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

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Operator: Thank you very much. [Operator Instructions] Okay. Our next question is coming from Justin Foster [ph], who’s a private investor. Justin, your line is live.

Unidentified Analyst: Thanks. Good afternoon, gentlemen. On the financing that you remarked upon, I know that you cannot expand upon it at great length. However, could you — since you have confidence that it will be accomplished, give us an idea, does it involve issuing of new shares, warrants, is it dilutive, is it internal people forwarding some loan to the company. Can you give us a little bit of direction there without compromising your need for restriction of information at this moment?

Andre Godin: Yeah. There’s not much I can say. But what I can say is that, yeah, there will be some dilution, but it will be in — most of it will be in very strong and — so for the long-term, that is very clear in the process. But the terms, obviously, I cannot disclose, because they haven’t been announced publicly. But we’re trying to avoid as much as possible dilution, but we need the money. We’re going commercial next year, maybe the end of this year or for sure, next year. So we need to get there and that’s what we’re doing. We’re getting a bridge to get us to next year.

Unidentified Analyst: Okay. Thank you for that. Thanks. Much appreciated. I think the good part of all of that is you’re starting out with not a lot of shares so that investors can afford a little bit of dilution and you’ve been wonderfully adamant about not reversing shares just to increase the share price in order to get financing. So that — whatever the disappointments out there, both those things are certainly appreciated by your shareholders and I think it advances integrity on all of your parts and I for one thank you for that and one good luck next quarter.

Dwight Gorham: Thank you.

Unidentified Analyst: Thank you.

Operator: Thanks. Thank you very much. Your next question is coming from Tom Miglino [ph], who is also a private investor. Tom, your line is live.

Unidentified Analyst: Thank you very much. Thank you for taking my calls. I think congratulations are in order. I think this was a very exciting quarter. I’ve been in the stock for probably eight years or nine years and it’s the most exciting quarter I’ve seen. So keep the good news coming. I was wondering if you could give us an update on the PEI project and how that testing is going with the non-humans?

Dr. David Kideckel: Yeah. I can — this is David Kideckel here. So the PEI project is underway. In fact, I was out there not too long ago to meet the individual researcher who was just starting testing in both dogs and eventually cats or the other way around. But we have just commenced that actual R&D or almost clinical trial in animals on that front. There hasn’t been any data received to-date.

Unidentified Analyst: Oh! I’m sorry. How — when do you expect that you might hear results? Is it something that’s imminent?

Dr. David Kideckel: No. And that’s something more to bridge our longer term entrants into the animal health space. I don’t know off the top of my head what the exact time lines are for any data coming through. But what I can tell you, too, that in, Mr. Gorham’s prepared remarks, he also mentioned another project that I’ve taken over since joining the company not too long ago. And that, if approved and if it goes through, we’ll have a lot of legs and potentially material upside to the company. And we hope to give investors in the market an update on that as soon as we have one, which we hope will be within the next quarter.

Unidentified Analyst: So the two animal health projects are not related. The one isn’t contingent upon the other.

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