Innovation Pharmaceuticals Inc.
Innovation Pharmaceuticals Inc. (OTCMKTS:IPIX) traded lower after announcing the completion of a Phase 2 trial of Brilacidin for the treatment and prevention of severe Oral Mucositis (OM). The stock was down by 1.25% in Friday’s trading session to end the week at $0.701 a share.
IPIX Stock Catalyst
Friday’s sell-off continued a strong downtrend that has plagued the stock in recent months. IPIX is down by more than 40% for the year and is underperforming the overall industry. The stock is currently trading in a $0.70 – $0.73 trading range and is close to its 52-week low of $0.63 a share. A market close below $0.68 could result in the stock dropping to multi-year lows.
Development of Brilacidin, Innovation Pharmaceuticals Inc. (OTCMKTS:IPIX)’s lead drug candidate, is a catalyst that has the potential to strengthen investor confidence and avert a further stock drop. The clinical stage biopharmaceutical company is currently evaluating the efficacy, safety, and tolerability of the drug compared to a placebo.
Secondary objectives include evaluating the efficacy of Brilacidin in reducing the duration of severe OM and delaying the onset of severe of Oral Mucositis. Interim clinical trial results have already shown reduced rates of severe OM in patients treated with Brilacidin, while undergoing chemoradiation.
“The final patient completing study treatment in this Phase 2 clinical trial is yet another achievement in the development of Brilacidin. We believe a successful trial for this indication would be a medical breakthrough and likely generate significant interest as the market for a drug that can help prevent severe OM is estimated to be substantial,” said Arthur Bertolino Chief Medical Officer.
$1 Billion Market Opportunity
Innovation Pharmaceuticals Inc. (OTCMKTS:IPIX) is developing Brilacidin to address a significant challenge that oral Mucositis presents to patients and their doctors every year. The condition is characterized by inflammation and ulceration, making it impossible for patients to speak or eat. Infected patients are also more susceptible to bacterial infections.
The frequent, painful and debilitating medical condition is commonly manifested in the treatment of head and neck cancer. Costs associated with the treatment of the condition places a substantial medical burden on the healthcare system because of lack of safe and efficacious therapies.
Oral Mucosity presents Innovation Pharmaceuticals Inc. (OTCMKTS:IPIX) with a $1 billion market opportunity as there are no approved medications for prevention of the disease.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
Don’t miss out! Stay informed on $IPIX and receive breaking news on other hot stocks by signing up for our free newsletter!