Innovation Pharmaceuticals Inc (IPIX)

[F1ash]

"I say negotiate for one drug and get the share price going and stop the drama."
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I have the feeling there is very little chance of Cellceutix getting greedy this time if Prurisol results hit their marks in this trial. I just looked at some data about the following deal and it sure seems to put a similar deal in play for Cellceutix. Guess who manufactured Prurisol for the current trial.

"Under the terms of the deal, Dr Reddy’s will receive exclusive US rights to develop and commercialize XP23829 for all indications. In exchange for these rights, XenoPort will receive a $47.5 million up-front payment and an additional $2.5 million for transfer of certain clinical trial materials to Dr Reddy’s. XenoPort will also be eligible to receive up to $190 million upon the achievement of certain regulatory milestones by the Indian firm, which could be achieved over a period of several years. In addition, XenoPort will be eligible to receive up to $250 million upon the achievement of commercial milestones, and up to mid-teens royalty payments based on potential net sales of XP23829 in the USA."

"Dr Reddy’s plans to develop XP23829 as a potential treatment for moderate-to-severe chronic plaque psoriasis and may potentially develop XP23829 for relapsing forms of multiple sclerosis (MS)."

http://www.thepharmaletter.com/article/dr-reddy-s-buys-us-rights-to-xenoport-s-psoriasis-drug-candidate-xp23829


A similar deal would cover B-ABSSI's expected costs dilution free. I believe that's the plan at this point.