Innovation Pharmaceuticals Inc (IPIX)

[MinnieM]

Based on the following 10-Q language, it's my guess that the funds were never spent to compile the final data beyond the initial review of preliminary topline results for Prurisol. Funds have likely been too tight to get around to additional analysis. That lack of funds is part of why the share price is in the dumps.

Watching the company share price has been reminding me of watching the final contestants on Alone shrivel away from lack of calories.

https://www.sec.gov/Archives/edgar/data/1355250/000147793219000383/ipix_10q.htm

Prurisol (discontinued)

The Company has terminated its Prurisol program for treating moderate to severe plaque psoriasis. On December 14, 2018, the Company completed its review of preliminary topline results for its Phase 2b clinical trial of oral Prurisol in moderate-to-severe chronic plaque psoriasis. Prurisol did not meet the primary endpoint in either treatment arm (300mg and 400mg) assessed as a measure of efficacy (active versus control) using the Psoriasis Area and Severity Index (PASI) scale—specifically, the proportion of subjects achieving at least a 75 percent reduction from baseline in PASI score (PASI75) at Week 12.

While additional analysis of the Prurisol data is planned, based on these trial results, the Company discontinued the Prurisol psoriasis program and will focus development efforts on advancing its other clinical assets, Kevetrin and Brilacidin, both of which have shown therapeutic potential in treating multiple indications.

As of December 31, 2018, the Company has recorded an impairment expense for all Prurisol capitalized expenditures in the amount of $0.2 million.

All that matters at this point is whether or not they get a decent Brilacidin OM deal. Self funding that ph3 would be tough at current share prices.







In Reply to 'Empiricst1'
Frrol, you know I respect your dogged dd and analysis. You also know I see P as somewhat of an embarrassment for IPIX, but never good to try and cram the dead body in the closet. Yes, it is probably a somewhat useless speculation, but one that still entices me. Hiding data that was paid for with scarce resources always raised questions, even when there is nothing there.