Innovation Pharmaceuticals Inc (IPIX)

[zandant]

"PRURISOL
On December 14, 2018, the Company completed 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 will discontinue the Prurisol psoriasis program, focusing development efforts on advancing its other clinical assets, Kevetrin and Brilacidin, both of which have shown therapeutic potential in treating multiple indications."

Ehrlich buried the news of P's failure until it showed up later in a financial report. He lost more of whatever credibility he had left after the P debacle.