Innovation Pharmaceuticals Inc (OTCMKTS:IPIX) Coming Back to Earth?

Innovation Pharmaceuticals Inc (OTCMKTS:IPIX) Coming Back to Earth?

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It shouldn’t escape notice that Innovation Pharmaceuticals Inc (OTCMKTS:IPIX) recently announced that the company and researchers at a U.S. Regional Biocontainment Laboratory (RBL) are collaborating on a federal grant application to be submitted this week.

According to the release, the proposed research aims to evaluate Brilacidin as a potential pan-coronavirus therapeutic, for treating SARS-CoV-2, SARS-CoV-1 and MERS-CoV, including extending the current in vitro testing of Brilacidin to in vivo testing. Longer-term objectives include potentially performing additional research to develop Brilacidin as a broad-spectrum antiviral, with possible application beyond coronaviruses, e.g., treating other viruses, such as encephalitic alphaviruses and filoviruses.

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 the company and researchers at a U.S. Regional Biocontainment Laboratory (RBL) are collaborating on a federal grant application to be submitted this week.

Traders will note nearly 140% during the past month in terms of shareholder gains in the name. Furthermore, the listing has witnessed a pop in interest, as transaction volume levels have recently pushed just shy of 170% over what the stock has registered over the longer term.

According to company communications, the ongoing Brilacidin anti-SARS-CoV-2 research being conducted at the RBL is separate from the ongoing research being performed at a Public Health Research Institute (PHRI). The lead researchers at both the RBL and at the PHRI have informed the Company they plan to submit their findings, separately, upon completion of in vitro testing, for peer-review publication.

At this time, carrying a capital value in the market of $120M, IPIX has a reserve ($775K) of cash on the books, which compares with 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 at 0% 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.