Innovation Pharmaceuticals Inc (IPIX)

[PlentyParanoid]

ffrol, you are probably right about issues with prurisol originating from CRO side. What scant evidence we have points to that direction:
At the end of Q1 2018 IPIX had minimum financial commitment to CRO and "Expenses are recognized when services are performed by the contract research organizations". Either CRO had work still to be done or was waiting to be paid for work recently finished. In either case $1M is a lot of payable hours. Pointing the finger to CRO does not take IPIX off the hook. I suspect IPIX may have initiated this mess by putting pressure on CRO. And we have the classical too many cooks ...

IPIX Financial Obligations to CRO
2017-Q2 -- Commitment: $6.0M
2017-Q3 -- Commitment: $4.0M -- Quarterly Burn: $2.0M
2017-Q4 -- Commitment: $2.7M -- Quarterly Burn: $1.3M
2018-Q1 -- Commitment: $1.0M -- Quarterly Burn: $1.7M

Considering that 2017-Q3 burn rate probably has some residuals for the work with Brilacidin the above would make the average monthly cost for prurisol related CRO services to be about $0.5M. That would translate at the end of Q1 2018 to about 2 months of additional work. Feel free to disagree.