Still here...? That's funny... With 150M votes supporting Leo in the SH meeting a few days ago, nobody is selling and why should they?
The CEO and management team have actually accomplished quite a bit in the last several months, but these may have been missed. There is likely more to come.
The year started with receiving a new Brilacidin patent, followed by completion of gastric testing supporting development of an oral dosage form to treat IBD, with clinical development then underway. As recently as Sept. 16th the company announced “Successful Formulation of Oral Brilacidin Tablets; Upcoming Clinical Trial to Target Delivery to the Colon.” The trial is expected to start in the Dec. time frame.
In Feb. Leo established a European subsidiary for the company in Ireland and increased his equity stake (late January), and the company received an additional new patent for compounds used to treat oral mucositis using Brilacidin. (mid-February).
The European Medicines Agency granted IPIX a swift meeting after request (only two weeks interim), followed by the company reporting enhancements in manufacturing Brilacidin for a phase 3 study (April 9th).
On May 1st 2019 the company reported receiving the FDA minutes from their end of phase 2 meeting for B-OM held in Dec. 2018.
On May 16th the company announced a non-binding term sheet with a global Pharma to develop Brilacidin for Ulcertaive Proctitis/Proctosigmoiditis, and a few weeks later in early July of this year a first licensing deal with Alfasigma was announced.
On June 6th the company signed an agreement for advanced oral tablet technology with BDD, a company that has a prior and possibly ongoing relationship with Novartis, where President and Chief Medical Officer Arthur Bertolino, MD, PHD, MBA used to work.
At the shareholder meeting a few days ago the increased share authorization passed 150M votes “for” and 14M “against.”
Draw your own conclusions as to why the SP is so low.
Leo has disdained vulture capital, he has not done a reverse split, and reports being in active and ongoing high level negotiations with other pharmas for more licensing deals. http://www.ipharminc.com/press-release