Innovation Pharmaceuticals Inc (IPIX)

[FarmaZutical]

After tomorrow, the only thing I expect my (luckily reduced) pile of shares to be good for is a tax offset.

One non binding term sheet after how many confidentiality agreements ? 20 ? That’s underwhelming.

And I now realize that the milestones were BS all along. If the CEO is able to predict at this time that the FDA won’t grant BTD, surely he would have known when the PR was sent out. Still 19 days to go. How come he’s able to call it off already ? Because they either never filed or filed so late that the Sep. 30. deadline was never realistic in the first place.

Sadly, the CEO has driven this company into the ground with a steady hand. I have been optimistic along the way because of the science but sceptic because of the amateurish pumping by the CEO. I gave him the benefit of the doubt but should have listened more to my gut feeling. Luckily, I did and sold a good part of my shares. But not all. And emotionally, it feels very empty that the compounds that could have helped so many in need most likely will never make it to an NDA.

“Obama, we’re ready.”Do you remember that one ? That PR alone should have made me run for my life. But again, I deviated from my own rules of never investing in a company with a CEO that I don’t trust. I was blinded by the science.

I was hoping that the great compounds would make it to market DESPITE a flawed management team.

I’ve not lost a fortune. But I’ve invested to much time and emotions in this company hoping it would be able to help a lot of people.

I will never make this mistake again.