The NT 10-Q was more verbose than required to satisfy the SEC filing requirement. It would have satisfied the requirement to state reasonable detail describing the cause for delay had Innovation Pharmaceuticals simply truncated their explanation.
Innovation Pharmaceuticals Inc. (the “Registrant”) was unable, without unreasonable effort or expense, to file its Quarterly Report on Form 10-Q (the “Quarterly Report”) for the period ended December 31, 2020 (the “Reporting Period”) by the February 16, 2021 filing due date applicable to non-accelerated filers due to a delay experienced by the Registrant in preparing disclosure relating to recent developments regarding clinical trials for the Registrant’s lead drug compound... - EOM HERE
Yet Leo felt the need, or saw value, to include; ...and in particular, developments on or around the filing due date relating to clinical trials in the United States and Russia.

Was it intended to send a message to the market? I doubt it. Was it intended to send a message to suitors? It would have more value in this case.
I can't wait for to see where we go from here.