Innovation Pharmaceuticals Inc (IPIX)

[Ernesto]

About the only gripe you have is the uplist and it will be a minor thing in the long term. The pipeline was significantly weaker two years ago than it is now.

On Board of Directors:

There's nothing that isn't credible here. Could it be stronger? Sure. BoD is highly unimportant at this point. It doesn't affect our four main drugs or any partnership discussions.

On Uplist:

There may not be a good reason why we didn't uplist. In hindsight it looks like Leo probably dropped the ball on this. No one could have imagined with the pipeline progress and news we got this summer that the price would have gone below $2 or $4 for that matter. I personally am pleased that this occurred but from an objective perspective this was probably a slip up. The pipeline progress eclipses handily eclipses this.

On partners:

Why would CTIX partner on any of their products before demonstrating human efficacy similar to the stellar pre-clinical animal trials? This requires successful completion of phase 2 trials and is where the hyperbolic valuation increases occur.

Brilacidin is the only drug that has done that yet and Leo has clearly stated that they need to get conclusive results on the anti-inflammatory properties of Brilicidin-OM (finish phase 2 - about this time next year) before partnering or selling that drug.

Prurisol is rapidly moving through Phase 2 and will likely be completed in June 2016.

Kevetrin is wrapping up phase 1. There will be many willing partners for phase 2 trials depending on the secondary endpoints.

There is no reason for CTIX to partner early on any of these. Brilacidin and Prurisol will be completed and hopefully yield good results that we can turn into a good partnership or sale. Kevetrin may result in people beating down the door earlier on, otherwise it's quite a ways off.

In short, we have no partners because it isn't time yet.