Innovation Pharmaceuticals Inc (IPIX)

[frrol]

Some musing on term sheets. We bankers do term sheets. It's the first step once we've done initial DD and are interested in making the commercial loan. The subsequent DD is to make sure the borrower's collateral, reputation and prospects, and ability to pay are truly adequate. For a BP, it would be to do a final, deep dive on the drug data and getting more details. For our situation, it no doubt also includes waiting on the BTD verdict. (Though again, a deal itself is not necessarily contingent on that, just the final terms.) A term sheet is kind of like an engagement to get married. And let's just say: the bride is assuredly on her best behaviour.