Replies to post #248330 on Innovation Pharmaceuticals Inc (IPIX)

[Here Today]

Thank you Daubers and all the other true longs for always taking the time to post what is factual and not just opinions of despair like some on this Board do daily/yearly/for years.

Much appreciated as a fellow long.

Ive always said - It's one thin when a board can be objective and state both sides of the coin, but it's another when some feel the need to just constantly spew BS!

[To infinity and beyond!]

my point is very simple: PR says talks open ongoing or some such vague language.

Signed term sheet was specific.

And we are now clearly in vague territory now, correct?

The deal fell through
And there will not be a BTD without a miracle this week

No BTD No term sheet=fire sale/lousy deal/say goodbye to IPIX assets we shoulda benefitted from

[farrell90]

Thanks for the DD and sharing the results. Great post which needs to be stickied.

Highlights the important points in the last 10Q:

...11/8/2018 10Q shows IPIX is in discussions for all of its pharmaceuticals with multiple companies including multiple global and specialty companies. The company may be party to discussions and term sheets including for both global and/or territorial licensing {my summary}:


The serial reports in your post confirm the progression in IPIX's confidence with potential partnership and licensing agreements.

From 5/2018

" ...we released results from our completed Phase 2 Brilacidin study on Oral Mucositis. The results have attracted inquiries, additional confidential disclosure agreements, and discussions with pharmaceutical companies"

From the 1OK in 9/2018:

"The Company signed a non-binding term sheet in August 2018 with a global pharmaceutical company for the licensing/rights to Brilacidin for treating oral mucositis and inflammatory bowel diseases. Initial payments, milestone payments and royalties are being negotiated in accordance with the non-binding term sheet. The pharmaceutical company is now engaged in further due diligence..."

Now the 11/8/2018 10Q shows IPIX is in discussions for all of its pharmaceuticals with multiple companies including multiple global and specialty companies. The company may be party to discussions and term sheets including for both global and/or territorial licensing:

{The first sentence is new information}

"The Company is actively engaged in business development and licensing initiatives with multiple specialty and global pharmaceutical companies across its entire pipeline of drugs. From time to time, the Company may be party to various indications of interest and term sheets and participate in preliminary discussions and negotiations regarding potential licensing or partnership arrangements. It remains the Company’s primary objective to complete licensing deals, territorial and/or global, to provide access to non-dilutive capital to advance clinical assets forward in the most expeditious and cost-effective manner. The Company can make no assurance that partnerships will occur, but is committed toward executing on these potential alliance and partnership opportunities.

GLTA Farrell

[Yooper61]

It remains the Company’s primary objective to complete licensing deals, territorial and/or global, to provide access to non-dilutive capital to advance clinical assets forward in the most expeditious and cost-effective manner.


The word “territorial” was added for the first time. I’ve often wondered why they didn’t do a territorial deal vs. the last two equity raises. Maybe that's what's coming.

[frrol]

A couple things to note. None of that is inconsistent with the current B term sheet being dropped. They first used the all- important term "negotiation" in May. That was what investors were looking for and I was really pleased. They stopped using that term in the recent 10Q. `Negotiations' may be over, the terms set. I doubt it. The deal may be dropped. I doubt that too. But they also stopped mentioning BTD. So who knows. I'd like to see an "aside" mention of BTD application next week in the IBD presentation but that's a stretch. Better, I'd like to see a BTD announcement next week, 60 days after we applied. We'll see.

The company's optimism about lab space is good to see, but subletting it implies we aren't gonna use that particular space for quite a while. It's not like renting an apartment for a month. I'm hoping that we are subletting just some part of it. That is certainly consistent with Leo`s wording. But his other wording is confusing. If we're "focused on conducting clinical studies", don't we need that space? And what clinical studies? We aren't. He may have meant to write pre-clinical studies, which we are, or meant clinical study analysis.

[rmzport]

Great post Daubers. Nice dig on the facts.

[CallMeCrazy]

Excellent post-DaubersUP.

Reading between the lines, as you suggest, it seems to me that Leo has been working to strike a business deal for a bit over a year now and, despite IPIX's weak financial position, he knows that our pipeline is valuable and he is unwilling to strike a poor deal that yields a small fraction of what IPIX's pipeline, or any part thereof, is actually worth.

I find it heartening that Leo has been at this for more than a year and has not struck a deal. Our pipeline has broad implications and there are many variables to be hammered out.

I think after BP completes their due-diligence, part of which is coming to understand that Leo's not going to give away the store, then a deal will be forthcoming. I don't know when that will occur, but sucker deals usually occur rather quickly.