Innovation Pharmaceuticals Inc (IPIX)

[PlentyParanoid]

Rain squalls on the home ridge - there went my biking. But maybe a blessing in disguise ... we have a discussion here.

To me it looks like this CRO is using actual cost of work-unit completed for billing, not per-cent completed of fixed price project. Also, if IPIX has a fixed price contract for phase IIb clinical trial I would expect the total price had shown up somewhere in IPIX SEC filings, not just "we pay as they bill us" kind of statements with ever changing financial commitment.

Most importantly, with fixed price project I have in my mind it would be CRO eating the cost of overruns plus paying IPIX penalties for being late. My bet is Leo would have felt obligated to let us know about that kind of bad luck.

But maybe I am wrong.