"I do not know how long Alfasigma has for response to a Right of First Refusal request if another company is interested in Brilacidin for gastrointestinal." You could if you wanted to...it's in the filed agreement:
2.3 Right of First Refusal for Oral Drug Product(s) in Ulcerative Colitis/ Crohn’s Disease (UC/CD) Indications. (a) If at any time during the Term, IPI (or any of its Affiliates) receives or solicits a bona fide offer from a Third Party which wishes to obtain rights to Develop, Manufacture and/or Commercialize an Oral Drug Product(s) in the UC/CD Indications in any country of the ALFASIGMA Territory, then prior to effecting any such transaction IPI shall notify in writing to ALFASIGMA the terms and conditions offered by that Third Party to IPI.
(b) If, within 30 days after IPI notifying to ALFASIGMA pursuant to Section 2.3(a), ALFASIGMA notifies IPI of its interest to such Development, Manufacturing and/or Commercialization rights, then the Parties shall negotiate in good faith a final binding agreement based on the terms and conditions offered by that Third Party, to add the Oral Drug Product(s) in the UC/CD Indications to this Agreement. If, despite negotiations in good faith, the Parties do not reach any such agreement within 60 days after receipt by IPI of the ALFASIGMA’s notice above, then IPI shall be free to grant such Development, Manufacturing and/or Commercialization rights to any Third Party at terms and conditions which are not substantially more favorable for such Third Party than those notified to ALFASIGMA, provided, however, that (i) in the event that terms and conditions are substantially more favorable for such Third Party than those notified to ALFASIGMA, IPI shall promptly notify thereof to ALFASIGMA and then the Parties shall have a new period of 30 days to negotiate in good faith a final binding agreement based on such more favorable terms and conditions, and (ii) subject to paragraph (i) above, no further negotiation options will be provided to ALFASIGMA thereafter.
(c) If, ALFASIGMA notifies to IPI of its lack of interest to (or within 30 days after receipt by ALFASIGMA of IPI’s written proposal under Section 2.3(a), ALFASIGMA does not notify IPI of its interest to such Development, Manufacture and/or Commercialization rights, then IPI shall be free to grant such rights to any Third Party at terms and conditions which are not substantially more favorable for such Third Party than those notified to ALFASIGMA, provided, however, that (i) in the event that terms and conditions are substantially more favorable for such Third Party than those notified to ALFASIGMA, IPI shall promptly notify thereof to ALFASIGMA and then the Parties shall have a new period of 30 days to negotiate in good faith a final binding agreement based on such more favorable terms and conditions, and (ii) subject to paragraph (i) above, no further negotiation options will be provided to ALFASIGMA thereafter.
(d) For the purpose hereof, the term “UC/CD Indications” means the usage of Oral Drug Product(s) for the prevention, treatment, amelioration, diagnosis or monitoring of Ulcerative Colitis (UC) and Crohn’s Disease (CD).
2.4 Right of First Negotiation for drug product(s) in Other GI Indications. (a) If at any time during the Term, (i) ALFASIGMA wishes to obtain the rights to Develop, Manufacture and/or Commercialize a drug product(s) containing the Compound (alone or in combinations with other active pharmaceutical ingredients) in Other GI Indications in any country of the ALFASIGMA Territory where IPI has not granted rights to Third Party at that time, ALFASIGMA will propose in writing to IPI the terms and conditions to obtain such rights and then the Parties shall negotiate in good faith a final binding agreement to add such drug product(s) in Other GI Indications to this Agreement; and/or (ii) IPI wishes (directly or indirectly through any of its Affiliates or Third Parties) to Develop, Manufacture and/or Commercialize such drug product(s) in Other GI Indications, IPI will propose in writing to ALFASIGMA the terms and conditions to grant to ALFASIGMA such rights to such drug product(s) in Other GI Indications. If, within 30 days thereafter, ALFASIGMA notifies IPI of its interest to such Development, Manufacturing and/or Commercialization rights, then the Parties shall negotiate in good faith a final binding agreement on commercially reasonable terms to add such other drug product(s) containing the Compound in Other GI Indications to this Agreement.
(b) If, despite negotiations in good faith, the Parties do not reach any such agreement within 60 days after receipt by IPI of ALFASIGMA’s written proposal under Section 2.4(a)(i), or by ALFASIGMA of the IPI’s written proposal under Section 2.4(a)(ii), as the case may be, then IPI shall be free to grant such Development, Manufacturing and/or Commercialization rights to any Third Party at terms and conditions which are not substantially more favorable for such Third Party than those notified to ALFASIGMA, provided, however, that (i) in the event that terms and conditions are substantially more favorable for such Third Party than those notified to ALFASIGMA, IPI shall promptly notify thereof to ALFASIGMA and then the Parties shall have a new period of 30 days to negotiate in good faith a final binding agreement based on such more favorable terms and conditions, (ii) subject to paragraph (i) above, no further negotiation options will be provided to ALFASIGMA thereafter.
(c) In the case under Section (a)(ii) above, if, ALFASIGMA notifies to IPI of its lack of interest to (or within 30 days after receipt by ALFASIGMA of IPI’s written proposal, ALFASIGMA does not notify IPI of its interest to) such Development, Manufacturing and/or Commercialization rights, then IPI shall be free to grant such rights to any Third Party at terms and conditions which are not substantially more favorable for such Third Party than those notified to ALFASIGMA, (i) in the event that terms and conditions are substantially more favorable for such Third Party than those notified to ALFASIGMA, IPI shall promptly communicate thereof to ALFASIGMA and then the Parties shall have a new period of 30 days to negotiate in good faith a final binding agreement based on such more favorable terms and conditions, and (ii) subject to paragraph (i) above, no further review options will be provided to ALFASIGMA thereafter.
(d) For the purpose hereof, the term “Other GI Indications” means the usage of any drug products containing the Compound (other than, for clarity, the Product), whether in the Formulation and/or other formulation, for the prevention, treatment, amelioration, diagnosis or monitoring of gastrointestinal diseases and conditions (including any Oral Drug Products in the Indications), in each case other than the UC/CD Indications.
"$24 million is more than the total today market value of Ipix. The market is not always correct." The market doesn't think that IPIX will realize those revenues any time soon and it has priced the shares accordingly. The market may not always be right but the price is always the price...and the market determines it.
It's morally wrong to allow a sucker to keep his money. ......W. C. Fields
