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

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Unidentified Analyst: Okay. And when can we expect — I missed the first part, I apologize. When do we think commercialization is going to happen with some revenue with RIZA?

Dr. David Kideckel: We expect any time from the end of 2023 up until the beginning parts of 2024. And the reason why there’s a bit of a kind of a goalpost there. It’s really just due to some moving parts that we’re trying to work through right now. But I would say latest, we hope, is going to be the first half of 2024.

Unidentified Analyst: Okay. And there was — I think it was — she had left one of your colleagues and she had mentioned a cat product. So I know that that’s — we didn’t pull it out than that. We heard — we have been hearing that some cat or dog product soon, I hope so. So listen, I’m happy that we’re seeing some revenue and a good job to bring some money in. I think that you don’t want to sell it so cheap and you guys got to stay in business, so you got to raise the money, right? So if you have to dilute somewhat I’m fine with it, get to the goalpost.

Andre Godin: Yeah. Abraham, I would have obviously expected to talk about a little bit more about the financing, but unfortunately, I can’t. But I can tell you that it’s really coming.

Unidentified Analyst: All right. I’m looking forward, because you guys get — you cut it to a wire here. Good luck.

Dwight Gorham: Thanks, Abraham.

Unidentified Analyst: I am rooting shareholders for many years and I’m — I like the new mousetrap, but I’m rooting, and hopefully, we’ll all become winners one of these days.

Dwight Gorham: Yeah. Thanks.

Unidentified Analyst: Thank you.

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

Unidentified Analyst: Hey. How are you? I’m on a headset with the microphone, how is the audio on your side?

Andre Godin: Great. Thank you.

Unidentified Analyst: Good. Excellent. All right. Gentlemen, good work on the pending contracts for $9 million over the next three years. Wonderful, I hope things are going well. Just a quick question. I have been a holder for a few years and I don’t know if you want to share the frustration of, I don’t know, three or four callers ago, but on the revenue front, it is — what it is — we need to use negative descriptive adjectives and whatnot. But I just did a little research and I mean my blue sky thinking may be ridiculous, but the TAM of the vitamin and supplement market is $39.4 billion. I think that’s U.S. I don’t know about worldwide. That was as of 2022. So real quick, going back as a little kid, I remember there were chewable vitamins, then as we grow the we swallowed the vitamins and then within the last decade, there was like a huge, let’s say, emergence marketing of like gummy type of vitamins.

Your technology — it’s not novel. I mean I remember Listening scripts back in the day. But I don’t know if there are like film vitamins. I think it’s exceptional idea. And would it — if you capture the de minimis amount of the TAM of $40 billion, that would be huge. So I’ll stop and ask has there ever been any discussion thoughts about supplements and using your varied technology.

Dr. David Kideckel: So — okay, it’s David here. I’ll take a stab at this one. I mean it’s a fair point. Since Dwight and myself joined at roughly the same time points and to take really why Dwight was brought on to take the organization from R&D to commercial. I mean, the sky is the limit here, in my opinion, where we have to do — what we have to do to execute is the laser focus and with our plan to focus on two to three products and really do well with them, then we can start talking about where do we go from there from a very strategic perspective. But to rewrite the strategy and pivot to an altogether different area with one that you’d have to come fully up to speed on, I think that could actually take longer than pursuing our very laser-focused strategy right now.

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