Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

"Why didn’t Leo PR when BTD was filed?"

It seems that no one else does it...at least I found no examples of it being done. The FDA doesn't report it and it seems that there's a universal feeling that the benefits gained by announcing the making of the request for a BTD are outweighed by concerns for the repercussions in the event of a rejection.

But in publicly announcing a financing agreement tied to the granting of a BTD this company has a reason to provide investors with that application date that makes it unique, so the norm isn't totally relevant. There may not have been a requirement to provide the date of the request but I think it would have been very appropriate for the Company to announce that it HAD BEEN SUBMITTED when the agreement was signed if that was the case.
Obviously they either didn't see it that way or hadn't made the request as of the agreement date (6/28).