Replies to post #233637 on Innovation Pharmaceuticals Inc (IPIX)

[BooDog]

The offering Vs. the purchase agreement Vs. the PR. No, I didn't catch the differences either in my quick glance. The Purchase Agreement is more descriptive.
I disagree with the way you formatted the statements. IPIX did not lock the milestone into only making a deal for brilacidin OM in either the 8K, PR or purchase agreement. Though I think it most likely will be the mark there is the potential for a deal along the dermatology lines. A deal for prurisol I think, would be beyond the Sept 30 date simply for further analysis and setting up for the next steps. That'll take some time. And we know kevetrin still needs to complete the formulation before that can be tested.





· $1,000,000 of additional securities, provided that on or before September 30, 2018, the Company announces that the U.S. Food and Drug Administration (“FDA”) has granted the Company’s request for breakthrough therapy designation for the Company’s Brilacidin compound in the indication of Oral Mucositis;


· $2,000,000 of additional securities, provided that on or before September 30, 2018, the Company announces that its Phase 2b trial of Prurisol on psoriasis has met its primary end point, which means a statistically significant increase (p<0.05) in the proportion of patients achieving at least a 75% reduction from baseline in PASI score (PASI75) while receiving Prurisol compared to those receiving placebo at the end of 12 weeks; and




· $2,000,000 of additional securities, provided that on or before September 30, 2018, the Company announces that it has entered into a licensing arrangement with a pharmaceutical company for any of the Company’s clinical assets that will include an initial payment to the Company of an amount in at least the double-digits millions of dollars.

Message in reply to:

All due respect to DaubersUP...no one else noticed the difference between the PR and the filing and if they did they didn't mention it...but I'm not sure that it was a "nice" find.
1. Moving from the PR's "any of the Company’s clinical assets" to the filing's "the Company’s Brilacidin compound in the indication of Oral Mucositis" may have added some specificity to our understanding of the agreement but in doing so it also eliminated all of the Company's other drugs/indications from qualifying for "$2 million upon announcement of the Company entering into a licensing arrangement with a pharmaceutical company for any of the Company’s clinical assets that will include an initial payment to the Company of an amount in the double-digits millions of dollars." That's not so nice.
2. At the moment of the filing the share price had already moved to $.48. "Clarifying" that the subject of the Fourth Purchase Shares was B-OM didn't result in a significant, lasting bump to the share price as one might have expected it to had the market appreciated the likelihood that a deal had been signaled as has been suggested here. It seems as if moneyed people who follow these things don't share in the enthusiasm for this nice find.

DaubersUP wasn't locking t in just for brlacidin either, it is his WAG.

Quote:
Posted by: DaubersUP
In reply to: None Date:7/5/2018 4:32:23 PM
Post #233552 of 233595


Here is something interesting. So in the PR Agreement with Aspire:

· $2 million upon announcement of the Company entering into a licensing arrangement with a pharmaceutical company for any of the Company’s clinical assets that will include an initial payment to the Company of an amount in the double-digits millions of dollars.

www.ipharminc.com/press-release/2018/6/28/innovation-pharmaceuticals-announces-7-million-milestone-funding-agreement-with-aspire-capital


Here is from the Purchase Agreement

Provided that on or before September 30, 2018, the Company announces the BD Agreement, and provided that the closing price of the Common Stock on such Date of Announcement was equal to or greater than $0.50, then, on or before the second Business Day after the Company announces the BD Agreement, the Company shall sell to the Buyer, and the Buyer shall purchase from the Company, the Fourth Purchase Shares and the Buyer shall pay to the Company as the purchase price therefor, via wire transfer, Two Million Dollars ($2,000,000) (the “Fourth Purchase Shares Purchase Price”). At the Buyer’s discretion, in lieu of purchasing the Fourth Purchase Shares or part thereof, the Buyer may elect to purchase Pre-Funded Warrants. The price for each Pre-Funded Warrant purchased in lieu of Fourth Purchase Shares will be the result of multiplying (x) the number of warrant shares that the Buyer may purchase under such Pre-Funded Warrant by (y) a number equal to the Fourth Purchase Price reduced by $0.01. The exercise price for each warrant share will be $0.01, and the Fourth Purchase Shares Purchase Price shall be reduced by the aggregate exercise price for the Pre-Funded Warrants purchased in lieu of Fourth Purchase Shares.


(c) “BD Agreement” means a significant licensing arrangement with a pharmaceutical company that will include an initial (“up-front”) payment to the Company in an amount in the double-digits millions of dollars and will arrange for such pharmaceutical company to undertake the continuing development of the Company’s Brilacidin compound in the indication of Oral Mucositis, including the conducting and funding of clinical trials aiming towards the filing of an NDA.
https://www.bamsec.com/filing/147793218003269/4?cik=1355250






So to me ----- I think B-OM will be our first license deal!!! At first based on the PR and 8-K it makes it sound like any of the company's assets with a double digit million upfront could be in the works, but when you hammer it out into the details of the "BD" (Business Development) details it clearly states OM.

Interesting.

[DaubersUP]

Okay. IMO I believe IPIX has extreme confidence in hitting all 3 milestones. As I’ve stated, this setup is dilution as it was previously but this way allows a bigger lump sum to change hands quickly and it more than anything is sparking excitement here. Which is perfect for you as you like the board chatter. I think it’s a stair stepping finance agreement that they know which milestone will hit in order. IMO.

IMO. B-OM deal is all but dried ink.