Innovation Pharmaceuticals Inc (IPIX)

[TheHound]

From the most recent 10-K:

There are doubts about our ability to continue as a going concern.

We have generated revenue of $0 and $18,000 for the fiscal years ended June 30, 2023 and 2022, respectively and have an accumulated deficit of $125.3 million through June 30, 2023. These factors raise substantial doubt about our ability to continue as a going concern.

We need to raise substantial additional capital in the future to fund our operations and we may be unable to raise such funds when needed and on acceptable terms, which could prevent us from fully implementing our business, operating and development plans.

We currently have an approximate $1.0 million cash balance as of the date of this filing, but that is insufficient to complete the development and commercialization of any of our proposed products. We expect to incur costs of approximately $1.8 million in the upcoming fiscal year ending June 30, 2024 to operate our business in accordance with our business plans and budgets.

We have limited experience in drug and formulation development, the conduct of clinical trials, and may not be able to successfully develop any drugs.

Development of pharmaceutical products is a risky and time-consuming process subject to a number of factors, many of which are outside of our control. We are subject to regulatory authority permissions and approvals, most importantly the FDA. Our drug candidate(s)/indications are at early and mid-stages of development. Consequently, we can provide no assurance of the successful and timely development of new drugs, and the failure to do so could cause us to cease operations.

We may elect to deregister our common stock under the Exchange Act and suspend our reporting obligations. Such deregistration and suspension would result in less disclosure about us and may negatively affect the liquidity and trading prices of our common stock.

SEC Filings https://www.sec.gov/cgi-bin/browse-edgar?company=Innovation+Pharmaceutical&owner=exclude&action=getcompany