Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

"I feel that IPIX did have a reasonable belief that Prurisol, later B for OM and even B for IBD issues could be successful."

That's interesting, but maybe you missed this:
"Can you relate that to B-OM and Prurisol at 6/29, 9/11, 9/30 and 12/14/18?"

Because I didn't question whether IPIX "did have a reasonable belief that Prurisol, later B for OM" could EVER be successful. I should hope they did. And I've been pretty good about not calling them frauds or idiots.

My question related to the timing...when they actually concluded, or in fact KNEW, that success in the two drugs that were the subjects of the milestone agreement was "unlikely". I'm repeating myself at this point.
The digressions, while fascinating, aren't answering the issues presented.
I hate to assume your intended meaning but I guess I have to:
You believe that on 6/29 they felt that it was likely that they would achieve the three milestones (B-OM BTD, Prurisol meeting endpoint, a deal on any drug w/10M upfront) and that they only came to the conclusion that it was unlikely that they would meet ANY of them at some point(s) between that date and 9/11. And that in spite of their recognition of the Prurisol unlikelihood on 9/11 they really didn't know that "The investigational treatment Prurisol did not meet the primary endpoint in either treatment arm" until December 14th.
True?

Is it unreasonable for a person to consider that an 0 for 3 performance on such major items given the information available to management at the time they tried to leverage them into some funding was at least ill conceived (versus idiotic) and may have had as its primary purpose to secure the initial $2M in funds versus the actual attainment of any goals that lead to milestone money (which might be deceptive but not fraudulent)?

I'm out of ways to ask the question.