Innovation Pharmaceuticals Inc (IPIX)

[Lemoncat]

The Alfasigma partnership is worth up to USD $24 million plus royalties and this is for a super small market indication.

If it does $100M/year for 10 years that equals $1B in revenue.

IPIX will get $24M in development + 2% ($20M).

That means AS paid $420K upfront and took on the trial costs to give us a 4.4% share of the sales on $1B of revenue.

If B-UP averages $200M/year or $2B over the lifetime it becomes closer to a 3% share of revenue.

The key is that B-UP is definitely at least somewhat effective and we still got swindled.

The obvious connection here is that it's easier for LE to sell Kevetrin and the broader Brilacidin indications to thirsty, unknowledgeable OTC investors than it is to sell to seasoned pharmaceutical companies.

We like to think Leo is just holding out for better...or maybe that he just overestimates what he has. At this point though, I think Leo knows what he has and has leveraged it beautifully to his own ends. I just wish his ends and shareholder ends were more closely aligned.

Leo's collecting $500K/year with very little oversight and probably very short work weeks from what I can tell. That beats the hell out of slogging away down at a TurboTax call center. Good for him. Not so great for the rest of us paying him.