Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

"Recall prior to COVID we had $600K cash with $7M in liabilities. We had no way forward at that point for the other indications. We were heading to the auction block and it wasn't going to be pretty."

That's revisionist history (depending on when you mean when you say "prior to covid").

October 2, 2020
INNOVATION PHARMACEUTICALS ANNOUNCES PRE-IND MEETING REQUEST GRANTED BY FDA FOR THE STUDY OF BRILACIDIN FOR THE TREATMENT OF COVID-19

As of September 30, 2020, the available Aspire balance was $27.1 million and the Company had $7.3 million in the bank.
AT THAT TIME per the Active Clinical Development Programs table in the 10Q the clinical status of B-OM was "Phase 3 in preparation" and B-UC was "Phase 2 UC Safety/toleration/PK and Proof of Concept in preparation".
"For Brilacidin overall, we see significant potential in treatment of COVID-19 (by the IV route), and in treatment of Oral Mucositis (by oral rinse) and IBD (by oral capsule)."

"Recall prior to COVID we had $600K cash with $7M in liabilities. We had no way forward at that point for the other indications."
My facts..annd the Company''s facts are different than your facts. He had ways forward and he made a choice. So far, when financing has been accessible, his choices haven't had positive results.

It could be argued that he couldn't know whether B would be effective in the trial he ultimately decided to run, but so far it looks like he gave up two birds in the hand for one in the bush.