Innovation Pharmaceuticals Inc (IPIX)

[Yooper61]

Good post. In the void of information, I can no longer assume good business judgement. I’m dumbfounded by the Aspire milestone miss and now the P failure.

I never invested a dime for P science, but I did invest for my false assumption of good business sense. Especially from a Michigan MBA. The Case Report Forms should have given them evidence to base the decision to forego the interim look. I was in the camp, if in doubt take the planned interim look. Around the same time, Protagonist took an interim look at 65 patients in a 200+ patient trial. They stopped the trial and saved their stock holders millions. Our management teams decision cost us millions we didn’t have, dilution, poor bargaining position on B-OM, and stockholders holding their breath to see if the show is over.

Spending $1M on drug manufacturing or $19k a month on 12,000 square feet is not something a reasonable business person would dilute stockholders for, unless their was an appropriate, timely need to so. But these could just be more bone head decisions.