IGX.TO - Earnings call 1 2023 | IntelGenx Technologies Corp.

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Operator

Greetings and welcome to the IntelGenx First Quarter 2023 Financial Results Conference Call. [Operator Instructions]. Please note this conference is being recorded.I will now turn the conference over to your host, Stephen Kilmer.

You may begin.

Stephen Kilmer

Good afternoon and thank you for joining us on today's call. line the on me are Dr. With IntelGenx's appointed CEO, Zerbe, President and and newly Gorham, Dwight CEO; Andre Dr. Former CFO, Horst Godin, President our Alliances, Company's Kideckel Head Corporate and David of Strategic Developtment Dr. and Research; our Pietrantonio, Kenny, Vice begin, you to Director would Clinical that mentioned General Frank in and all U.S. we Counsel.Before amounts of our Tommy Senior like remind I President today are mentioned. dollars, unless otherwise expectations call contain subject forward-looking as our of may represents are today today's And to that change. accordingly, and information any update to statements, obligation any undertake not by do may as required forward-looking be We except U.S. of and laws.A subject were securities may in Canadian us and preparing risks, forward-looking number differ are assumptions which made statements, by materially. results these to can Details our found in the on and filings these assumptions be U.S. risks with to and Canadian securities commissions.I'd now like over Dr. to call turn the Zerbe. Horst?

Horst G. Zerbe

everyone, discuss you for thank made Stephen. progress Thank results. call, for XXXX call. afternoon and you, IntelGenx on the key will will projects. On Good update the financial us I corporate conference Then our today's quarter Andre first pipeline review we've our the joining provide and

is to his we conducted call. that search Gorham was line a a and well Struggles CEO subsequently resignation from Directors Heidrick operation.Dwight chaired CEO our of launching I that real teams, to year and board for appoint beyond help update, I an the serve my take based the intent the CEO by as the after Most your for upon transformation like Dwight and company.On the effective to to the that, exceptionally commercial with Executive Dwight qualified will on as to board Dwight of the manufacturing the new an the succession investor of and and Montreal the committee, my to appointed and thorough manufacturing products. new March the firm, during to Boudreau, into retire The the board help is by my to served CEO the its Pharma, as remain XX, as contract Gorham I opportunity company new appointed appointed continue recommended company. resignation. Dwight unanimously training. search Board R&D will Gorham accepted CEO ophthalmic Bernard and President of which, specialty, with transition. CEO would to board of successful sterile informed open a newly inaugural this welcome X IntelGenx questions.Before Dwight Pillar Following an our engineer lead a up pharmaceutical ago, IntelGenx organization a recently, About available

of Pillar that, a as global and Before held a in XXXX North in President served and Inc. joining X Facility he senior he management Prior Pharmascience capsules, soft of variety supplier American of these at for. President the of gelatin a Montreal was managed and now plc, the financial GSK.During CMO Operations improve performance assignments, Canadian Cummings Montreal, General significantly and he of GlaxoSmithKline which he parenteral the each of unit Director Baker of Accucaps senior of at to of roles, company products, based lyophilization leading including variety and supply president Wellcome or Draxis general at CEO assignments at Manager is responsible the a Burroughs Inc., vice of to Industries, operations Pharma manager the

programs. to session Q&A call, agreed still speed all available today to participate just the in will key I following join that, has Dwight on the up be and he now to update introductory remarks.With our will he's While us getting on

our XXX(b)(X) next month, to Activities X a the with to on Phase approved U.S. have phase Last market also proceed X, dose for First RIZAPORT. name is escalation, is the atai, phase dose and Pharmacokinetics PK, a NDA ANDA PK RIZAFILM, Buccal film RIZAPORT. and meaning escalation development, using study.Moving commenced of on study which the the FDA for ongoing.

March fully this was proprietary inspection in FDA successful manufacturing Montreal thifollows for approval, is facilities of on pre-approval product by nationwide. communicate This developed Importantly, XX Migraine of in-house. technology our it accordingly that We based agency to was we're technology, this a year. the an film leading the which our VersaFilm of to IntelGenx certainly and major Americans our important first second as our or that of validation was is a milestone achievement VersaFilm partners migraine, the of view XX% from American and investors.According as cause suffer we'll disability Foundation, this and million

towards first targeting batches year, approval Our Industries, partner commercialization regulatory FDA the product, for and then that for countries in what met new region.Moving supply review Lebanon, should with the They the MENA RIZAFILM and Exeltis, patients later feedback in submit s.a.l on Gensco Spain. pediatric prescribing doctors that great strategy. mention our RIZAPORT to In years for waiting to now on within exclusive of sales pharmacy of develop we an at to Tadalafil. have X January, be in working for XXXX.I to while with the two agreement we'll strategy with came entered product the a the Exeltis level.They and milligrams is for overcome of the in RIZAPORT and significant manufacturing saleable into with that struggling approval and of approval pharma are the request film. version in FDA reported elevation also been will early U.S., ARWAN the in implement Recently is we the to from substitution Pharmaceuticals loss various partner

some Aquestive delay Tadalafil. as reported a partner has we with As last quarter, was issues there encountered API related slight our

a the cannabis, companies force R&D involving the have currently issue. in API the believe diligently task we solved and address both Tilray clinical process of preparing progress. the We now formed teams that is are arbitration batch.As from and manufacturing worked to the However, we issue, for

proceedings arbitration at provide further are dispute details this time. confidential, are As we to unable regarding this

the words by to to in sites possibly even more study. in months. five July, seen to past the were earlier we've last soon as investors patient The enrollment update promptly a on the we reached. increase two been as as the enrollment months.We're an a our been resolution especially if rate result, active And enrollment, has two add of able has will as in end targeting Montelukast as We

the opioid of While are enrollment the PD when long-term placebo program when hours. Parkinson's require Xiromed, for We in of Phase Council Montelukast X, supply the repurposing study of awarded films in around it an severe months On be is provide include used in drug Xiromed ongoing Belbuca believe to the use to in to and responses for XXXX a to and manage We that the Per PD. or clinical the to plan neurodegenerative April, is Dr. to property rights study to double-blind, expect Institute patients. through Dr. will treatment Buccal to other abbreviated in the affiliate new pain Research formulation time.Moving Belbuca, the XXXX will buccal of the to in as disease PD. randomized, FDA Swedish incorporates this a the grant the technology major quarter. regimen Film inadequate. $X a used is pain both are XX a to current the expected [indiscernible] treatment opioid of for now study enough received research was research investigator program currently trial the active is investigate will is conduct chemo in Film. has on treatment and that be regarding AD study treatment. February, amount patient and announced bioequivalent, Film placebo-controlled VersaFilm a letter Karolinska approved to response treatments multicentre, Buccal the mild more IntelGenx of disorder, disease oral in is disease, we we version with lower to serve its million.IntelGenx and both Buprenorphine we another in VersaFilm Svenningsson retain will with announced participants. Dr. clock, findings be of study, plan completion with a QX clinical design VersaFilm our Montelukast the the FDA at use lead that every or or the In by application XX alternative generic modifying the and expanding applied Buprenorphine sponsor and the Svenningsson from by further in cost will Alzheimer's that details the to daily for principal moderate the the collaboration with continuing, and for submitted patients Buprenorphine PD. novel Buccal intellectual AD and commence to designed develop the mucosa an also Montelukast its on potential Svenningsson, complete

strategic the call discussions now and oral film quarter, potential development David are Kideckel VetaFilm-based health. new of and corporate turn Andre, would containing animal entered review undisclosed quarter engaged into from over fourth The to head a study results. expected like the a feasibility agreement for Lastly, alliances an that, Partners.And with to with health results animal development Andre? the Health we in also our Dr. as In in the use Animal CBD company the VetaFilm, in appointed is newly major for current with companion of for financial animals. CBD formulation I

André Godin

Good Horst. you, Thank afternoon everyone.

ended discuss the XX, company's a performance As March the few Horst quarter XXXX. mentioned, to financial just first minutes for

the XXXX.For the Operating front, change $X.X to costs period XXXX sales for in operating in of $X.X loss EBITDA million in three-month an first for XXXX. versus revenues to $X.X of revenue quarter The same to million company attributable for royalty negative million and of QX Adjusted were On corresponding and XXXX. $XX,XXX $X.X of last million expenses was the in XXXX, decreases total XXXX negative amounted QX million compared to mainly of revenue $X.X compared for had QX $XX,XXX. compared on million year. $XXX,XXX to $XXX,XXX product the is R&D XXXX QX QX $X.X period

basic net the basis per or for $X.XX comparable or down net $X.XX million, comprehensive was period share of XXXX. comprehensive of a loss $X.X slightly Our share QX XXXX, loss $X and diluted on for per a million from

Dr. XX, will call back of investments cash short-term totaled As XXXX, company's and million.I Horst? the Zerbe. turn now March to $X.X the

Horst G. Zerbe

the like to will closing, both like Thank our our following forward- you. Andre. turn again call apply long-term that that, looking once our With you over strategy. questions. on remarks I prepared statements now to for for our I'd the I'd and recognize remind executing Thanks, QA. In to team

Operator

Instructions]. [Operator

We David private from have or investigator a the investor. first question private queue [indiscernible] a

Unknown Analyst

gone to product moving this the revenue, forward? plan want just wholesalers? we [Audio or I the to understand plan PBMs. Have to see for mean, marketing cut] the I commercialization we've gone the

Horst G. Zerbe

first David, part missed question. we the of the

repeat [indiscernible]. Could please the were you You question?

Unknown Analyst

the how understand to market company to we trying make that's to are contacted this RIZAPORT just approved, has want we out on a the it's because a, product, XXX(b)(X) a to has plan oral for pretty been FDA that's of How Wholesalers we gain significant product? it's have distribute approval IGXT it option commercialization can an drug. PBM? just the aware going I this understand, though there? to even compared I'm

Horst G. Zerbe

David, do you that? want respond to to

David Kideckel

Development to. David the question. SVP Thanks, Kideckel Alliances. and Strategic Happy for Yes. Corporate here, Head of

partner do we commercial a for is Gensco. we've commercial in the had So That time. U.S. quite that partner some have

the So the we to are contract inception discussions since plan. been as have of commercialization execution of active the finalize in we

product planning launch of is the for the this for all well in underway the U.S. So,

Unknown Analyst

this to how physician out can market also there they're by going going Are you to which to get they're the channels make to like wholesalers product? this share awareness any and details

David Kideckel

it'll the finalizing with Genesco product. point think commercialization really and be unable this to We're more plans I sales the type in for upwards we're mainly marketing because of and still give more final time, traditional details at here. the

Horst G. Zerbe

after-launch Yes, relevant have the because for still validation. process the the probably what I timing should to add, conduct David, we of it's that

partner we So we our and those with batches launch manufacture full during detail with time, to validation will undergo process our and in Gensco marketing requirement And have that's finalize that three activities. the by exercise a agency. the

Unknown Analyst

we can expect So XXXX launch? my final a RIZAPORT on question

Horst G. Zerbe

to want David respond? you

David Kideckel

the I is it but by launch involved some that's say Yes, would to XXXX. we're see given just FDA, time XXXX at highly planning that a approved would say it's I a we'll launch in unlikely product, all looking possible, the once

Unknown Analyst

data? about speed, Zerbe, to stop you have you when that favorable. the we it first regards Dr. sounds July, the in Say could enrollment of In set enrollment talked Montelukast. very

Horst G. Zerbe

or do that? is Frank, respond Clinical Frank Director you want to Director Research? Clinical to our

Frank Pietrantonio

by Yes, be Since QX. over so basically, we're is June, year-end if treatment, enrollment to trial then six-month it's by expecting the July. early finalized or the a

late in year. available or So QX data should QX be early of next

Operator

Our next Shapiro. comes Abraham question from

Abraham Shapiro

the quarter Andre we raise afternoon, My I development the so approval. Andre? Good like is the hand. concern on of on of FDA expect a What and congratulations cash can and past product for news Horst.

André Godin

your Yes. question. for Thanks

I patient think obviously, option just you because looking know, we're we're but very we price stock have don't options. cautious at you multiple and multiple

some have at ways way good will cash very the the expecting I we're we to money always point. find Right wouldn't we're raise a We and some But, we'll future. catalysts near carefully. in now, find worry, to But, managing come again.

hopefully So some a but now. pretty stock the the can to give see, you I that higher stock cap. entire raise mean, as the can at price we small level, momentum can because depressed and is money especially right market,

have we we plan, and options. a but cautious, have multiple being we're So

Abraham Shapiro

a to nicely, your they going thus to their sort have has of on stock forward Okay. some put some sort announcement, to your other relations, Because, and make questions. are that the I'm I best happening saw the quarter, website? I that looking public couple IntelGenx. Gensco, of something partner, request partner risen

David Kideckel

That's private a Gensco a good company. question. is

So there's release press likely issued. no

as a idea, bad As either. website, their available that's I yes, products mean, I on not mean, far

Abraham Shapiro

There's all. at no [indiscernible] of IntelGenx mention

David Kideckel

to was product I Yes, approved, two just the defense, mean, their ago. to three I mean, however, weeks

you. them let communications do I think idea. that's have good but So with we'll and the Thank we bit, a regular them

Abraham Shapiro

Thank welcome best you, IntelGenx of luck. to

Zerbe your do Dr. time. So enjoy extra

Operator

Kyle. We now hear [Operator Hugh from Instructions].

Hugh Kyle

you follow-up. Good have board. family, joined the and Just I'm to excited new everyone, have a members IntelGenx to welcome afternoon, on

have made organization? back follow I and up the And in Any I'll process. David the the with Just idea number queue that the regarding sales of know is go questions they that rollout. private. of it's normal in Gensco the is couple of sales comment that a people

So the information is limited in scope.

they're tackle how major wondering the to U.S. Just going

David Kideckel

smaller it's the not there is organization. is where be thanks work necessarily fairly of not employees even be public that number the say would I sure positioned. number Thanks, any product sales the wouldn't been information. But it's have no, the considered to a people or there question. It of that I'm would organization commercialization, going

forward the priorities number as this be far on I to this focused And much just concerned? at of I solely will effort so their as As with far allocation looking at to we're But an very back again, point. one as organization.So, become allocation. much effort would salespeople that is don't working I top wouldn't, as if Gensco know least, of

Hugh Kyle

is the the any partnered on It countries other have thatone. to IntelGenx with follow-up The Arwan that the update RIZAPORT South or Korea territories?

Horst G. Zerbe

ahead I'm sorry, go David.

David Kideckel

to say mentioned. going discussions to are ongoing I and negotiations just was the all All can above no you there's real of I Arwan. there with just that that update say is

Hugh Kyle

at a product with they end tunnel in in the everyone David? rollout. the Okay. have the months pretty the that, we experience excited details And that do Exeltis ago, were the that substitution light consistent with And there timeframe just would and an of RIZAPORT, and Spain, see where XX estimated packaging any was of

David Kideckel

with Horst, I'll you. that leave one

Horst G. Zerbe

is to done format few change has once for approval. would approval be They months a response prevent from speak, authority currently, it there immediately market. as waiting the authority it's is the such that waiting, the I they will way the and and pending, level. for then submitted packaging Exeltis, into the that we you, they're obviously, in but pharmacy the When at a I Spanish that that tell What substitution Yes. regulatory can't Exeltis transfer a know issued will after ago

Hugh Kyle

in in would that Spain, in that issue Europe? a countries has was Exeltis to challenge the the other Dr. commercialize be that that With right Zerbe,

Horst G. Zerbe

I We been some think mean, would I I certainly think knowledge about for so. around any specific that. has years. so. Exeltis don't But have would

part, they learn that that jurisdictions. speculation think from discussed not I other we and similar So past will my with haven't specifically is that experience commit them. yet But in mistakes on

Hugh Kyle

with on a for to then be Thank And the Suboxone? prior you, would fourth on replacing discussion the any the update was call response. quarter company potentially that follow-up

Horst G. Zerbe

currently have because I hold, you're and don't I on that know been partner. want about, proceedings That discussion, bankruptcy discussion what can't completed. That to is I potential not talking still disclose say

has so, full in that wait asset have process become And the a then to will to come we until only available. closure because

We available. Par in that meantime, with have for partner would meantime potential has the in the be that asset our confirmed and the

assume once conclusion So I to that has the a resume. will process negotiations come that those

Hugh Kyle

the Thereâ€™ll ended? the ENDO or fourth imagine. that Okay. still timeframe that to terminated be the on same with we right or hard The discussed a put ENDO, tabled I undisclosed as on that, quarter. All last project is

Horst G. Zerbe

at hold, Par. That this this ENDO/ was program. on point that not That unfortunately, found second to with point an at we that partner program, anyways alternative had the have continue program we is

Hugh Kyle

a is of still product would it you potential believe? somebody? Or that be Do that attractive maybe to shelved? Is

Horst G. Zerbe

a how brand, of whether improvement. on the expectations. significant sales the has product the at been reference as checked depends to a And sales It product, we're few there behind recently I of Until lagging develop. haven't any, the ago, reference the least months

So that's on the one. comment on can really that all I say,

Hugh Kyle

in than Okay. still queue. transdermal in more product? I'll on Two the that back The patches, unique go going discussion

Horst G. Zerbe

fruition, negotiate still on. is provisional that come partner. has by increased received the our to informal it acceptance notice is likelihood have we a of that going Yes, And will

David, be the comment. this very there, So that I'm extent will come want further result. confident if to my a of comment that to you positive would

Hugh Kyle

Is David, is no or comment, ending? it it

David Kideckel

been several partners. business clients. is potential that with Yes, pitching there it's here, to that is I comment is just did up potential thought from we're I make something I've want short interest to No, in a time know That development time moving I something we were a on. that come my side.

IntelGenx within potential a partners. we asset that positive have for at tool bag the future So definitely our technology transdermal is

Hugh Kyle

bag, last in tool other one And interested potential an that discussions Is was your is Loxapine. that's David call the active? partner. on it going The still with

David Kideckel

to back one this again. put I'll Horst

Horst G. Zerbe

no progress Loxapine, last to quarter. since report On there's

side, And continues We RIZAPORT the the out, and reach related quite quarter. as over focus continue an out. much and and will past on but to has on the to finds aspects. proactively reach activity the BD of valuable has the past been not be will more attention very really reasons, received for frankly, obvious as It's asset. they Loxapine but pushed of not we the couple because as time, soon months has think, important to been it Xiromed

Hugh Kyle

And one, in then or with issues. the I'll with last your with four that company. the -- one challenges The marketplace the right. with go All the indications doses queue. CRL it on the -- then developed for four there will the Is it pretty and be other partner the with Belbuca, for Follow the was still closely for legal the changed?

Horst G. Zerbe

partner hasn't But of actively changed on strengths is not focus I but all this the the still the pursuing to that plans moment, at are those point. two No, the core mean, sales those I point is, That's volume reality range. is commercialize we the this the at mean, XX% eventually, strengths, that for case. the strengths. in

wouldn't really it final to -- are level. patients their So those difference.Those are two in strengths initial phase to mostly a the maintenance titrate used much of make low up

don't significant role they play why any sales wise. that's So

Hugh Kyle

or All two we're programs? in last, with it the to that with And companies Is before right. multiple just queue, then VetaFilm. partnership three going on

Horst G. Zerbe

pass to I'll you. that David, on

David Kideckel

I'm sorry. question? the repeat Can you

Hugh Kyle

or three with is just two it companies David, companies multiple On the programs? VetaFilm partnership,

David Kideckel

deep become there's Right. once -- have to while. update they right little we're over they of you do them, discussions with next an they Well, for the with public hope have couple now. ongoing there's programs We and if multiple do in a

Hugh Kyle

that for under or Okay, it companies, are but contract still or is two trials? more a partnership, than two

David Kideckel

PEI, not believe Yes, University Island Prince be I that's made Edward we sure in another would if CBD [indiscernible] I'm of been one and there's in that Canada. have And dogs. for and public

Horst G. Zerbe

Prince what that. in addition study and University Island. Edward said. We're actively then It's we of And are I David to Horst. confirm are with there conducting two to talking So two to confirm can that, companies a

Operator

We from now J.P. Brett hear

Brett J.P

price? is mentioned price, up mean, had approval if Yes. I to share was would get I coming that up price. the share you'll wasn't thought he boost boost have would I I some that what coming wondering some catalysts think going to Andre to you FDA think a the the do an mean, catalyst share

Horst G. Zerbe

said. We Andre can coming up, significant what for cannot reasons, any obvious catalysts provide I details. confirm only we have But

apologize I you that. So for want to to add that? Andre, if

Brett J.P

these are And in XXXX?

Horst G. Zerbe

Way up in the near-term.

Brett J.P

entertained barely not anything guys There's a you over reverse price Have at to investors XX% sure question. a share attracted? investors? up try maybe price. to more the to I'm split share one get attract are at a all Okay, lot of that or

Horst G. Zerbe

massively this Not talk further. you're price to being, manipulated. think is comment seriously. Andre, right welcome the we mean, I share But is now

contemplating reverse not to split free we're that. Andre But so point. add at to And a feel this

André Godin

right on launch short were a tangible on I working now, to this is would there's the way approved, some don't with stock catalysts the, product could I very execute shorts think work by to be we earlier, the appreciate.And it think on on we to, point, uplift stock the And at properly that news. I squeeze Buprenorphine our that do split be that's since level, now. And make need But only answer. to Like need and executing coming the program lot the I some there's an with to right Yes. the announcing helpful. think reverse really basically squeeze we that that will definitely said Xiromed, and of market. is what front. we're NASDAQ the If get at on short the what

Horst G. Zerbe

with that. And increase volume,

André Godin

Yes.

Brett J.P

Right.

didn't it all obviously Thank but to information. that Okay. I little appreciate backwards, more I recent do at expected would you we've guys gone done I as guess, just have the a announcement have you. than

Operator

Tony next questioner our next Our Cantone.

Anthony Cantone

was to that is question release, said Chemo. you regards in your by In press the My received that CRL Chemo received first CRL. the

a and of can the the side? if like partnerâ€™s that to stability technicality light shed And CRL with the and has on the fair is you some packaging actual to So CRL? film assume nothing on it more do

Horst G. Zerbe

comment paint is to related partner to just our to me let -- time. acceptable respond tox is how to that because properly our respond that the main the was period understand, to reconsideration. another information that. agency. And don't the we of as we has able an one reason question quite that there be why There There filed partner a within provided however, to then that's request frankly believe to we And things for

Anthony Cantone

like, So or the do for CRL like so do it's manufacturing just part like, the up to to example, -- safe had with of nothing it the Is it's sum film that stability of to anything it. the say? with

Horst G. Zerbe

do nothing correct. It and/or got has to stability. manufacturing with is the the That

Anthony Cantone

Any Okay. have, in The Heritage regards to from update forth? like I orders on your from Film. and process Heritage, whole sales so with like, going how and new that next question that is CBD that

Horst G. Zerbe

Yes, I like that. if responded David, you to

met so, just a them You with few please. days ago,

David Kideckel

where for you short expectations and this the Yes, will Cannabis mean, lot Canadian the investors come so time, not just in initially to orders level of order. predicted. is purchase had at proceeding. hope all, is deal at within of if in general, that the analysts a The produced I still we and Heritage the agreement Canadian markets expect the follow market is

my hold the did. predecessors the we grandiose not Heritage expectations So cannabis necessarily some Canadian while continue of will level for It's don't additional moving that optimistic market, forward, of as potentially, -- place we're same historically, to orders.

Anthony Cantone

RIZAPORT, And like like IntelGenx you approval to Was sort the Okay. the approval expecting is I next from FDA upon that got. recently question the in that All Was contract? of VetaFilm regards payment any, right. in royalty that Gensco? have like,

Horst G. Zerbe

commercial David? correctly. correct, There this remember if is upon a payment I first due batch, Is shipping

David Kideckel

And due contractual, sure. the payment approval. time FDA It's actually a thatâ€™s of from yes,

Anthony Cantone

lastâ€¦ my And Okay.

Horst G. Zerbe

is due But right some there now. exactly. Yes, yes,

Anthony Cantone

And this be in during reflected QX? will

Horst G. Zerbe

Yes. QX.

Anthony Cantone

there is figure roughly seven Okay. Is like any a light figure, like, payment royalty you six it way or? shed can that on

Horst G. Zerbe

figures. six Its

Anthony Cantone

Six figures.

supplying My to regards RIZAPORT just that going to Pharmaceuticals, manufacturing your contract question Okay. to Since you those the are approval, them. nations and with facility whole is from Canada? the got in last in that have you be ARWAN FDA the directly RIZAPORT

David Kideckel

to feel is the that assessing you. please chime free Horst, you to of if different Horst, other currently have I'll give understanding this my But But agreement. parts information, we're in.

Horst G. Zerbe

The basis negotiated Yes. on deal the was of approval. European the

most the in manufactured So partner product royalties. by manufacturing for be receive would and our the Europe, we part, would

we the the have manufacturing degree ourselves. product other do However, with of option

Anthony Cantone

on possibly considering long just to caller. thing one saying own. all want highly that by regards what Andre And previous I highly, mentioned was the right. Okay, a regards -- split. I base sorry say touch come in has to possibility a I wanted was its split. to of the idea that, entertain to just And don't reverse on reverse think, I way a IntelGenx in

it's stock think results I speak company the plus you appealing, and on execution the years. what right are of get we're you with for think the the the undervalued itself, guys be, XX the focusing like now.And I the amazing it line. and just doing, and eventually and company will fair the the company because been job. believe will where is not to I like, an highly years, And this for And you're valuation manipulating look to all execution, it needs supporting company think and these price I've I make doing IntelGenx I company to think just finish been what we've at for to

Horst G. Zerbe

same on several every clear. what But all, I then and that. Please weâ€™re to But we First all.If go at if we And have thank have conclusion. to we be really appreciate a that reverse really is mean, times, to very would to much. the is time your come split ahead. Andre, you assessment, changing on this board entertain. going want want you This I single fully seriously see to that with nothing the forward, discussed cannot I my so I add comment, stress position of

André Godin

But And and question had think much to I right now comments the was the higher, if I we're we if the that NASDAQ. contemplate it with migrate your that would mean, would may that. commented reverse I any to I be on aligned of And to fully split. totally out contemplate stock that way is it's already here. only

Anthony Cantone

guys congratulations fully And welcome you IntelGenx And we has. the you. are got and RIZAPORT to in and the you on you I approval. vision are company supporting we Dwight behind to to that we believe the and

Operator

Hugh on line. We Kyle back have the

Hugh Kyle

you. Thank

one. on all, of I the FDA for and the company ball on dropped successful you approval recognizing RIZAPORT, that the my apologies of First not

congratulations So the successful your on focus members and team continued to and journey. long you that

Horst G. Zerbe

you. Thank

Hugh Kyle

slowing is on And that market you A A the I questions Cannabis on Where medical biggest the the see with for acceptance intent cannabis. questions the use the focus opportunity? have couple film to gents. as do down. still going follow-up market adult film to couple the the

David Kideckel

this adult to take medical. point much use question higher bigger That said, I'll without I opposed Yes. opportunity a in in medical the price within Canada, too. as mean, one. there's is

target. to on, Hugh, So much is And to to isn't this what of partner. adult more around as it's focused market, so use. going be on, they we're commercialization the medical to opportunistic, Heritage and be in which honest a Canadian cannabis sectors deal is going IntelGenx market both But to focused be with our matter you within what both

Hugh Kyle

and/or would been horizon you've then any there I And Heritage and Australia expansion, other the know countries partners. Canada, Okay. is in the on

the outline on same Investor presentation? five taking Just the countries

David Kideckel

there said when far them.So, said, in to have outcome to close process now of relatively countries, or I just going business which maybe with to month areas reevaluating started and But don't those two then or was as going a arrangement keeping U.S. do and opportunities, legality eye the of And the Europe. I because like developments, additional keep dealings mind, a markets, at for we compiled. certainly know our the countries, That a potential right parts the I ago, invest presentation time is now. one happen with not focus, Tilray likely cannabis where of subject of certainly business I'm we're investor that the lot just But that least right still I'm previous effort. Australia and of is as is small in of on. really the Canada as

Hugh Kyle

handful of other film, just there. strong them cannabis Okay, companies is IntelGenx on for because thank competitor Any a a out to product? that of And one you, you your see thereâ€™s David.

David Kideckel

But any would any to seen some others in if more know haven't be not Canada. knowledge, diligence areas of the I -- other I due world, even honest, At do I exist. my oral yes, I could In others. in story. different so least don't filmstrips But if be a To cannabis. of that to have

now. I'll for So it at leave that

Hugh Kyle

a answer was efforts anybody with [indiscernible]. with Zerbe, repurposing good Lucas? partnership Marty in very your major any interest Back to for That

Horst G. Zerbe

end. Actually studies, I the waiting initial until nearing study both BUENA is We're have from its we results. mean,

were quarter certainly with start next received we companies. early the quarter, Big exception, we that then data. message first-second Pharma past and a our in number amongst with year, the â€“ outcome and earnest them we'll know outreach.We us show interested, will So in but the of second had discussions no the

be will with begun, even haven't So study we BUENA in still Parkinson's it similar. while has suspect that with not that is entertained I ongoing. activities, mind, study, seriously that the outreach any

found of as However, the investigator and Professor level that in study, an different prompted the to have in if significant patients Svenningsson of situation so this patients. which him Montelukast design evidence lead so a very recall, Parkinson study. good study And far patients, efficacy conducted I larger in efficacy, already fact, is XXX is effective with there, we much XX that and the in molecule correctly,

sooner. the might So outreach they're start

Hugh Kyle

are and And RIZAPORT you That's indicating on horizon? catalysts maybe over very was the year. question Andre, good the prior the above the some is something the regarding in and That catalyst questions else news. Belbuca last in of a

André Godin

I else. very multiple working obviously, Yes, fronts, something these on it's active. mean, we're

That's for mean, So volume, represents as and this things, film a have us. because great some But great well, catalysts focus also we and as is priority, course, the be want presentation, a of launch. on revenue we in the the approved you it Buprenorphine on can can to see corporate I there hopefully, near-term. other

Operator

David Wen.

David Wen

Thank you.

development?I to programs. what of question. on new I clear on the future assume Kideckel, be all that, make will what the are next be looking not speaking want company's Andre investors. mentioned update it's new lot and quick forth. call, And place. of when It's speed in will what it know business to at to CEO we past? programs earnings safe sure the great And to maybe operations? management seeing an the just said, you to this that more some a the that based team of call, terms come to Will and you're up at one next in be cut. have back past going Just we going our programs have it It's you Mr. look for we they you're that Is a in

Horst G. Zerbe

that my call, new since next I can me that I confirm. CEO actively you industrial will I what asked running Thatâ€™s would comments, that, in be that mentioned have The I can confirm. can say. the concluding but

David Wen

you. Thank

Operator

Abraham Shapiro.

Abraham Shapiro

that share just just XXX% But mention And I for way I'm behind at Yes, results in my the congratulations. doing happy want the to this I quarter price in of and really more past some this opinion, as undervalued I price. I'm reverse split. went nibbled thing. one certainly, last is not

the plays think not a to Thank of split. into luck shorts. And do with do split you I you. the reverse of hands I'm a Please XXX%. Best all. reverse

Horst G. Zerbe

No worries, worries. no

Operator

Justin Foster.

Justin Foster

without or to of timing, when A come quick agreed arbitration the you The anything give in comment. substance quick color what say a can't with decision would any us is you about be in understand on roads anything And your question idea give to timing? content, I either question progress would or on violating and terms little going can Tilray. else a

David Kideckel

tell could full the I this processes. you as the go, can I -- you we is mean, hamper don't is the come as give highly most default. arbitration now can is that's reason the the why I that This confidential. likely we of far only decision And position. companies thing want weren't, our in instead I But picture. decide If to just court would

Justin Foster

helpful. And you. course. That fine. that's And thank is Of

think again. just reverse the was you from year years actually split, I I a cap just not the recently was guys at think it. and a several market ago, we do there money trading it exchange know, split losing that's was And within affirm original companies goes things time, that the pool and course, and one reverse answer. money because be price down ago. even to ago, that wisest of to that not contemplated trading, you too.So that you bold. the shareholder months or to did this things and of ongoing I you decided XX shareholders wise time, is after years of because guys and lost ago And eight small right even overrated that it to your have months was. is joined as And share decision it at you where you little that boldest decision cap on Finally, is back is think part congratulate again. of off and being many want the I And most for to I time, the although entertained look had dark forward authority And I gentlemen thank good a the NASDAQ X/XX smart or with what years and

So thank you again.

Operator

Destler. Doug

Doug Destler.

I welcome has the pipeline Horst most that's quickest? and Hello, retirement, question. new a leadership management to for company and the the product the or the to have want position I place being products years thank in his to congratulating just a and to What vision revenue generate on over in the team. and needed the potential accessible breakeven

Horst G. Zerbe

you. think one that's I for David,

David Kideckel

take I that. -- to thatâ€™s Yes, was going

a more that with it's, exercise moving But targeting defining priority one still What of highest that's that Tadalafil to to as ago, can CRL, was subsequent being he's we you And and opportunity. And when business development outreach of going the you'll something very and types two with in those are That's thing of with, segments we of focused and and top priorities. used where far And that's priority margin I address product at and those and I to RIZA, that's the hired what be another to have company.But CDMO major but that products that for be to should well And generating revenue, from and another other CDMO of new my areas So a have business months between pipeline, we which then if profitability, business on when that talk revenue mostly part And good going I in it's drugs a pivot several and part another careful be not to important businesses say our ED. U.S., it's team. are a about into that most segments defining a on when potential be one our then avenue. talk it's at the expect you is target.And is about very about the generating with undertaken important look RIZA Xiromed, calls. partner talk for that of we hearing to you company, about and numbers one conference our more thing we area, as we not our tell look as with the margin. and highest products be shrewd the forward, the basis. really next likely the launch the is opportunities. potential question approved within our of that that's are mean, you

Doug Destler.

to other have question, ability the high may be you. litigation successful the not you on expenses? Thank recapture arbitration may any to Should been answer. One does Tilray. or expenses But, company they Have the expenses, legal and regard able to regarding legal with settlement? be the those in

Tommy Kenny

much That on fees at the process answer of expenses. is rule a legal can end, as the Arbitration normally recoup Maybe legal I that. you means the can substance arbitrator as where the to contrary case. court will

Operator

Hugh Kyle.

Hugh Kyle

agreement Tommy, an with potentially in for your the Quick be sooner that or is regarding is Tommy, comment flow potential somewhere question if could settled. that a Tilray, without

Tommy Kenny

happen any indication sometime sooner, give we us something answer the anything would in that to that something but the can than We always other fall. question, hope don't have

Operator

and I We have Horst turn the will Zerbe reached of question-and-answer now call end closing for the over to remarks. session, the

Horst G. Zerbe

dedication, continuing work this for supporting to update on pivotal And for Naturally a I continuing forward contribute future all champ. previously look success company pleasure personal a thank you. the in investors once quarters our and like hard stage. will of to us.And concludes finally, this continued this as Thank what again has to directors believe mentioned, the and these of to steering as IntelGenx me. would been our its I of calls instead would reiterate, going note, team support I in to lead and management our And it quarter forward their call. And for first team. like I to investor to XXXX Dwight

hands. As everybody comment, my and my goodbye. torch there passing right last the in doubt the I'm that to mind no into Thanks is really

Operator

today's for concludes you lines you your Thank time. this your disconnect participation. and at conference may This

IntelGenx Technologies (IGXT) 11 May 232023 Q1 Earnings call transcript