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Wow. 27 hours without a post. This one really is dead.
Why do you think this team will be able to get government money for an ACTIV clinical trial after being unable/unwilling to get BARDA money for Brilacidin as a novel antibiotic?
Shionogi is a company with 6000 employees and a $20B market cap. It is the 41st largest BP on Earth.
I don't see any companies on this list with a market cap of $16M:
https://www.nih.gov/research-training/medical-research-initiatives/activ/covid-19-therapeutics-prioritized-testing-clinical-trials
Who is actually thinking we're going to get government funded phase 2b/3 clinical trials?
BARDA has been a pipe dream of CTIX/IPIX for nearly a decade with no assistance. Why will ACTIV be any different? These people are all in bed with BP for those campaign donations and cushy jobs after their government tenure.
I just don't see hope here.
Who will pay for it though?
We blew our wad on the last one.
I'm not holding my breath for government money for a clinical trial. We haven't had much luck finding partners to help us out.
The company just released secondary endpoints in a PR a couple weeks ago.
That's probably the last you're going to get on Brilacidin for COVID. It will only be advanced further if government funds are found.
Yeesh...
"And nobody on here can say it definitely won't happen."
That's rough after nine years of development and over $100M of shareholder money burned researching three different drugs.
Here we sit down 98% over 7 years.
And you suggest a 4th new drug? Its like the NY Lotto: Hey, ya never know.
I don't get it. Our market cap is $16M. If Brilacidin was such an existential threat to BP why wouldn't they all form a holding company, chip in $1B each and buy IPIX out for $10B? They could then just run reformulations and reup the patent to keep it off the market for decades to come.
Surely you don't think Leo would turn down $10B because the pipeline might have more potential, do you?
No, the simpler answer is that whatever BPs Leo has managed to draw the attention of either have no interest in it or are offering AS B-UP sorts of terms.
The fact that we couldn't get Gilead to run our B-COVID trial and give us $20M upfront for a 50% share speaks volumes. It would have been a rounding error on their Remdesivir profits and would have ensured that any B success would not threaten them. We certainly would have taken that deal.
Paying back all of his loan is bad optics.
-We're very limited in our options for raising more cash without devastating dilution.
-Our cash is probably not enough to run a B-OM phase 3.
Given those two points, Leo thought it a better use of our limited cash to pay back his personal loan than to advance the pipeline.
That signals to me that he is not confident in his ability to raise more money and he has pulled most of his remaining risk here.
He's laser focused on advancing the pipeline and building shareholder value yet he's opting to use our limited cash to derisk his personal position.
I'm trying to keep my eyes on what he says rather than what he does but it's hard even for a chronic mark such as myself.
Maybe. I don't think he would have paid back all of that loan.
He must know what that looks like. Rolling up the ladder as he takes off in the helicopter...shareholders still standing on the roof of a Saigon hotel.
It's clear the stakes are too high for Leo to remain in the game.
I see the company being sold if it is more profitable for Leo to do so than bleed the company dry with his salary.
If not, then I think Leo drinks our financial blood until we expire.
Finally paying back all of his loan (after years of leaving it on the balance sheet) at a time when we are desperate for money to move forward signals to me that he is not confident that we will get more funding.
Instead of continuing to leave the loan and the balance sheet (committing his money as we have) and reducing his salary (committing his time) he has done neither. He has used the company's limited resources to eliminate all of his own financial risk and continues to draw that cushy salary with no results.
I bought at 0.08 on the day of the COVID results. Now that I have seen the COVID secondary endpoints and the loan repayment I think we are ultimately finished without a surprise partnership. I'm not sure we're undervalued at $0.034 anymore.
As I've said elsewhere, Leo needs to rally by example. If he really believes then he needs to put his money and time where his mouth is. A large cash purchase of shares at the market or a sharp or total reduction of salary until things turn around is required to inspire. He has dined well while the company fell from $0.60 to $0.034 over the past 20 months. It's time for him to tighten his belt as shareholders have.
Does it really help us at all if you're right?
If there are nefarious forces at play they are winning or arguably have already won. What is left for IPIX?
Does it make it any better an investment at this point if that's true? The end result is the same.
It's going exactly according to plan.
Leo's plan, not shareholders's plan.
Who wouldnt cover a short sold at $3.00 at 0.10 or 0.08 or 0.04?
Virtually all shorts, naked or otherwise covered in 2021 or earlier.
As we flirt with new lows it seems reality is setting in even on other staunchly pro-IPIX boards.
Its tough watching long timers realize they can have a loss even if they don't sell and things aren't just going to work out.
Now that his loan is fully paid off, Leo should be reducing his salary down to a level commensurate with his performance. If he did this some would believe he honestly has the shareholders interests at heart.
For now though, he milks us while making little progress and decimating shareholder value.
Do the right thing Leo.
Yeah an all time high bio buyout premium of 2700%....
No, we're certainly not getting a dollar.
I'm hoping for a couple dimes.
I'm sure Leo thanks you for funding his paycheck today. He makes about $2K/day doing whatever it is that he does.
Their news feed has largely dried up. Two announcements in the last 10 months.
Also, is there a company that has a drug in one of these ACTIV trials that has a market cap under $10B and no history of lobbying? Almost everything I see on the list is from a top 30 pharma.
I'm just not seeing it happen on our own.
Where is the money for phase 3 going to come from? I think the previous expectation was that COVID results would generate some price and volume action that would allow raising it.
Anyone still believe we're not on the precipice of clearing the decks of existing shareholders with a reverse split?
Hopefully its good enough that a BP wants to partner on it to get that government money.
These secondary endpoints were better than having no effect but it definitely looks like a very long and uncertain road ahead.
We really need a partner to take the uncertainty off the table and give us a meaningful shot at clinical-scale research money.
Ill probably be looking to put the tax return in the Roth and then pick up a little more at new lows over the next month. Then it will be time to hibernate and pray. Not really expecting anything clinical to start this year without a partnership.
It has been a good 10 years, Leo. Here's to the next 10.
Hoping and praying. Maybe buying a little more this week.
Feels like we've been laying in a rainy ditch for three months after being hit by a truck. Will someone please come pull us out of this mud?
What are the details on that?
Promising for who? Shareholders or our resident pensioner?
I've learned my lesson. I just need him to do one more good pump so I can get out with some of my skin.
I'd prefer he just sell the company for a few hundred million but it doesn't seem like he could get that.
I woudn't say 9 weeks constitutes an update "shortly".
I wouldn't worry too much about that. We failed our trial and COVID is basically over. It's time to look to OM, UC, and the new compound being purchased.
I think I'm getting about $3700 back on my tax return....100K shares? Yolo?
I'm holding out hope but do you really need the quotes around "failing"?
If IPIX isn't a failing penny stock I'd love to know your definition of failing.
It doesn't really matter. The pandemic is largely over now. It's time to focus our limited resources on the new pipeline acquisition we were told about. Brilacidin has been pumped and dumped to death. It's time for some new hope.
My guess is that even if there was a little glimmer of chance back in mid January for a COVID partnership, I suspect any terms just plummeted as the pandemic essentially went from red hot six weeks ago to over today.
That's the only reason I can think of that he would send out a shareholder email saying "soon" and then go quiet for five weeks.
Leo Ehrlich,
Sign the deal. Get something done to increase some of that shareholder value you have been focused on.
We're now in March 2022. $0.039/share. You're the only one living large off this stock. The rest of us are starving. Please.
Make us believe in the Leo of 2014 again. Make IPIX great again.
Sincerely,
Your once faithful shareholders.
Can't afford that place on an H&R Block salary.
Also, looks like the adage "you can't buy good taste" is in play here.
I like to think I paid for the swimming pool. I think I see some of Kelt's retirement in those marble counter tops.
All true. I sneered at both $40 Tesla and $250 BTC in favor of CTIX.
Who would pick electric car and crypto pipe dream nonsense over a drug company with a three-pronged pipeline headed to NASDAQ? We could practically smell the Brilacidin partnership and phase 3 in early 2015.
Longest rug pull ever...I been falling down the stairs for seven years now.
You're pretty much right on all points in my opinion. The difference is that you sold when there was still something to sell. At $0.039/share I'd rather let it just go to zero on the off chance Leo manages to sell the company.
I can admit my mistake though. It was one of two things
1. I thought Leo and team were competent enough to advance this pipeline and that they're appraisal of the pipeline was at least somewhat in the realm of reality.
2. I thought Leo and I were on the same team. I realize that I might simply be funding an annuity for Leo's benefit that he bought with his loan back in 2012. Silly me, here I thought I was investing in a legitimate drug company. Wouldn't be a first for me, probably won't be the last.
I'm not sure which it is. If he liquidates the company and distributes the $0.018/share in cash back to shareholders then maybe it's #1. If he bleeds us dry continuing to collect salary with no performance then it's #2.
I feel like we don't really need to wonder about B-COVID any more at this point.
It would be best if we could get info on how we're going to move forward with OM and UC along with whatever this new compound is.
Holding IPIX is a lot like my time as an altar boy. Struggling with my faith and a sore backside week after week, month after month, year after year.
Don't worry. They can't hold us down when the news arrives.
Come on Leo. We're your faithful Brileivers.
Deliver us unto the pot o gold!
Well, last day of February tomorrow. Seems like just yesterday we were firing up recruitment for our COVID trial.
Still no results.
Anticipation building.
Release the nothing burger and let us go to $0.03 already Leo!