IntelGenx Q2 2023: Revenue Decline 67%, Operating Costs Rise, What About Net Loss?
Portfolio Pulse from Nicolás Jose Rodriguez
IntelGenx Technologies Corp. reported a 67% decrease in total revenues for Q2 2023, with operating costs rising slightly. The company also reported a net comprehensive loss of $3.0 million for the quarter. Despite these financial setbacks, the company has achieved significant milestones, including completing enrollment in the BUENA study and signing a binding term sheet with a CDMO customer for oral film packaging services, expected to yield around $9 million over three years.
August 15, 2023 | 2:54 am
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IntelGenx's Q2 2023 financial results show a significant decrease in revenue and a slight increase in operating costs. However, the company has achieved key milestones and signed a deal expected to generate $9 million over three years.
The significant decrease in revenue and increase in operating costs reported by IntelGenx for Q2 2023 are likely to negatively impact the company's stock price in the short term. However, the company's recent achievements and the potential revenue from the new deal may help to offset these financial setbacks.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100