Therapix Biosciences Ltd ADR TRPXY

RE:Looks Good on Therapix To Have Their Stock Down

[Fundy13]

From the Press release
FSD proposed to modify material terms of the Transaction established by the LOI. The board of directors of the Company does not believe it will come to agreement on revised terms. Therefore, the Board has determined that it is in the best interests of the Company to terminate the LOI. 

You got his backwards, FSD refused to honor the terms of the original agreement and the two sides could not agree on revised terms.  Had FSD honored the terms of the LOI then the deal would have gone through.