Innovation Pharmaceuticals Inc (IPIX)

[F1ash]

No sir quite the opposite.

"In December, the FDA gave us permission to begin a Phase 2 trial of Prurisol for psoriasis. Subsequently, we have completed GMP manufacturing of Prurisol and placebo, engaged vendors and principal investigators and contracted with sites to begin the trial. We expect enrollment to begin in 2Q 2015. We are engaging the trial at more clinical sites than originally planned and expect to make up for lost time as the manufacturing process took longer then expected. Given that psoriasis is a chronic condition with limited effective therapies that the National Psoriasis Foundation lists as affecting 125 million people worldwide, we see a tremendous market opportunity for an effective new oral treatment. We expect enrollment in this study to be completed during 2015."