Intellipharmaceutics International Inc. (Nasdaq:IPCI) (TSX:I)
("Intellipharmaceutics" or the "Company"), a pharmaceutical company
specializing in the research, development and manufacture of novel
and generic controlled-release and targeted-release oral solid
dosage drugs announced that, effective at the opening of trading on
Monday, March 20, 2017, common shares of the Company will commence
trading on the Toronto Stock Exchange (“TSX”) under the symbol
“IPCI”.
With this change, the Company’s TSX trading symbol is now
harmonized with the Nasdaq stock market symbol. This symbol
change does not require any action by current shareholders. There
is no change in the company's name, no change in its CUSIP number
and no consolidation of capital.
About Intellipharmaceutics
Intellipharmaceutics International Inc. is a
pharmaceutical company specializing in the research, development
and manufacture of novel and generic controlled-release and
targeted-release oral solid dosage drugs. The Company’s patented
Hypermatrix™ technology is a multidimensional controlled-release
drug delivery platform that can be applied to the efficient
development of a wide range of existing and new pharmaceuticals.
Based on this technology platform, Intellipharmaceutics has
developed several drug delivery systems and a pipeline of products
(some of which have received U.S. Food and Drug Administration
("FDA") approval) and product candidates in various stages of
development, including abbreviated new drug applications ("ANDAs")
filed with the FDA (and one Abbreviated New Drug Submission filed
with Health Canada) in therapeutic areas that include neurology,
cardiovascular, gastrointestinal tract, diabetes and pain.
Intellipharmaceutics also has New Drug
Application (“NDA”) 505(b)(2) specialty drug product candidates in
its development pipeline. These include RexistaTM (abuse deterrent
oxycodone hydrochloride extended release tablets), based on its
proprietary nPODDDS™ novel Point Of Divergence Drug Delivery System
(for which an NDA has been filed with the FDA), and Regabatin™ XR
(pregabalin extended-release capsules). Our current development
effort is increasingly directed towards improved
difficult-to-develop controlled-release drugs which follow an NDA
505(b)(2) regulatory pathway. The Company has increased its
research and development emphasis towards new product development,
facilitated by the 505(b)(2) regulatory pathway, by advancing the
product development program for both RexistaTM and
Regabatin™. The 505(b)(2) pathway (which relies in part upon
the approving agency’s findings for a previously approved drug)
both accelerates development timelines and reduces costs in
comparison to NDAs for new chemical entities. An advantage of our
strategy for development of NDA 505(b)(2) drugs is that our product
candidates can, if approved for sale by the FDA, potentially enjoy
an exclusivity period which may provide for greater commercial
opportunity relative to the generic ANDA route.
Cautionary Statement Regarding
Forward-Looking Information
Certain statements in this document constitute
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and/or
"forward-looking information" under the Securities Act (Ontario).
These statements include, without limitation, statements expressed
or implied regarding our plans, goals and milestones, status of
developments or expenditures relating to our business, plans to
fund our current activities, statements concerning our partnering
activities, health regulatory submissions, strategy, future
operations, future financial position, future sales, revenues and
profitability, projected costs, and market penetration. In some
cases, you can identify forward-looking statements by terminology
such as “may,” “will,” “should,” “expects,” “plans,” “plans to,”
“anticipates,” “believes,” “estimates,” “predicts,” “confident”,
“potential,” “continue,” “intends,” “could,” or the negative of
such terms or other comparable terminology. We made a number of
assumptions in the preparation of our forward-looking statements.
You should not place undue reliance on our forward-looking
statements, which are subject to a multitude of known and unknown
risks and uncertainties that could cause actual results, future
circumstances or events to differ materially from those stated in
or implied by the forward-looking statements. Risks, uncertainties
and other factors that could affect our actual results include, but
are not limited to, the effects of general economic conditions,
securing and maintaining corporate alliances, our estimates
regarding our capital requirements, and the effect of capital
market conditions and other factors, including the current status
of our product development programs, on capital availability, the
potential dilutive effects of any future financing and the expected
use of any proceeds from any offering of our securities, our
ability to maintain compliance with the continued listing
requirements of the principal markets on which our securities are
traded, our programs regarding research, development and
commercialization of our product candidates, the timing of such
programs, the timing, costs and uncertainties regarding obtaining
regulatory approvals to market our product candidates and the
difficulty in predicting the timing and results of any product
launches, and the timing and amount of any available investment tax
credits, the actual or perceived benefits to users of our drug
delivery technologies, products and product candidates as compared
to others, our ability to establish and maintain valid and
enforceable intellectual property rights in our drug delivery
technologies, products and product candidates, the scope of
protection provided by intellectual property for our drug delivery
technologies, products and product candidates, the actual size of
the potential markets for any of our products and product
candidates compared to our market estimates, our selection and
licensing of products and product candidates, our ability to
attract distributors and collaborators with the ability to fund
patent litigation and with acceptable development, regulatory and
commercialization expertise and the benefits to be derived from
such collaborative efforts, sources of revenues and anticipated
revenues, including contributions from distributors and
collaborators, product sales, license agreements and other
collaborative efforts for the development and commercialization of
product candidates, our ability to create an effective direct sales
and marketing infrastructure for products we elect to market and
sell directly, the rate and degree of market acceptance of our
products, delays that may be caused by changing regulatory
requirements, the difficulty in predicting the timing of regulatory
approval and launch of competitive products, the difficulty in
predicting the impact of competitive products on volume, pricing,
rebates and other allowances, the inability to forecast wholesaler
demand and/or wholesaler buying patterns, the seasonal fluctuation
in the numbers of prescriptions written for our Focalin XR®
(dexmethylphenidate hydrochloride extended-release) capsules which
may produce substantial fluctuations in revenues, the timing and
amount of insurance reimbursement for our products, changes in laws
and regulations affecting the conditions required by the FDA for
approval, testing and labelling of drugs including abuse or
overdose deterrent properties, and changes affecting how opioids
are regulated and prescribed by physicians, changes in laws and
regulations, including Medicare and Medicaid, affecting among other
things, pricing and reimbursement of pharmaceutical products, the
success and pricing of other competing therapies that may become
available, our ability to retain and hire qualified employees, the
availability and pricing of third party sourced products and
materials, challenges related to the development,
commercialization, technology transfer, scale-up, and/or process
validation of manufacturing processes for our products or product
candidates, the manufacturing capacity of third-party manufacturers
that we may use for our products, the successful compliance with
FDA, Health Canada and other governmental regulations applicable to
the Company and its third party manufacturers' facilities, products
and/or businesses, difficulties, delays or changes in the FDA
approval process or test criteria for ANDAs and NDAs, challenges in
securing final FDA approval for our product candidates including,
RexistaTM in particular, if a patent infringement suit is filed
against us, which could delay the FDA’s final approval of such
product candidates, healthcare reform measures could hinder or
prevent the commercial success of our products and product
candidates, the FDA may not approve requested product labelling for
our product candidate(s) having abuse-deterrent properties, risks
associated with cyber-security and the potential for vulnerability
of the digital information of the Company or a current and/or
future drug development or commercialization partner of the Company
and risks arising from the ability and willingness of our
third-party commercialization partners to provide documentation
that may be required to support information on revenues earned by
us from those commercialization partners. Additional risks and
uncertainties relating to the Company and our business can be found
in the “Risk Factors” section of our latest annual information
form, our latest Form 20-F, and our latest Form F-3 (including any
documents forming a part thereof or incorporated by reference
therein), as well as in our reports, public disclosure documents
and other filings with the securities commissions and other
regulatory bodies in Canada and the U.S., which are available on
www.sedar.com and www.sec.gov. The forward-looking statements
reflect our current views with respect to future events and are
based on what we believe are reasonable assumptions as of the date
of this document, and we disclaim any intention and have no
obligation or responsibility, except as required by law, to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
Trademarks used herein are the property of their
respective holders.
Company Contact:
Intellipharmaceutics International Inc.
Domenic Della Penna
Chief Financial Officer
416-798-3001 ext. 106
investors@intellipharmaceutics.com
Investor Contact:
ProActive Capital
Kirin Smith
646-863-6519
ksmith@proactivecapital.com
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