Innovation Pharmaceuticals Inc (IPIX)

[F1ash]

You’re gesturing and the implications are all subjective. You are rationalizing and what you are staying is merely opinion based. Stick to the facts.

Ok just facts.

“During the period from October 25, 2013 to March 5, 2015, the Company had completed sales to Aspire Capital totaling 8,890,379 shares of common stock generating gross proceeds of approximately $20 million.

“During the period from March 30, 2015 to June 30, 2017, the Company had completed sales to Aspire Capital totaling 14.7 million shares of common stock generating gross proceeds of approximately $16 million


“From July 1, 2017 to September 1, 2017, the Company generated additional proceeds of approximately $2.1 million under the March 2015 common stock purchase agreement with Aspire Capital from the sale of approximately 2.6 million shares of its common stock.


8,890,379+14,700,000+2,600,000 = 26,190,379

I believe it’s safe to assume they have sold a minimum of 80% of the shares they have purchased (assuming they would need to report if they held over ~5 million shares at any one point which they did not do)

I’ll let someone else figure out what that dilution percentage was. Something like only 25% over 4 years? That’s not bad at all imho.

Here’s what they did with that money.

https://clinicaltrials.gov/ct2/results?cond=&term=Cellceutix+&cntry1=&state1=&recrs=

7 Clinical trials

Plus one overseas trial that isn’t registered on CT.gov

No one likes dilution but every single biotech that doesn’t have a drug approved yet must do it in some form. I believe management has spent funds judiciously.

Every share Aspire sells represents a roughly equivalent dollar figure that went into IPIX’s coffers to fund drug development.

A successful Prurisol trial and resulting deal would end the need for funds from Aspire for quite a while.