Would Aspire have entered into the agreement they made knowing IPIX had that kind of nut to crack? They only got $2 million from Aspire at that time. This was one of the milestones:
“$2 million upon announcement of results from the recently completed Phase 2b trial of Prurisol as a potential treatment for moderate to severe chronic plaque psoriasis showing that the trial has met its primary endpoint.”
I think some clarity from Leo would help but it’s hard to see why Aspire would have made the deal they did knowing IPIX didn’t have enough to get the results that would allow them to reach one of the milestones.
Maybe Aspire has been selling since early August and that’s why we were never able to clear the basement on share price.
Thanks for that bit of do diligence. As previous posts have noted in this adds to those previous posts it looks like a Leo knew all along that he owed another 4 million bucks and is just waiting for deal to come through to pay it. Drinking some Kool-Aid here it might be that he was so sure of a deal that he didn’t raise the whole 8 million upfront and then raised enough money from aspire to keep the lights on until the deal was finished. As long term investors he may not have even concerned himself with the market reaction if there were delays. We will see it’s a lotto ticket today you place your money you take your chances
8 million seems high!!! Don't recall the last P trial costing anywhere near that figure? Also, why issue a lock PR when the estimates had to be known? I'd rather Leo not issue a PR and explain the money is needed for other costs... Now, everyone is more confused and even the Aspire rep who thought P had a significant chance. Poor communications as always!!!
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