Innovation Pharmaceuticals Inc (IPIX)

[BonelessCat]

According to the SEC and EDGAR filing rules: 1.01 requires the disclosure of material definitive agreements entered into by a company that are not made in the ordinary course of business. so, it doesn’t matter if the event is material, if it is normal, everyday business.

Isn’t manufacturing a drug “ordinary course of business” for a biopharma startup entering or continuing clinical trials? Seems to me a biopharma cannot test product without product. I might be wrong, but I don’t see any events in the list of form 8K or 1.01 amendment that triggers covering a straight forward formulation and manufacturing contract that is a normal course of biopharma business.

Yes, it would be nice if Leo included that the drug manufacturing and packaging can carry through to market, but I’d argue that already exists in the “commercial-grade” language in the Evonik (or whatever it’s called) PR, a PR that reported a “normal course of business.”