Intelgenx Technologies Corp - IGXT STOCK NEWS

IntelGenx announced the preliminary efficacy results for its BUENA Phase 2a clinical trial evaluating Montelukast VersaFilm® in patients with mild to moderate Alzheimer’s disease (AD). The trial involved 59 participants, with 52 completing the 26-week treatment combining Montelukast buccal film with standard cholinesterase inhibitors. No overall cognitive improvement was observed compared to placebo. However, a significant cognitive benefit was noted in patients receiving at least 80% of the 30-mg twice-daily dose, with a benefit magnitude of d=0.5. The final comprehensive report is expected in Q3 2024.

According to Prof. Ludwig Aigner, these findings offer preliminary human evidence of Montelukast’s potential in treating AD, aligning with preclinical studies. The Alzheimer’s market is projected to grow significantly, reaching $13.7 billion by 2030.

IntelGenx Corp. (OTCQB: IGXT; TSX: IGX) has initiated a sale and investment solicitation process (SISP) following a court order under the Companies’ Creditors Arrangement Act (CCAA). The Superior Court of Québec approved the SISP and a purchase agreement with atai Life Sciences AG, establishing a baseline bid for the company's assets. The two-phased SISP process will be monitored by EY, with the first phase bid deadline set for July 15, 2024. Interested parties should contact EY representatives for details. The process aims to attract superior bids and ensure a going-concern solution for IntelGenx.

IntelGenx Technologies Corp. (OTCQB: IGXT; TSX: IGX), a leading drug delivery company, received court approval for a Sale and Investment Solicitation Process (SISP) following an initial order issued under the Companies' Creditors Arrangement Act (CCAA) by the Québec Superior Court.

Ernst & Young Inc. was appointed as the monitor, and interim debtor-in-possession financing was provided by atai Life Sciences AG to continue operations. The court-approved SISP aims to generate interest in IntelGenx's business or assets, or a potential recapitalization. atai Life Sciences AG was also approved as the 'stalking horse' bid, establishing a baseline for other bids.

The SISP will be a two-phase process, with the first phase's non-binding LOI submission deadline on July 15, 2024. Ongoing updates and relevant documents will be available on the Monitor’s website.

IntelGenx Technologies announced it is seeking protection from creditors under the CCAA, allowing time to review strategic alternatives. The decision was made after consulting legal and financial advisors. They aim to generate interest in their business or assets, or consider recapitalization. The initial court order will likely include a stay on creditor claims and authorize interim DIP financing to continue operations during restructuring. Trading on the TSX has been halted pending a review of IntelGenx's suitability for listing. Changes in the Board of Directors include the resignation of Clemens Mayr, Sahil Kirpekar, and Ryan Barrett.

IntelGenx Technologies Corp. announced the voting results on the election of directors at their annual meeting, where shareholders voted in favor of all items of business. The meeting was held virtually, with the majority of votes cast in favor of the directors. Detailed results showed the election of eight directors and ratification of the independent auditors for the fiscal year 2024. Shareholders holding 62.79% of the common stock were present at the meeting.

IntelGenx Corp. announces the administration of Montelukast VersaFilm® to the first Parkinson’s Disease patients in the Phase 2 MONTPARK clinical trial. The trial aims to investigate the efficacy of high-dose Montelukast on early-to-moderate PD progression, with 90 patients receiving the treatment or placebo for 18 months.

IntelGenx Corp. (IGXT) receives a Complete Response Letter from the FDA for Buprenorphine Buccal Film, requiring additional Pharmaceutical Quality information. The FDA confirms no further facility inspection needed. The drug is a generic version of Belbuca®, used for chronic pain management.

IntelGenx Technologies Corp. reported financial results for Q4 2023 and full-year 2023, highlighting revenue growth, reduced net comprehensive losses, and strategic partnerships. The company expects significant revenue generation in 2024 through product launches. Financially, Q4 revenue increased to $426,000, with a net comprehensive loss of $1.7 million. Full-year revenue reached $1.04 million, with a net comprehensive loss of $10.1 million. Recent developments include private placement financing, Regulation A offering, partnership expansions, and positive clinical trial results.

IntelGenx Technologies Corp. (IGXT) to release Q4 and full year 2023 financial results on March 21, 2024, with a conference call hosted by CEO and CFO.