IntelGenx Technologies Corp. (IGXT) Q2 2023 Earnings Call Transcript

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Unidentified Analyst: Okay. Thank you. One question for Dwight. In your announcement you put out, you want to do a top-down or complete review of the — where IGX was the product to focus, any redirection of the company? Is this going to be the status quo on the products that are under development and under commercial considerations.

Dwight Gorham: Yeah. That’s a great question. You’re talking about a top-down look at the strategy. As David said a couple of times, but I’ll reiterate, there’s some players with — there’s some products with the agency that we need to bring to market. If we bring them to market with the CDMO business that was announced last week. Then we have a business that’s EBITDA positive likely. In the next quarter to quarter and a half, there’s a full strategy review I need to go through. The other gentleman, obviously, brought the vitamins and something we’re not going to discount. But in the short-term operation, we’re going to really focus on making — hitting the bogeys and changing it from promising and not delivering the promising and delivering. And in the — maybe not the next conference — not the next call, but the one after we can talk about potential strategic changes in direction.

Unidentified Analyst: So on the short-term bogeys you’re addressing to be RIZAPORT potentially if you get Belbuca approved in the CDMO arena?

Dwight Gorham: Buprenorphine, yeah. Buprenorphine, RIZA and the CMO for the CDMO volume. Those three products on mature late in 2024, if the FDA approves the Buprenorphine by then as we go into 2025 the company then cash flow EBITDA positive.

Unidentified Analyst: Okay. Thanks.

Dwight Gorham: That’s the game we’re planning right now and that’s the focus in the business, staying by optically focused.

Unidentified Analyst: All right. And so the — is VetaFilm still in that arena to?

Dwight Gorham: Absolutely. We talked about it. I talked in my remarks about the work that David is doing, but it’s more R&D focused, it’s pipeline, commercial sales beyond 225. But R&D — there’s significant R&D revenues in the next three months to nine months.

Unidentified Analyst: Okay. Okay. And that’s my end of my question. Thank you, Dwight.

Dwight Gorham: You are welcome.

Operator: Thank you very much. That appears to be the end of our question-and-answer session. I will now turn the call back over to Mr. Gorham for any closing remarks.

Dwight Gorham: Great. I want to thank everybody for their patience and their time. Clearly, we’ve come a long way over the last five years and there’s a significant amount of frustration in our job is to clean that up and make it clear to everybody directionally where we’re going. And I just ask that people hang in there for the next three months, six months, nine months and you start to see a progression of positive news of the business. So thank you very much for your confidence and I look forward to our next call in three months and the one after that and six.

Operator: Thank you very much. This does conclude today’s conference call. You may disconnect your phone lines at this time and have a wonderful day. Thank you for your…

Dwight Gorham: You too.

Operator: …participation.

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