INTELLIPHARMACEUTICS INTL - IPCIF STOCK NEWS

Intellipharmaceutics International Inc. (OTCQB:IPCIF) reported Q2 2022 results showing a net loss of $840,654, an improvement from $1,000,184 in Q2 2021. Revenues fell to $Nil from $93,427, mainly due to reduced licensing income. R&D spending increased to $956,851 compared to $481,679 in the prior year, driven by royalty payment losses. SG&A expenses decreased to $243,501 from $453,219. The company ended May 31, 2022, with $372,795 in cash, indicating a reliance on potential future revenues and funding for ongoing operations and product development.

Intellipharmaceutics International Inc. (OTCQB:IPCIF) announced a delay in filing its financial statements for the interim period ending May 31, 2022, originally due July 15, 2022, due to COVID-19 impacts on senior management. The company aims to submit the Second Quarter Financial Filings by July 21, 2022. A failure-to-file cease trade order may be imposed but is expected to be revoked shortly after the filings are completed. Intellipharmaceutics is known for its innovative drug delivery systems and continues to operate normally despite the filing delay.

Intellipharmaceutics International Inc. (OTCQB:IPCIF) reported the reelection of five incumbent directors during its annual shareholder meeting on May 27, 2022. The nominees, including Dr. Isa Odidi and Dr. Amina Odidi, received a majority of votes in favor, with Dr. Isa Odidi securing 98.8% support. Shareholders also approved all other resolutions presented at the meeting. Intellipharmaceutics specializes in developing controlled-release and targeted-release oral solid dosage drugs, leveraging its patented Hypermatrix™ technology.

Intellipharmaceutics International (OTCQB:IPCIF) reported a net loss of $880,972 for Q1 2022, compared to a $924,566 loss in Q1 2021. Revenue reached $83,411, marking a significant increase from zero in the previous year, driven by licensing sales of generic Focalin XR. The company received Health Canada approval for generic Pristiq and FDA approval for extended-release Dexmethylphenidate, enhancing its product portfolio. However, operational funding remains a concern, with reliance on private placements and future product commercialization.

Intellipharmaceutics International Inc. (OTCQB:IPCIF) announced the results of its annual shareholder meeting held on February 4, 2022. All six nominees for the board of directors, including Dr. Isa Odidi and Dr. Amina Odidi, were re-elected, with voting results showing strong support (over 83% approval for most nominees). Additionally, all resolutions proposed were approved. The company specializes in developing controlled-release oral dosage drugs, leveraging its patented Hypermatrix technology to enhance drug delivery systems.

Intellipharmaceutics International Inc. (OTCQB:IPCIF) announced the passing of Kenneth Keirstead, a board member since 2006, who was valued for his contributions in healthcare and drug development. CEO Isa Odidi expressed deep sadness over Ken's loss, highlighting his expertise and role within the company. Despite this tragedy, Intellipharmaceutics continues to focus on its drug delivery pipeline, including products using its Hypermatrix™ technology.

Intellipharmaceutics International Inc. (OTCQB:IPCIF) released a statement addressing a request from IIROC regarding recent trading activity. The company stated that it is not aware of any undisclosed information that could explain the recent increase in its stock price and trading volume. Intellipharmaceutics specializes in developing novel and generic controlled-release oral solid dosage drugs, with patented technology and a pipeline that includes FDA-approved products and drug delivery systems.

Intellipharmaceutics International Inc. (OTCQB:IPCIF) reported a net loss of $1,264,305 for Q3 2021, contrasting with a net income of $1,026,941 in Q3 2020. Revenues fell to $0 from $328,781 year-over-year, primarily due to a lack of licensing income. The Company terminated exclusive license agreements with Tris Pharma, which may allow for future commercialization opportunities, though success is uncertain. R&D expenditures decreased to $723,224, while cash reserves stood at $1,107,698, relying on private placement proceeds and cost savings for short-term needs.

Intellipharmaceutics International Inc. (OTCQB:IPCIF) has completed a non-brokered private placement, selling 9,414,560 common shares at CAD$0.41 per share, generating total gross proceeds of CAD$3,859,969.60. The funds will support existing operations, provide working capital, and fund research and development activities. The shares are subject to a four-month hold period until August 22, 2021 and were sold exclusively to non-U.S. persons under Regulation S of the Securities Act of 1933. The private placement awaits final acceptance by the TSX.