IPIX Form 10-Q is on website: 355,957,332 Outs
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Posted On: 11/16/2020 9:51:22 AM
IPIX Form 10-Q is on website:
355,957,332 Outstanding shares as of 9/30/20
Projected Future Working Capital Requirements - Next 12 Months
As of September 30, 2020, we had approximately $7.3 million in cash compared to $6.0 million of cash as of June 30, 2020, and as of the date of this filing, we have approximately $7.2 million in cash. We currently anticipate that future budget expenditures will be approximately $10.3 million for the fiscal year ending June 30, 2021, including approximately $8.3 million for clinical activities, supportive research, and drug product. Alternatively, if we decide to pursue a more aggressive plan with our clinical trials, we will require additional sources of capital during the fiscal year 2021 to meet our working capital requirements for our planned clinical trials. Potential sources for capital include grant funding for COVID-19 research and equity financings (see below). There can be no assurances that we will be successful in receiving any grant funding for our programs.
Contractual Commitments
The Company has total non-cancellable contractual minimum commitments of approximately $4.2 million to contract research organizations as of September 30, 2020. Expenses are recognized when services are performed by the contract research organizations.
Recent Developments
Brilacidin is being studied by the Company, as well as other independent researchers, as a potential therapeutic for the treatment of the novel coronavirus (SARS-CoV-2), which is responsible for COVID-19.
On August 26, 2020, Dr William F. DeGrado, a discoverer of Brilacidin, joined the Company as a Scientific Advisor.
On October 2, 2020, the Company relayed that the FDA had granted a pre-IND meeting for the study of Brilacidin for the treatment of COVID-19.
On October 30, 2020, the Company released details regarding research conducted at the U.S. Regional Biocontainment Laboratory located at George Mason University demonstrating Brilacidin’s COVID-19 treatment potential. Public release of the information was disclosed via a preprint, prior to formal peer review submission.
On November 2, 2020, the Company confirmed receipt of pre-IND responses from FDA on the study of Brilacidin for the treatment of COVID-19. The feedback will be incorporated into the clinical trial protocol ahead of IND submission. The clinical trial is anticipated to commence during the fourth quarter of calendar 2020.
https://www.ipharminc.com/financials
355,957,332 Outstanding shares as of 9/30/20
Projected Future Working Capital Requirements - Next 12 Months
As of September 30, 2020, we had approximately $7.3 million in cash compared to $6.0 million of cash as of June 30, 2020, and as of the date of this filing, we have approximately $7.2 million in cash. We currently anticipate that future budget expenditures will be approximately $10.3 million for the fiscal year ending June 30, 2021, including approximately $8.3 million for clinical activities, supportive research, and drug product. Alternatively, if we decide to pursue a more aggressive plan with our clinical trials, we will require additional sources of capital during the fiscal year 2021 to meet our working capital requirements for our planned clinical trials. Potential sources for capital include grant funding for COVID-19 research and equity financings (see below). There can be no assurances that we will be successful in receiving any grant funding for our programs.
Contractual Commitments
The Company has total non-cancellable contractual minimum commitments of approximately $4.2 million to contract research organizations as of September 30, 2020. Expenses are recognized when services are performed by the contract research organizations.
Recent Developments
Brilacidin is being studied by the Company, as well as other independent researchers, as a potential therapeutic for the treatment of the novel coronavirus (SARS-CoV-2), which is responsible for COVID-19.
On August 26, 2020, Dr William F. DeGrado, a discoverer of Brilacidin, joined the Company as a Scientific Advisor.
On October 2, 2020, the Company relayed that the FDA had granted a pre-IND meeting for the study of Brilacidin for the treatment of COVID-19.
On October 30, 2020, the Company released details regarding research conducted at the U.S. Regional Biocontainment Laboratory located at George Mason University demonstrating Brilacidin’s COVID-19 treatment potential. Public release of the information was disclosed via a preprint, prior to formal peer review submission.
On November 2, 2020, the Company confirmed receipt of pre-IND responses from FDA on the study of Brilacidin for the treatment of COVID-19. The feedback will be incorporated into the clinical trial protocol ahead of IND submission. The clinical trial is anticipated to commence during the fourth quarter of calendar 2020.
https://www.ipharminc.com/financials
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