June 29, 2018
Innovation Pharmaceuticals Announces Database Lock for Phase 2b Trial of Oral Prurisol for Psoriasis
(Resolved in December)
There was an issue of non-payment of a substantial CRO bill that was floated as an explanation IIRC.***
That PR was sandwiched between two releases with the following headlines:
June 28, 2018
Innovation Pharmaceuticals Announces $7 million Milestone Funding Agreement with Aspire Capital
("Under the Agreement the Company can receive an additional $5 million based on clinical, regulatory and business development milestones to be reached prior to September 30, 2018.")
July 17, 2018
Innovation Pharmaceuticals Signs Drug Product Manufacturing Contract with CoreRx to Formulate and Package Brilacidin for Oral Mucositis in Sachet Form
“He's the "Gold Standard" of CEO's and worth every penny”.
Not based on the performances noted above.
***The 10-Q filed in said this:
"We currently await statistical analysis of the results pending payment by the Company of amounts due to the research organization resulting in part from cost overruns. A partial payment was made recently after the Company secured additional financing, with additional payments planned."
The 10-Q Prurisol section ended this way:
"We have entered into multiple non-disclosure agreements with pharmaceutical companies that enable us to continue ongoing discussions regarding potential partnering should the trial results support such a relationship."
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