Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

"As much as antibiotics are needed, there seem to be few companies wanting to deal with putting up dollars for the research."
No doubt that IPIX would agree. Was it true in 2015 when the trials were undertaken and when this was the Company line?

"“It has been decades since a new class of antibiotics has made it to phase 3,” said Dr. Daniel Jorgensen, Cellceutix’s Chief Medical Officer. “Brilacidin is unique in its structure and function. As an antibiotic, it is can kill bacteria that are resistant to other antibiotics, such as methicillin-resistant Staphylococcus aureus (MRSA), a major cause of ABSSSI. And we believe that resistance to brilacidin is unlikely to occur. As for brilacidin’s immunomodulatory activity, we are just scratching the surface.”

Although ABSSI may appear to be a crowded space, the Company believes that brilacidin has several advantages over existing ABSSSI therapies."
(October 30, 2015
Cellceutix Provides Brilacidin Update; New Class of Antibiotics to Enter Phase 3)


Was the mistake, if there was one, to blow a lot of money on a drug they couldn't take to market because of a lack of funding and/or an inadequate potential profit, or to give up after establishing its likely efficacy?