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Wednesday, June 29, 2022

How Did The IntelGenx Techs (IGXT) Stock Rocket In The Last Session, Jumping 33%?

On Friday, IntelGenx Techs Corp (OTCQB:IGXT) closed at $0.5700, up 32.99 percent for the day. Shares of IGXT stock have been trading in a range of $0.4511 to $0.6264 for the day. IGXT stock rose over 35.71% in the last month with an average volume for the month of over 238.41K shares. According to the performance over the past three months, IGXT stock gained over 48.05%, with an average volume of 156.22K. In the last year, IGXT stock has gained over 278.53% in price, reaching a high of $0.6900 with a $63.84M market cap. IGXT stock rose as the company plans to resume clinical trials for one of its lead products.

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Which candidate will IGXT resume testing?

As a leading drug delivery company, IntelGenx focuses on the development and manufacture of pharmaceutical films. The innovative film technologies from IGXT, including VersaFilm, DisinteQ, VetaFilm, and transdermal VevaDerm, can help address medical needs with next generation pharmaceuticals. Patients and physicians will benefit substantially from the innovative products in IGXT’s pipeline for many therapeutic conditions.

The team at IGXT provides comprehensive pharmaceutical services, including R&D, analytical development, clinical monitoring, intellectual property, and regulatory services to pharmaceutical partners. A state-of-the-art manufacturing facility at IGXT can provide services from lab-scale to pilot-scale and commercial-scale productions.  

IntelGenx announced last week that it intends to resume patient screening in its ongoing Montelukast VersaFilm Phase 2a (“BUENA”) clinical trial. In response to IGXT’s amended Clinical Trial Application, Health Canada (“HC”) issued a No Objection Letter (“NOL”) to conduct the trial in patients with mild to moderate Alzheimer’s Disease.

  • IGXT announced in Q1-2020 that it had received HC approval for an amended BUENA trial protocol, which enabled it to continue with an increased daily dose in the trial.
  • In response to concerns for the health and safety of clinical trial staff, IGXT informed HC in the second quarter of 2020 that the BUENA study was temporarily on hold due to the higher risk of severe illness from COVID-19 in the BUENA study participants.
  • In October 2021, patient screening under the amended protocol will resume following this NOL.
  • As AD treatment options remain limited and no approved drugs are disease-modifying, IGXT is very excited to resume the study and evaluate Montelukast’s potential as a much-needed AD treatment.
  • As a direct result of the convertible notes offering that closed in Q3-2021, IGXT is in a fortunate position to be able to complete this crucial study, and plans to resume patient screening activities by the end of this month.

The celebration of IGXT:

Berk Sumen, Head of TSX Company Services, TMX Group, joined IntelGenx (IGXT) leadership on Tuesday to celebrate IGXT’s graduation to Toronto Stock Exchange and open the market.ticable this month.  

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