Replies to post #22090 on Innovation Pharmaceuticals Inc (IPIX)

[edge]

Old news

[MinnieM]

What makes you think those shares are about to enter the market? The bulk of the shares listed are for Aspire and that filing was required by the purchase contract with Aspire. It doesn't mean the company is drawing on that loan at this time. It's in the company's interest to hold off until the share price is higher. We simply don't know when the company will draw from Aspire.

http://www.sec.gov/Archives/edgar/data/1355250/000135525012000054/purchaseagr_ex10z1.htm






In Reply to 'SJ2013'
I think today's action, timed with the release of the news, was simply to sell shares into the market. I was expecting much more news today as there is a lot of shares about to enter the market, maybe tomorrow or Monday we get more news.
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=8665070

[TOB]

No, that is incorrect.

First:

Those shares are not entering the market as sales. Rather it is a registration document for shares that will be placed to Aspire Capital when Cellceutix chooses to, and for the exercise of prior options and warrants.

As Aspire Capital is an investor betting on CTIX going up and the success of Cellceutix, there is no indication that they will sell any shares. Certainly not timed with this announcement as the majority are not placed yet.

That is the bulk of the registration, 7,000,000 shares, and based upon the current share price, the actual amount placed could be far less.

The other shares listed are the exercise of known options and warrants. When exercised the company must register them. Those exercising pay Cellceutix the amount due and are issued the shares.

The registration of the shares makes them available for sale, but we have no indication of if or when they would choose to do so.

Just like any of the other shares currently outstanding, including those I hold, the holders could intend to keep them for a much higher price, say $51.53, or company buy out, or intend to sell near the current price, or at any price they choose.

Second:

Beth Israel Deaconess is an Harvard University teaching hospital and part of the Harvard Cancer Center. Top tier Ivy League, they do not time news of pre-clinical studies based upon a public company's registration document.

The pre-clinical results are hugely important, not only is Cellceutix involved, but so is Pfizer. This is the second independent, and world renown cancer research center confirming positive pre-clinical results for Kevetrin. This adds more confirmation to the pre-clinical research done by Cellceutix. This also shows Kevetrin working with yet another front line cancer drug from big Pharma.

As they anticipate this leading to a Phase 2 Clinical Trial, it is highly likely CTIX shares will be valued much higher in the future.

But any shareholder can choose to sell, buy more, or hold depending on their own investment decision. The news makes selling the less likely choice IMO.