Innovation Pharmaceuticals Inc (IPIX)

[Amatuer17]

Your logic is good but there are some changes needed imho

1. The multiplier of 9 that you applied is applicable typically to approved drugs - even there it differs based on which category of drug and price capability

As the product is still in P2 and may need 1 or 2 P3 studies - the multiplier may drop to between 2-3

2. One needs to show that the drug can reach $1 B revenue

3. The share count is already around 200 million - when you include warrants and stock options and class B shares. They are counted during BO

Unless BO happens immediately there will be dilution so the share count to be considered will need to be 250 million at least