I should have been more clear, I was responding to your "clawback" possibility. My point was that it would take the form of a license assignment clause.
You mentioned CytRx, which is an interesting case. They have 40 MM shares fully diluted, with an effective market cap of about $40 MM currently. Not far off from ours, given we have about 220 MM shares fully diluted and our sp is $.20. Their balance sheet is solid, with ample NWC. Their pipeline is not as attractive as ours, in my opinion, though P and K are such huge question marks and we don't have a licensing agreement with anyone (yet). They and their management and directors have been involved in several securities class actions and complaints, and are settling some while others are pending. Some of their cash may be lost soon. The market certainly isn't giving them any love, but it goes to show that biotech investing involves enormous risks and the equity value can be extremely volatile.
I don't think the story is over for IPIX. I do think this is a tough situation we're in and the handling of the P Phase 2B clinical trial was horrendous. I also think management has now come reasonably clean on our situation and is doing what they can to keep this company going and get to success, and a B license deal and good P results are the keys. (Not bogus stock patterns or conspiracies or the "genius" of management, for any out there who indulges in that silliness.)
With the Prurisol debacle, they now have no slack in their balance sheet nor in their credibility. It's getting down to the wire.
News 
Market Data 
Discover 
AI
