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Intellipharmaceutics International, since 1998, has been a leading innovator in the global pharmaceutical market. The company's patented Hypermatrix™ technology is a validated controlled-release drug delivery platform applicable to various pharmaceuticals, including generics and new drugs. Listed on NASDAQ and TSX in 2009, Intellipharmaceutics focuses on developing a diverse pipeline of drugs across therapeutic areas.
Intellipharmaceutics specializes in the research, development, and manufacture of novel and generic controlled-release and targeted-release oral solid dosage drugs. The company's proprietary drug delivery platform, Hypermatrix™, is designed for a wide range of pharmaceuticals. Intellipharmaceutics has several products in development stages, including drug candidates with FDA approval.
The company's recent announcements include the issuance of common share purchase options and the transfer of its listing to NEX. However, Intellipharmaceutics faces challenges, such as a cease trade order due to failure to file financial reports, which led to the downgrading of its common stock. The company aims to address these issues and continue its operations.
On June 14, 2024, Intellipharmaceutics announced that its stock (OTCQB:IPCIF, TSX:IPCI.H) will be downgraded to the OTC Expert Market on June 17, 2024, due to the failure to file Form 20-F for the fiscal year ending November 30, 2023.
The Expert Market quotes are 'Unsolicited Only,' restricting public viewings to broker-dealers and sophisticated investors. The company is also under a cease trade order from the Ontario Securities Commission since March 5, 2024, due to non-filing of important financial statements and forms.
There is no assurance that Intellipharmaceutics will rectify these issues promptly or at all.
Intellipharmaceutics International Inc. (OTCQB:IPCIF) reported its operational results for the three and nine months ending August 31, 2022. The company achieved revenues of $19,068, attributed to a license agreement with Taro Pharmaceuticals, compared to $Nil in Q3 2021. Net loss decreased to $296,043 per share, from $1,264,305 in the previous year. R&D expenses declined to $626,069, while SG&A expenses fell to $(292,296). As of the reporting date, cash balance stood at $79,649. The company highlighted the need for additional funding for continued R&D and product commercialization.
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