Innovation Pharmaceuticals Inc (IPIX)

[keltoi]

From the news letter

"Cellceutix Corp. (CTIX) For those who missed it, in an alert last week, Patrick covered CTIX’s abundance of positive data that sent shares up 15%. Therefore, we will stick to the company’s earnings and financial position in this update. The pre-revenue company reported a net loss of $3.0 million, up from $2.6 million the same time last year. The additional net loss is a result of higher operating and research & development costs, a common condition for an early-stage company. The company’s balance sheet showed a total cash position of $5.5 million, which is down from the second quarter. At the current burn rate, CTIX has enough cash on hand to fund operations for two more quarters. However, since the company has delivered positive data on all three of its therapeutic platforms, we don’t believe securing additional funding will be difficult."

Kelt