Innovation Pharmaceuticals Inc (IPIX)

[Ernesto]

You must be new to biotech. A successful phase 2 result typically results in a parabolic valuation increase due to massive de-risking of a drug on the clinical pathway.

This is especially true of immuno/oncology assets like Kevetrin due to the massive value potential. Antibiotics that near-clones of existing drugs rarely fail in phase 3 after successfully completing a phase 2.

We saw this increase in valuation last year after the excellent Brilacidin Phase 2b results as the stock approached $5. The stock has since suffered a libelous hit piece, a merit-less lawsuit and an inability to uplist onto the NASDAQ.

Every other piece of news, and there have been close to a dozen, have been very positive with the exception of the loss of UoB funding. This stock got the hatchet and did not deserve to. Hopefully an example is made of the perps.