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IntelGenx Technologies Corp., based in Montreal, is dedicated to developing innovative proprietary technologies for enhanced drug delivery. The company's business strategy involves leveraging these technologies to enhance existing drug compounds with proven efficacy and safety. Through collaborations with strategic partners, IntelGenx reintroduces these compounds to the market as branded products with improved deliverability and efficacy. The company offers full-service pharmaceutical development, including formulation, clinical development, regulatory activities, manufacturing, and packaging. IntelGenx's experienced team works with both new chemical entities and established therapeutic active pharmaceutical ingredients, utilizing innovative drug delivery systems for a competitive edge and product extension opportunities.
IntelGenx Technologies announced that holders of its 6.0% convertible unsecured promissory notes have approved amendments extending the maturity date from June 1, 2021, to October 31, 2024. The interest rate will increase from 6% to 8%, and the conversion ratio will change, reducing the conversion price from U.S.$0.80 to U.S.$0.44. Additionally, the trigger price for IntelGenx's option to convert will be lowered from U.S.$1.40 to U.S.$0.88. These changes take effect on June 1, 2021, pending approval from the TSX Venture Exchange.
IntelGenx Technologies Corp. (TSX-V:IGX) (OTCQB:IGXT) has successfully completed a US$12,346,300 investment from ATAI Life Sciences AG, resulting in atai acquiring approximately 25% of IntelGenx's common stock. This strategic partnership is aimed at enhancing IntelGenx's capabilities in the psychedelic therapeutics field while providing essential financial resources to advance its pharmaceutical film products toward commercialization. Both companies expressed enthusiasm for the partnership, emphasizing its potential for innovation in drug delivery.
IntelGenx Technologies Corp. (TSX V:IGX)(OTCQB:IGXT) reported Q1 2021 financial results. Revenue increased by 42% to $286,000 from $202,000 in Q1 2020. Net comprehensive loss narrowed to $2.3 million from $2.9 million, translating to a loss of $0.02 per share. Adjusted EBITDA loss improved to $1.7 million. Significant developments included a partnership with ATAI Life Sciences AG for Salvinorin A formulations and the receipt of a secured loan of $2.5 million. The company holds $2 million in cash and short-term investments as of March 31, 2021.
IntelGenx Corp. (TSX-V:IGX) (OTCQB:IGXT) announced a second feasibility agreement with ATAI Life Sciences AG for developing formulations of Salvinorin A, targeting treatment-resistant depression. Following a strategic partnership signed earlier in 2021, this collaboration aims to leverage IntelGenx's film technology in innovative therapeutics. CEO Dr. Horst G. Zerbe expressed confidence in maximizing shareholder value through this partnership, which has received shareholder approval.
IntelGenx Technologies has announced that its shareholders overwhelmingly approved an investment from ATAI Life Sciences AG during a virtual annual meeting. 96.6% of votes supported the investment, which will see atai acquiring a 25% stake in IntelGenx. Additionally, shareholders approved an increase in the company’s authorized common stock from 200 million to 450 million shares. The completion of this investment is expected around May 14, 2021, as conditions for closure are substantially met.
IntelGenx Technologies Corp. (TSX-V:IGX) (OTCQB:IGXT) will release its first quarter 2021 financial results on May 13, 2021, after market close. A conference call will follow at 4:30 p.m. ET, featuring CEO Dr. Horst G. Zerbe and CFO Andre Godin. The call will address financial results and provide a business update, and will be available live and archived on the company's website. IntelGenx specializes in drug delivery through innovative pharmaceutical films, highlighting advanced technologies such as VersaFilm® and VetaFilm™.
IntelGenx Technologies Corp. (TSX-V:IGX) (OTCQB:IGXT) has proposed amendments to its 6.0% convertible unsecured promissory notes, originally issued on May 8, 2018. The key changes include extending the maturity date to October 31, 2024, adjusting the conversion ratio to 11,363 shares per U.S.$5,000, effectively lowering the conversion price from U.S.$0.80 to U.S.$0.44, and reducing the trigger price for conversion to U.S.$0.88. An aggregate principal amount of U.S.$1.6 million is currently outstanding. The proposed amendments are pending approval from the TSX Venture Exchange and the majority of note holders.
IntelGenx Corp. (TSX-V:IGX)(OTCQB:IGXT) announced the successful shipment of 75,000 CBD Filmstrips to Heritage Cannabis. This shipment marks a milestone as the first commercial delivery from IntelGenx’s Montreal facility under strict Canadian Good Production Practice (GPP) regulations. The CBD Filmstrips, using VersaFilm® technology, are registered with Health Canada and Australia’s Therapeutic Goods Administration for medicinal use. Leaders from both IntelGenx and Heritage Cannabis expressed optimism about the innovative delivery system and future market prospects.
IntelGenx Technologies Corp. (TSX-V:IGX, OTCQB:IGXT) will release its fourth quarter and full-year 2020 financial results on March 25, 2021, after market close. The conference call, hosted by CEO Dr. Horst G. Zerbe and CFO Andre Godin, is scheduled for 4:30 PM ET. The call will provide insights into the company’s financial performance and future outlook. IntelGenx is a leader in drug delivery, focusing on pharmaceutical films to meet unmet medical needs, with advanced technologies like VersaFilm® and DisinteQ™.
IntelGenx Technologies Corp. has entered a transformative strategic partnership with atai Life Sciences, which includes a 25% equity investment and a $2 million secured loan. The collaboration aims to develop compounds for mental health treatment using IntelGenx's pharmaceutical film technology. Shareholder approval is needed for the deal, set for discussion at the May 11, 2021, Annual Meeting. This partnership positions IntelGenx for leadership in psychedelic therapeutics and may enhance its commercialization efforts in innovative drug delivery.
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