Innovation Pharmaceuticals Inc (IPIX)

[Lemoncat]

COVID.

COVID hypetrain brought in a ton of money that the company could not otherwise have raised. Remember our share price was $0.06 with like $700K cash and $7M in liabilities in early 2020. We raised money during COVID 5-10x more efficiently than if we tried to do it with just B-OM - truthfully we wouldn't have been able to raise $10M...pre-COVID IPIX essentially failed.

Now we have some cash padding. Not enough to run a trial but several years worth of salaries at least.

Also, COVID screwed with many clinical trials even if we had the money.