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No scam Pete. Was just getting a few opinions from those I hold good opinion. My apologies.
As mentioned by Dr. B in recent PR...
“Near-term strategic clinical priorities remain: to work closely with the FDA and other regulatory authorities to align on the remaining development plan necessary for Brilacidin in Oral Mucositis; to analyze the Prurisol Phase 2b data in Psoriasis; and, as additional funding becomes available, to commence work on new product formulations...
Notice P is mentioned before the idea of as additional funding becomes available.
One can say these are just near term strategies, but it's clear on priorities. Now the big questions are where is the funding going to come from and why is B not yet partnered. And what's the hold up on BTD answer. These questions are what need to be answered soon.
We'll likely see some form of capital infusion before a deal is signed. Just not sure how much or what type. My guess is enough to pay CRO and payroll.
The issue I have is share count. If agreement happens then wondering what kind of market cap could there be on B OM and IBD alone.
Thank you. Just didn't want to clutter the board with my stupid question of if my shares would automatically transfer to the new company.
Thanks, Phantom Lord. Thinking to add to my position here. Just trying to figure out if this is a long term investment.
If merger approves, then when does the new company start as MRKR?
Lilkauhna, Hound, Sox...what is your take on current situation? Would love to hear differing views.
Ah. Clear. Thank you. So, at today's share price and with the "market" knowing about the merger the implied valuation is around $435m. Worse case would be today's market cap or around $3/share. Could be case is around $800m or $17.50/share. My rough math. Am I offbase?
I am confused by company's communication a bit. I agree 10k states that, but even recent PR implies analyzing P results is near term..differentiating from further developments of pill form in other indications. To me I read into it thinking either they are about to raise more capital enough to pay P and process legal documents for potential partnering or get partner and first priority to analyze P. Also, to me, the question is how much $ is needed and what is best way to get it.
Per PR stated by Dr B:
“Our clinical assets are both highly promising and well-diversified,” said Arthur P. Bertolino, MD, PhD, MBA, President and Chief Medical Officer at Innovation Pharmaceuticals. “Near-term strategic clinical priorities remain: to work closely with the FDA and other regulatory authorities to align on the remaining development plan necessary for Brilacidin in Oral Mucositis; to analyze the Prurisol Phase 2b data in Psoriasis; and, as additional funding becomes available, to commence work on new product formulations
Phantom Lord, thank you. Helps! What's still unclear to me will be the number of outstanding shares if merger approves. I read the document filings and it seems to be 150m authorized shares. Am I misreading? My research so far is 12m now, 12m to maker, 17m private placement, then...
Sorry for a basic or simple question, if the merger happens then I understand there is a new company with new ticker. Is it treated like an IPO? I mean, who sets the market cap value on day 1? Today, the market cap is arounfmd 130M with share count of around 12.5M. I know there will be close to what, 50-60M shares post merger? Thanks for the lesson. Much appreciated.
Curious, what are you doing as a result?
Struggling to understand how the stock price will climb from here. Would be grateful to hear some perspectives. Where are some guessing and why?
Makes since. Just don't see how they can partner without not knowing BTD status, unless clause that defines BTD as a milestone. So, I think you're correct. Wondering if the one after that or filing would be another round of financing.
Thank you Burrhead1. I'm new to this investment so beginning my research.
Can someone explain to me how the upcoming merger works in terms of share count and market cap?
Can you elaborate?
I would think this would be one more reason for both parties (IPIX and global pharma) to get agreement done soon.
Longs, what does life after partnering look like in your opinion let's say 5-10 years down the road? By that I mean life at the company.
For those of you whom have been around since 2011, didn't Leo loan the company money and that put them in forward motion?
Just thinking about now where the company has a signed term sheet for OM and IBD after 2 recognized Ph2 trials, meaning garnered the attention of global pharmacy and FDA. Has another drug with P where Ph2b results await but are in hoc because of unexpected cost increases. K has shown p53 modulatio, but I suppose we can forget the drug for now.
I'm very disappointed with how P communication has been handled, but seems the company just needs a similar life line.
Per 10k... Upon our purchase of the Polymedix Assets we assumed all contractual rights and obligations of the licenses.
BooDog, Karen, Hound, or Other Longs,
Coming back to this post. Assuming potential agreement on B OM and IBD only, how much upfront do you think the company needs to move forward? If P and K end up being no gos, then does company still have significant price appreciation potential if B OM and IBD are signed and progessed?
Wondering...the fact only one signed term sheet implies there should be more? Or only one signed means others were not interested. My take was that IPIX agreed on one that met their targets...not that there was only one , so we took it.
Nick, maybe I misunderstood but P was not a Polymedix asset.
There's enough smoke around P situation to know there's fire. What that means is debateable. Either way, this is a major blunder on someone's part and someone should be held accountable. If a CRO issue, then communication by Leo should be made. If Ipix then something should be explained in someway...we didn't expect blah, blah...or maybe some one should be terminated. I don't pretend to know legal side, but I do know the end of June agreement happened...and then the 10k surprise and I believe it was issued early?
What bothers me about P and the 10k is that it was just thrown out in a 10k. I think a PR beforehand would have been much better and more transparent. I mean, they could have PR'd the non binding term agreement on B and as a side note explaining cot overruns on P because of....
Opinions on how long due deligence takes?
DaubersUP or others, do you recall how much goes back to others for royalties?
Farrell90 or Hound, Sox, Karen, BooDog, other longs..
What I think about at times is... let's pretend a deal goes through. What upfront $ is needed to get IPIX until the additional milestone $ would kick in. I mean, if they signed a deal I wonder if that would be sufficient funds to get them into royalties time period so that they could become somewhat self sufficient and advance other candidates.
Term sheet from last year? Thought it was last month?
To me, a term sheet is more advanced than confidential agreement. It signals the pharmaceutical company wants the relationship but are likely double checking math and science after having been through the science already during NDA. Maybe Pharma has an investment committee panel review...for final go/no go decision or final negotiation points.
I appreciate your point and I don't dismiss it, but what I don't understand is what did the company use the money for from the most recent funding if not to get the P data.
So to sum up...we had cost overruns on P data and company could not pay. Deal for B was not happening fast enough to fund P data release so agreement with Aspire happened. 10k filing date occurred so company had to inform. Price dropped. Now we are hoping for a B deal, which should unlock P results. Do I understand correctly?
The P payment issue sounds temporary... surprise cost increases, some discussion if not tough ones on how to resolve between parties, eventual resolution.
....
This study is now completed and we are awaiting statistical analysis of results. However, due in part to cost overruns of the Phase 2b trial over and above the estimates provided by the contract organization, the Company has not made all payments to the research organization managing the trial, which has resulted in delays in closing the study and obtaining the statistical data
Or due deligence of the numbers
Was BTD news mentioned in report? I didn't see it.
A non binding term sheet signed in August. When in August not sure, but also not sure how long due deligence takes. Who's to say it's not resolved?
Looking forward to seeing the dose dependant improving response of P using 2x the dose as P2a study. Twice the dose and easier trial conditions. Also, secondary endpoint analysis should be interesting as the company was aiming to be understand other potential applications of Prurisol.
Do you still support the company?