Replies to post #391967 on Innovation Pharmaceuticals Inc (IPIX)

[Lemoncat]

COVID.

COVID hypetrain brought in a ton of money that the company could not otherwise have raised. Remember our share price was $0.06 with like $700K cash and $7M in liabilities in early 2020. We raised money during COVID 5-10x more efficiently than if we tried to do it with just B-OM - truthfully we wouldn't have been able to raise $10M...pre-COVID IPIX essentially failed.

Now we have some cash padding. Not enough to run a trial but several years worth of salaries at least.

Also, COVID screwed with many clinical trials even if we had the money.

[steelyeye]

2019 was devoted to B for a variety of inflammatory bowel diseases, including rectum and "the pill" for oral use.
It was reported at a shareholder meeting that a B-OM deal was nixed when there was a change of CEO at an interested pharma. Leo may have thought other offers would be coming.
Then Covid hit in early 2020 and the focus shifted to anti-viral and anti-inflammatory aspects of B. But it didn't hit primary endpoints in Nov. 2021, so another pivot back to B-OM and hire a business development director to "get it done."
My speculation is that Leo has always had high numbers in mind for B indications, given the addressable markets, and shunned low ball discussions.
Perhaps there was push back from pharmas interested in B-OM, so Leo had the payer analysis done.
If anyone is interested, they now have current information about the addressable market and lack of viable candidates.
I hope the next PR is a term sheet.

in response to

So for the life of me, I cannot understand nor believe how Leo let this “Fire” that IPIX had after the FDA meeting concerning the results of the Phase II Clinical Trial and guidance for the Phase III trial just fizzle.