Innovation Pharmaceuticals Inc (IPIX)

[frrol]

Those aren't lies and deception, they're missed milestones and expectations. That's biotech, as you know. It's disappointing, and our management has its share of misses and screw-ups, but they're not deceptive liars. That's way too cynical.

A great example is the missed Prurisol interims. They did not lie or deceive. They just stayed silent. Not admirable, but not lying, either.

The company shot themselves in the foot with this PR and gave the impression that we will be financing B-OM on our own. Might be true but doubt it. The share redemption and warrant cancellation clauses in the purchase agreement would likely be used only if we got a partnership and other cheaper financing.

I think the PR was just poorly worded. Hopefully the company will provide clarity but I'm not sure how.