoice arrives.
A CRO with carte blanc is incomprehensible.
Yeah,
Today´s price action has everything to do with mb¨bashers¨ and nothing to with yesterday´s filing?
Is that your belief? The ceo is either completely incompotent, or something else.
Load up, right?
No.
Based upon UNDERSTANDING of risk.
Bizzy,
Ty for your response to the poster, which I will suggest, and implore all on this board, should refer to your message:
https://investorshub.advfn.com/secure/post_reply.aspx?message_id=143497687
Woman and mens´ character is, hopefully, measured by actions, not by religion(as a Catholic, I think not the need to expound upon that my statement is necessary, and trust you understand why, given the current waters, and evidence, the Catholic church ¨has called in the Coast Guard¨, so to speak). Never the less, I believe.
kfc