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

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Unidentified Analyst: Thanks, David, for the answer. But I’m not saying to deviate from your laser-focused strategy. I’m saying to augment your strategy. If you think about supplements, they’re not — you don’t have to go through FDA process — approval process. There may be other certifications, whatnot that you have to go through. But it seems like a much easier lift, so to speak. And once again, with a TAM of just under $40 billion, if you captured hardly any of it, you’re going to make a ton more money than you’re making. So that other color frustrations are valid. If you’ve been a shareholder for five years, 10 years, it’s pretty much the same old TAM. I mean if you look at the revenues, there’s not much there.

So I’m not saying to take your eye off the ball. I think you should be laser-focused on your strategy, but there’s nothing more with diversifying your strategy, pulling in a new team, seeing what it takes to get a supplement on the market, even if it’s a small test batch, what have you. But once again, I mean, it’s so much easier than going through all these approvals and whatnot. It just seems like we’re jumping through Marriott hoops all the time. And if you hit it out of the park, wonderful, it’s going to give an answer, but why not diversify your revenue stream with something that may be very achievable, I mean, you go at any grocery, supermarket, drugstore, I mean, a shelf space may be difficult to come by, but that supplements a huge business, $40 billion is $40 billion.

Once again, if you capture a small one-tenth of 1%, I mean you do the math, that’s more revenues than you probably earned for the duration of the business thus far. So I’m not saying to take you off the ball, I’m not saying that remove the strategy or pivot from the strategy, I am saying that adds to the strategy and there’s no FDA approval for a supplement to my knowledge, vitamins what have you. So just food for thought, and if you implement it, you hit on it, you could send me a free pack of vitamins or a small kind of films. Thanks.

Dr. David Kideckel: No. thank you. And point notice.

Unidentified Analyst: All right. Cool. Thanks. I won’t go on and on. Hopefully, we’ll see a press release soon. Thanks.

Operator: Thank you, Adam. Your next question is coming from Brent Baker [ph], who is private investor. Brent, your line is live.

Unidentified Analyst: Yeah, guys. Talking about RIZ and how it’s the pillar of the company. Do you all have — I’m assuming you do, but I’m not sure if you can tell us, do you have any — I mean, what are you all projecting revenue-wise and do you think it’s in 2024 or 2025, I mean, what are you all thinking and is RIZ? I mean, as RIZ going to make the company cash flow positive?

Dr. David Kideckel: Hi. It’s David. I’ll take — okay, someone else want to take that?

Dwight Gorham: Yeah. I think…

Andre Godin: David, I will — okay. You take it.

Dwight Gorham: Yeah. So I mean we’ve never given guidance, but it will take more than RIZA, obviously, Buprenorphine, if approved and launched, will be probably the biggest contributor. So it’s hard to say when we will be cash flow positive. It depends on the performance of RIZA and Buprenorphine. But next year would probably be a stretch, but maybe 12 months to 15 months to 18 months and we should be there.

Unidentified Analyst: Okay. Thank you.

Operator: Thank you very much. [Operator Instructions] Your next question is coming from. You okay?

Dwight Gorham: No. I’m fine. Thank you.

Operator: Okay. Our next question is coming from Hugh Kelly, who’s a private investor. Hugh, your line is live.

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