Innovation Pharmaceuticals Inc (OTCMKTS:IPIX) Stock In Focus After Acquiring Stake in Squalus Medical

Innovation Pharmaceuticals Inc (OTCMKTS: IPIX) may sometimes back have been a great investment option, but currently, one needs to think more deeply before settling down for the stock. This company’s stock has dropped by 4%, and that is a change anyone wanting to invest must consider among other factors.

Trading Data 

On Thursday, IPIX stock moved down 3.77% to $0.0230 with more than 206K shares, compared to its average volume of 557K shares. The stock moved within a range of $0.0229 – 0.0238 after opening trading at $0.0234.     

About Innovation Pharmaceuticals Inc

Any focused investor needs to conduct a background check before investing. Innovation Pharmaceuticals Inc is a clinical biopharmaceutical company that has over the years channeled its efforts and resources towards the development of therapies to help treat diverse acute conditions. Some of those range from cancer, and dermatology to various inflammatory diseases.

Brilacidin is the company’s lead drug candidate and it has been helpful in handling conditions such as COVID-19, skin structure infection, mucositis, and inflammatory bowel disease. It also hopes to assist cancer patients through the development of an anti-cancer compound to facilitate the treatment of ovarian cancer. It signed a collaborative research deal with Fox Chase Chemical Diversity Center, Inc and hopes to achieve great results in the long run.

Innovation Pharmaceuticals Acquires Stake in Squalus Medical

Innovation Pharmaceuticals Inc announced that it succeeded in the acquisition of a minority stake in Squalus Medical. This Israel-based developer in widely known for its stingray Laser System that continues to prove useful to patients struggling with epilepsy and other acute conditions such as lung cancer, and breast cancer.

There are several important attributes of the StingRaySystem, and one of those is a combination of a computerized intelligent control with a new fiber-optic technology that makes it possible to handle epileptic focal points and tumors. Patients are in safer hands because this top-notch technology offers maximum protection to the vital functional areas that would have otherwise experienced thermal damage.

The Chief Executive Officer at Innovation Pharmaceuticals Leo Ehrlich applauds Squalus for the commendable job it has been doing to ensure the good health and wellness of millions of patients around the globe. He exudes confidence in Squalus technology and what it could enable them to achieve. He believes it could enable them to capture the attention of leaders and discloses they will continue channeling efforts towards the establishment of their portfolio.

Key Quote

“What Squalus is doing is truly revolutionary with the potential to help millions of patients around the world that are precluded from procedures to provide them relief from epilepsy and cancer because of the origin of their disease,” commented Leo Ehrlich, Chief Executive Officer at Innovation Pharmaceuticals.

Technical Data

IPIX stock is trading below the 50-Day and 200-Day Moving averages of $0.0260 and $0.0292 respectively. Moreover, the stock is trading below the 20-Day moving average of $0.1018