Replies to post #229762 on Innovation Pharmaceuticals Inc (IPIX)

[groton68]

SS just makes things up.

[scottsmith]

Yes I know what I wrote. But answer the question. How do you know it’s not a fact? Your dd is terrible.

[loanranger]

"Aspire is not happy with Leo and ipix."

Even if it can't be shown to be a fact it seems like a pretty reasonable assumption, doesn't it? I suspect that once in a while they would like to be able to sell some of the shares that they have been forced to buy (by agreement, of course) at prices that they expected to be going up instead of down.
I wouldn't be happy if I was them. Even though they're in the flippin' business I doubt that they expected things to go this badly.




September 11, 2017
Innovation Pharmaceuticals Secures New $30 Million Common Stock Purchase Agreement
Corporate

BEVERLY, Mass., Sep 11, 2017 (GLOBE NEWSWIRE) -- Innovation Pharmaceuticals Inc., (OTCQB:IPIX) (“the Company”), a clinical stage biopharmaceutical company, today announces that the Company has entered into a new $30 million common stock purchase agreement with Aspire Capital Fund, LLC (“Aspire”). Under the agreement, Aspire has committed to purchase over the next three years up to an additional $30 million of IPIX common stock based on the prevailing market prices at the time of each sale. The timing of the purchases will be at the sole discretion of Innovation Pharmaceuticals.

“We are thrilled to again extend our long-term funding relationship with Innovation Pharmaceuticals,” said Steven G. Martin, Managing Member of Aspire Capital. “We have invested $50 million in the Company in previous transactions. In that time, the Company has made tremendous progress, growing from a single drug candidate in one early clinical trial at the start of our relationship to now three drug candidates in mid- or late-stage development. Aspire Capital is extremely confident in this Company and its management team. We are very excited about the additional funding we can provide the Company under the new transaction. We believe that this additional funding will help the Company unlock tremendous value in its programs in the coming months and years.”

“For many years now, Aspire has been a tremendous institutional investor and financial partner to our Company and many of our successes to date are underscored by their unwavering support,” commented Leo Ehrlich, Chief Executive Officer at Innovation Pharmaceuticals. “Aspire’s new $30 million commitment combined with our cash on hand puts us in a strong financial position to continue our aggressive drug development strategies.”