IntelGenx Technologies Corp. (OTCMKTS:IGXT) Releases Q1 Financial Results

IntelGenx Technologies Corp. (OTCMKTS:IGXT)

IntelGenx Technologies Corp. (OTCMKTS:IGXT) released their Q1 2017 financial results after the market close today. [Note: The company is based in Quebec, Canada but all figures are in $USD]

Total revenues for Q1, 2017 were approximately $1.4 million, an increase of $535,000 or 65%, over Q1, 2016. The increase is mainly attributable to the increase in upfront and deferred revenues, which were partially offset by a decrease in royalties. Operating costs and expenses were $1.8 million for Q1, 2017 versus $1.5 million for Q1, 2016. The increase is generally attributable to a $163,000 increase in Research and Development expenses. IntelGenx Technologies Corp. (OTCMKTS:IGXT) had an operating loss of $457,000, compared to an operating loss of $706,000 for Q1, 2016. Q1, 2016 net comprehensive loss was $468,000 or $0.01 on a basic and diluted per share basis, compared to net comprehensive loss of $707,000, or $0.01 on a basic and diluted per share basis, for Q1, 2016. As of March 31, 2017, IntelGenx Technologies Corp.(OTCMKTS:IGXT) cash, cash equivalents and short-term investments were $3.9 million, compared with approximately $4.5 million at the end of last quarter.

IntelGenx Technologies Corp. (OTCMKTS:IGXT) was established as a biopharmaceutical firm in 2003. The company develops oral drug delivery solutions based on its proprietary platform technologies, VersaFilmTM, VersaTabTM and AdVersaTM. IntelGenx has developed a product portfolio addressing unmet market needs and offering lifecycle management opportunities. Dr. Horst G. Zerbe is President and CEO. Prior to founding IntelGenx, Dr. Zerbe served as the President of Smartrix Technologies Inc. in Montreal, and as Vice President of R&D at LTS Lohmann Therapy Systems in West Caldwell, NJ. Dr. Zerbe holds over 40 patents in drug delivery related fields and has published numerous scientific papers in recognized journals.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. All information, or data, is provided with no guarantees of accuracy.

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading.

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