Replies to post #339068 on Innovation Pharmaceuticals Inc (IPIX)

[LilyGDog]

A very worth while read! Thanks,

Go Leo & IPIX!

Jhawker...

You are correct...referring to a landlord-tenant issue as "sloppy" and in some way is determinative of IPIX/Brilacidin's success or failure is beyond irrational...

Lease...non-issue

Besides being totally irrelevant to the science and task at hand of moving Brilacidin forward on Covid-19, UC and OM...

...as an aside to this non-issue, I, for one, am pleased the rent for this Commercial Space is not around the neck of the company.

In a billiantly thought out post...it was noted:

Quote:
"The Company has been unable to enter into a sub-lease agreement for this leased office on September 30, 2019.]" and that " The Company vacated the leased office space as of December 31, 2019, and in January 2020 the Company initiated a lawsuit against the lessor relating to an automatic extension of the lease for the office space and related matters (see Note 15. Subsequent Events to the condensed consolidated financial statements)."


Sloppy?...hardly.

In this year of Covid ... The Tenant who rejected IPIX's right to extend sublease...is probably (figuratively and financially) "Hanging from a Noose"... with vacant or tenants not paying rent!(Look for Massive Commercial Property Losses, Devaluation and Foreclosures just around the corner). Very few company's are USING OR EVEN NEEDS the Office space (and Lab functions are totally contracted out by Leo)...so this event is a NET GAIN to IPIX working virtually...and accomplishing all noted by FARRELL (below) and not paying for totally unnecessary space.

"Sloppy" ... is an accurate adjective for FDA BUREAUCRACY...not for LEO. (though no doubt even Bureaucracies are hit with Covid, causing staff shortages and delays too)

If one does not receive on the TIME TABLE PROMISED, INDICATED OR MANDATED...Private Sector companies (within reason) have to suck wind and wait...or they face retribution for complaining...

Then what would the "complainers" here say about retribution...? (We all know)

"Sloppy"... DOES NOT ACCOMPLISH THE LIST BELOW!

My advice...stop the hyperventilating...suck it up and be BIG GIRLS AND BOYS...and listen to FARREL (yesterday):

"My bet is news, and a lot of it, is coming soon.

GLTA,

Farrell9"

-2/18 Initial announcement of Brilacidin for Covid 19
-2/24 Material transfer agreements to virology labs
-2/28 Brilacidin sent to Regional Biodefense Labs {RBL)for study
-3/2 Brilacidin PDF outlines scientific rationale for use against Covid19
-3/9 Brilacidin studies planned at RBL
-3/12 Testing to begin 3/16
-4/1 Brilacidin effective against Covid19 in Vero monkey cells
-4/6 Early discussions of human trials
-4/20 Screening of 11,552 compounds shows Brilacidin a leading drug against Covid19 by inhibiting the M-protease
-4/27 Initial research confirms anti Covid properties more research planned
-5/5 PHRI studies announced
-5/19 Brilacidin reduces Covid 75% in preincubtion Vero cell study
-5/26 Brilacidin reduces Covid in human renal cell line; blocks viral cell entry
-6/11 Brilacidin study to include MERS and SARS pan corona virus testing; Grant application application made
-6/17 Brilacidin inhibits Covid 97% in infected Human respiratory cells
-7/7 Brilacidin active against Covid 19 before during and after Covid infects cells
-7/13 Human clinical trial planning/manufacture of Brilacidin announced
-7/20 Brilacidin at low dosage is effective against Covid19; lower than ABSSI dose
-8/4 Brilacidin shown effective against entire Covid life cycle
-8/24 Brilacidin Selectivity index among highest reported
-8/26 Dr Degrado announced as science advisor
-9/15 Brilacidin synergistic with remdesivir;reduces viral load almost 100%
-10/2 Pre IND meeting; Brilacidin human clinical trials
-10/30 RBL preprint article released; Selectivity index 426 one of highest achieved
-11/2 FDA pre IND response received;CRO secured
-11/16 Overseas CTA submitted;Brilacidin viral resistance unlikely
-11/30 New research for Brilacidin as a pancoronavirus treatment
FDA application submitted
-12/21 Brilacidin for phase 2 Covid study approved

[Jhawker]

I agree with your take! Thanks

[olden_grumpini]

Your statement about IPIX's lease obligation needs to be corrected.

Go to page 17 of IPIX's latest 10Q (IPIX 10Q filed on 11/16/20) and you'll see their lease obligations for 2021 through 2024 totalling $523,000. These lease payments are around the neck of IPIX and the shareholders are the ones "Hanging from a Noose".

To make matters worse, IPIX filed a lawsuit to try to wiggle out of their obligation. The lawsuit is doomed and is a further waste of time and money.

Posters on this board have pointed to the way this lease was handled as an indication of management competence. I agree.

[zandant]

So wrong on so many levels.

[loanranger]

You're right. The handling of the lease wasn't sloppy....in the same sense that the handling of the uplisting wasn't sloppy. Both were handled incompetently. Sloppy would have been better.

And it's laughable that you are "pleased the rent for this Commercial Space is not around the neck of the company" because IT STILL IS. The rent for the unused space is being paid monthly because they still have that obligation. Why not just stop? Take a look at the "Litigation" paragraphs of the Company's financing agreements.

"The Tenant who rejected IPIX's right to extend sublease...is probably (figuratively and financially) "Hanging from a Noose"... with vacant or tenants not paying rent!"
Did you mean LANDLORD? Nothing about that sentence makes any sense.

You are right about one thing. The lease issue was totally irrelevant to the science (as was the uplisting issue) except that it showed that the Company was inattentive at a critical time and I think the poster was suggesting that that might be something to keep an eye out for. I'm sure an announcement that a trial has started would relieve some of those concerns. That said, there's this:
"The Company anticipates commencing the Brilacidin for COVID-19 clinical trial in 4Q2020."
That statement was actually made DURING 4Q2020. But I'll bet you didn't need a reminder.