$IPIX Pulls Back to Confluence Support Zone in Upward Trend
IPIX
is a strong Coronavirus therapeutics opportunity coming into key trendline support just as the Ichimoku Cloud indicator is signaling "buy the dip!" at range level support, which is working in confluence with the trendline at current levels and just underneath. Oscillators are also signaling the current opportunity as price reaches short-term oversold levels.
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Innovation Pharmaceuticals Inc (OTCMKTS:IPIX) is part of a small group of stocks bucking the recent broad market crash brought on by the rapid pandemic spread of the COVID-19 disease. This group of stocks represents a unifying characteristic: the outbreak is an opportunity. In this case, that opportunity is relatively straightforward.
IPIX has been developing Brilacidin, a versatile compound that belongs to a new and significant class called defensin-mimetics. Recent research has emerged that suggests this compound may prove useful as a therapeutic tool as we fight to defend our sick against this aggressive disease. This isn’t a vaccine. It’s a potential power-tool for the immune system to leverage in its battle for those with the disease.
The big point here is that this is about the fight we have in front of us, rather than the one we wish we had.
We wish we had a “containment fight” – where only a small group of isolated individuals were infected and we could fence them off and spare the rest of the world. Now, leading epidemiologists (and the WHO and CDC) are starting to relinquish the idea of containment, favoring preparation.
So, with containment lost, we wish we had a “vaccination fight” – where we were racing against the clock to get a viable vaccine out in the weeks ahead, putting up a microbial suit of armor to spare the majority of the world from risk of serious COVID-19 infection.
Unfortunately, we have a “therapeutic fight”, where we can expect lots of people will get this disease, and it will be a long time (maybe 12-18 months) before we have a viable vaccine candidate. In that type of fight, what we will be looking for are tools to help reduce the severity of bad cases – to compress the case fatality rate by arming our bodies with better weapons.
In that vein, IPIX just announced that testing of Brilacidin as a novel experimental treatment against COVID-19 is scheduled to commence at one of the twelve U.S. Regional Biocontainment Labs (RBLs) this week.