Innovation Pharmaceuticals Inc (IPIX)

[wsbc]

‘Investors’, yes… but the average OTC penny-tosser isn’t likely doing deep-dives into complicated company filings (Leo’s banking on this to continue to stay afloat). To read the PR hype from Leo, you’d think everything were roses and lollipops as the company is apparently courted by RBL’s for their cure-all super-drug designed by ‘Nobel prize candidates’ and is here to save the world.

The reality is: If this trial fails, there’s nothing happening for years, literally… Leo has the cash now to continue to pay his 5x-industry norm salary for another however many years, while generating nothing but PR’s, all the while continuing to deliver exactly nothing of value to shareholders (as has been the case for the last 15yrs).

The thing that is utterly insane to me is: People aren’t angry and going after him for robbery and deception. Why?

This information was included in the IPIX 10-K for the period ended June 30, 2021. You can claim it was "buried", but SEC filings are required reading for investors.

From the 10-K
Quote:
IBD, Ulcerative Colitis (UC) — Brilacidin is also being developed as a treatment in more extensive forms of IBD.

Development of a delayed release oral formulation has been in progress, with development work expanding into immediate release formulations due to unexpected findings encountered. Such findings appear due to the inherent physiochemical properties of the compound, and those of polymers used to achieve delayed release. An immediate release, multi-particulate capsule formulation has been developed and a ‘research and development’ batch has progressed to stability testing at the manufacturing vendor. Further work is ongoing, in preparation for manufacture of clinical trial supplies.

Based on these recent findings, the development plan for ulcerative colitis has been adapted with inclusion of Phase 1 testing of the immediate release oral formulation. Clinical trials will be able to progress pending completion of clinical trial supply manufacturing (currently scheduled for January 2022) and securing sufficient working capital.

I am not in any way diminishing the fact that this is bad news.