IntelGenx Technologies Corp. (PNK:IGXT) Q3 2023 Earnings Call Transcript

IntelGenx Technologies Corp. (PNK:IGXT) Q3 2023 Earnings Call Transcript November 9, 2023

Operator: Greetings. Welcome to IntelGenx’s Third Quarter 2023 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this call is being recorded. I will now turn the conference over to your host Stephen Kilmer, Investor Relations at IntelGenx. You may begin.

Stephen Kilmer: Good afternoon, everyone, and thank you for joining us on today’s call. With me on the line are Dwight Gorham, IntelGenx’s CEO; Andre Godin, our President and CFO; Dr. Frank Pietrantonio, our Director of Clinical Research; Tommy Kenny, our Senior Vice President and General Counsel; and Dr. Horst Zerbe, IntelGenx’s Chairman. Before we begin, I would like to remind you all that amounts mentioned today are in U.S. dollars unless otherwise mentioned and today’s call may contain forward-looking information that represents our expectations as of today, and accordingly, are subject to change. We do not undertake any obligation to update any forward-looking statements except as may be required by U.S. and Canadian securities laws.

A medical scientist holding up a test tube, illustrating biopharmaceutical research.

A number of assumptions were made by us in preparing these forward-looking statements, which are subject to risks and results may differ materially. Details on these risks and assumptions can be found in our filings with the U.S. and Canadian Securities Commissions. I would now like to turn the call over to Mr. Gorham. Dwight?

Dwight Gorham: Thank you, Steve. Good afternoon, everyone, and thank you for joining us for the IntelGenx third quarter 2023 conference call. On today’s call, I will provide a corporate update and discuss the progress we’ve made on our key pipeline projects consistent with what we had previously committed to shareholders. Then Andre will review our financial results. Following that, we will open up the line for your questions. I will now update you on our key programs beginning with RIZAPORT. During the quarter, we received the first purchase order for RIZAFILM, the U.S. market name for RIZAPORT, from our U.S. commercial partner Gensco Pharma. This represents a significant milestone for the company as it is our first purchase order for commercial supply of a pharmaceutical oral film.

The purchase order triggered both an upfront order deposit payment as well as a pre-specified milestone payment both of which are reflected in our Q3 2023 financial results. We expect to ship the order to RIZAFILM product to Gensco in Q1 2024 for immediate launch to market. Production of the RIZAFILM is expected to commence in December 2023. Also Exeltis, our partner for RIZAPORT in Spain received this week the regulatory approval to implement a new strategy that enables product substitution at the pharmacy level. Based on the positive feedback they received from prescribing doctors and patients, we believe Exeltis new strategy will ultimately boost product sales. We are eager to see this new strategy implemented to increase product substitution at the pharmacy level and the corresponding increase in RIZAPORT sales in Spain.

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