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Innovation Pharmaceuticals Inc (OTCMKTS:IPIX) Launches on Positive Data

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As the covid cases spike back higher, it may pay to note that Innovation Pharmaceuticals Inc (OTCMKTS:IPIX) just announced that it has received data from ongoing laboratory testing being conducted at a U.S. Regional Biocontainment Laboratory (RBL).

According to the release, Brilacidin exhibited a statistically significant (p<0.0001) and potent inhibitory effect on SARS-CoV-2, the novel coronavirus responsible for COVID-19, in a human lung epithelial cell line—reducing viral load by 95 percent and by 97 percent, compared to control, at two therapeutic concentrations tested. Based on a CC50 value—the concentration of drug at which 50 percent of cells maintain viability—Brilacidin was also shown to be non-cytotoxic in the lung cell line.

Innovation Pharmaceuticals Inc (OTCMKTS:IPIX) promulgates itself as a clinical stage biopharmaceutical company developing a world-class portfolio of innovative therapies addressing multiple areas of unmet medical need, including inflammatory diseases, cancer, infectious disease, and dermatologic diseases.

Brilacidin, a versatile compound with broad therapeutic potential, is in a new chemical class called defensin-mimetics. A Phase 2 trial of Brilacidin as an oral rinse for the prevention of Severe Oral Mucositis (SOM) in patients with Head and Neck Cancer, met its primary and secondary endpoints, including reducing the incidence of SOM.

The Company plans to advance Brilacidin oral rinse into Phase 3 development, subject to available financial resources. Positive results were also observed in a Phase 2 Proof-of-Concept trial treating patients locally with Brilacidin for Ulcerative Proctitis/Ulcerative Proctosigmoiditis (UP/UPS). Brilacidin for UP/UPS was licensed to Alfasigma S.p.A. in July 2019. A Phase 2b trial of Brilacidin showed a single intravenous dose of the drug delivered comparable outcomes to a seven-day dosing regimen of the FDA-approved blockbuster daptomycin in treating Acute Bacterial Skin and Skin Structure Infection.

Kevetrin is a novel anti-cancer drug shown to modulate p53, often referred to as the “Guardian Angel Gene” due to its crucial role in controlling cell mutations and has successfully completed a Phase 2 trial in Ovarian Cancer.

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As noted above, IPIX just announced that it has received data from ongoing laboratory testing being conducted at a U.S. Regional Biocontainment Laboratory (RBL).

The chart shows a bit less than 140% added to share values of the company over the past month of action. In addition, the listing has benefitted from a jump in recent trading volume to the tune of just shy of 170% above the average volume levels in play in this stock over the longer term.

“Brilacidin has now demonstrated potent inhibition of SARS-CoV-2 in human lung and kidney cell lines, and in VERO cells, in laboratory testing conducted by independent academic researchers at two institutions, both of whom plan to submit their findings for peer-review publication,” said Leo Ehrlich, Chief Executive Officer at Innovation Pharmaceuticals. “The antiviral data we are compiling provides compelling proof of Brilacidin’s impressive ability to inhibit the novel coronavirus, toward initiating a clinical study of Brilacidin for COVID-19.”

Now commanding a market cap of $115M, IPIX has a store ($775K) of cash on the books, which must be weighed relative to about $7.8M in total current liabilities. IPIX is pulling in trailing 12-month revenues of $400K. However, the company is seeing recent declines on the top-line on a sequential quarterly basis, with revenues falling as of its latest reporting period. We will update the story again soon as further details emerge. Sign-up for continuing coverage on shares of $IPIX stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $IPIX, either long or short, and we have not been compensated for this article.

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