I realize the $7MM from Aspire was not listed in t
Post# of 72447
(Total Views: 310)
Posted On: 09/11/2018 6:17:06 PM
I realize the $7MM from Aspire was not listed in the $2.4MM cash as of 30 June as stated in the 10K. I am hoping we used some of that to pay off what we owed the CRO so that the P2B results can come out in Oct (since they said it most likely won't come out in Sept per the 10K).
The scary part is that this non-binding agreement is so important to the viability of IPIX. We are at the mercy of our partner to play fairly with us and I haven't seen that as a common trait in the high stakes of biotech too often.
The funding terms I could care less about as we needed to take whatever was available to survive. I thank Aspire for throwing us the life line.
Biggest question right now is the timetable for the non-binding agreement to move forward or not. If it moves forward in a timely manner and we get any kind of a fair deal by our partner, we then are in very good shape IMO. If not, well, I won't even go there. Sad to see we are down to one possible partner. All the rest packed shop and left? I would have thought one or two would have ponied up a few million dollars to get the P2b trial results finished if they then had right of last refusal when partnering it out came around.
The scary part is that this non-binding agreement is so important to the viability of IPIX. We are at the mercy of our partner to play fairly with us and I haven't seen that as a common trait in the high stakes of biotech too often.
The funding terms I could care less about as we needed to take whatever was available to survive. I thank Aspire for throwing us the life line.
Biggest question right now is the timetable for the non-binding agreement to move forward or not. If it moves forward in a timely manner and we get any kind of a fair deal by our partner, we then are in very good shape IMO. If not, well, I won't even go there. Sad to see we are down to one possible partner. All the rest packed shop and left? I would have thought one or two would have ponied up a few million dollars to get the P2b trial results finished if they then had right of last refusal when partnering it out came around.
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