IntelGenx Reports Results for the Nine Months Ended September 30, 2008
November 12 2008 - 5:30AM
Marketwired
IntelGenx Technologies Corp. (TSX: IGX)(OTCBB: IGXT)("IntelGenx")
today announced its results for the nine months ended September 30,
2008.
OPERATIONAL HIGHLIGHTS
Successfully completed pivotal clinical trials for CPI-300,
which confirm that CPI-300 is bioequivalent to the reference
product. CPI-300 was formulated using IntelGenx's proprietary
controlled release technology. It contains a new strength of
antidepressant developed to complete the dosing options for
physicians who currently prescribe the drug. CPI-300 provides a
more convenient dosing option for those patients currently taking
the higher strength and is expected to be indicated for the
treatment of major depressive disorder (MDD).
FINANCIAL HIGHLIGHTS
The balance of restricted cash available to complete CPI-300 is
$724,521 at September 30, 3008 (December 31, 2007: nil), in line
with expectations.
Cash and cash equivalents (excluding restricted cash) at
September 30, 2008 of $766,012 (December 31, 2007: $330,967).
Net loss of $839,209 for the three months ended September 30,
2008 (September 30, 2007: $533,480), in line with expectations.
Report 20,850,002 common shares outstanding at September 30,
2008 (December 31, 2007: 16,157,146).
In announcing the results, Horst Zerbe, President and Chief
Executive Officer of IntelGenx, said:
"The third quarter marked a significant milestone for IntelGenx
with the confirmation that we have attained bioequivalency with the
CPI-300 antidepressant. I am pleased to add that this success has
been achieved within the budget and in line with the project
timetable. We are now preparing the 505(b)(2) NDA and plan to
submit the application with the FDA in the first quarter of
2009."
About IntelGenx Corp.:
IntelGenx Corp. is a drug delivery company focused on the
development of oral controlled-release products as well as novel
rapidly disintegrating delivery systems. The Company uses its
unique multiple layer delivery system to provide zero-order release
of active drugs in the gastro-intestinal tract. IntelGenx has also
developed novel delivery technologies for the rapid delivery of
pharmaceutically active substances in the oral cavity based on its
experience with rapidly disintegrating films. The Company's
research and development pipeline includes products for the
treatment of pain, hypertension, osteoarthritis, and depressive
disorders. More information is available about the company at
www.intelgenx.com.
Forward Looking Statements:
This release may contain forward-looking statements. Various
factors could cause actual results to differ materially from those
projected in forward-looking statements. Although the Company
believes that the forward-looking statements contained herein are
reasonable, it can give no assurance that the Company's
expectations are correct. All forward-looking statements are
expressly qualified in their entirety by this cautionary
statement.
The TSX and OTCBB have neither approved nor disapproved of the
information contained herein.
Contacts: IntelGenx Corp. Dr. Horst G. Zerbe President and CEO
(514) 331-7440 x 201 Email: horst@IntelGenx.com Website:
www.intelgenx.com
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