Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

"What I don't get is why now just out of the blue"

I think that's a very good question! Especially since the answer provided by the Company in the 10K doesn't seem to make much sense:
"In September 2022, the Company, after a review of its assets and opportunities, discontinued its Kevetrin program in oncology due to reduced patent life and the added research and development costs for oral delivery of the compound."
As previously noted here the Company's own Intellectual Property Table says that the patent (the infamous Menon/Aruda patent of 2012) expires in 2030. Btw that's from last year's Table.....no Intellectual Property Table was provided in this year's 10K. What reduced patent life is He talking about?
And look what he is giving up!:
"The Company has agreed to pay the assignors 5% of net sales of Kevetrin in countries where composition of matter patents have been issued, divided 2% to Dr. Menon, 2% to an unaffiliated third party, and 1% to Leo Ehrlich, our CEO, and 3% of net sales in other countries."
I wonder if Aruda knows the Company dumped out of his potential future revenue producer?

And the "added research and development costs for oral delivery" piece of the explanation....who said that oral delivery was a critical element to the ultimate success of the product? You know who. Leo giveth and Leo taketh away. IF, and I do mean IF, there have been indications of Kevetrin's efficacy they haven't involved or required oral delivery. The very idea that he had the temerity to belabor the obvious to tell you that people would rather take a pill than a needle in the arm should've been a red flag. It wasn't, was it?

"What I don't get is why now just out of the blue"
He'll never say it...he can't...but the prospects sucked and he couldn't sell them any longer.