Innovation Pharmaceuticals Inc (IPIX)

[Lemoncat]

We had two routes in 2016:

1) Sign the deal or raise the cash and go to phase 3 on ABSSSI. This would provide immediate gratification and met expectations.

2) Take a step back and further develop Prurisol, B-OM, and B-UP.

This moved us back to being a phase 2 company rather than an phase 3 + partnership expectant company (ouch 1)
Prurisol failed after two large phase 2 trials and much squandered treasure (ouch 2)
B-UP and B-OM had pretty good results but also cost money and have not yet created a deal (ouch 3)

So we are in effect still paying the price for going route #2 but have not yet reaped the reward of doing so. The reward is a theoretically larger deal for B indications. We can't weigh which path would have been better until the final verdict is in on the pending B deal.

We'll know soon. It's in everyone's interest to get serious about deal-making now. If Leo was not realistic before, I suspect he'll be more down-to-earth with regard to deal terms now. We can have a very successful closeout of this investment without even mentioning the word "billion". Let's reserve final judgement when the score is in.

$IPIX Deal time.