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Intellipharmaceutics International, Inc. (IPCI) Receives Aegis Update

Intellipharmaceutics International, Inc. (NASDAQ: IPCI) is a pharmaceutical company in the business of researching, developing, and manufacturing new and generic controlled and targeted release oral solid dosage drugs. The company has a large product portfolio which all follow a New Drug Application (NDA) 505(b)(2) U.S. Food and Drug Administration (FDA) regulatory pathway. The company’s controlled-release generic products follow an Abbreviated New Drug Application (ANDA) pathway.

IPCI currently has 11 products in the pipeline, more than half of which have either been filed for FDA approval or have already been approved. Two products, Regabatin™ XR and Carvedilol, are still in clinical trial stages. The company utilizes its patented Hypermatrix™ technology as a drug delivery platform that can be used to efficiently develop an array of new and existing pharmaceuticals. IPCI’s portfolio covers therapeutics areas such as pain, neurology, cardiovascular, diabetes, and gastrointestinal tract.

In October of this year, Intellipharmaceutics International released its financial results for the fiscal quarter ended August 31, 2016. During the quarter, IPCI reported revenues of $600,000 relating to its license and commercialization agreement with Par Pharmaceuticals, Inc. At this time, the company also announced the tentative approval by the FDA of its generic Seroquel XR®. Additionally, IPCI announced that it had signed an exclusive license and commercial supply agreement with Mallinckrodt, LLC for its generic Lamictal® XR™, Seroquel® and Pristiq®.

Between May 31, 2016 and August 31, 2016, the company reported an increase in cash of $1.8 million. Intellipharmaceutics International, Inc. reported a cash balance of $4.5 million after the $3 million payment from Mallinckrodt. As a result of this recent activity, Aegis Capital Corp. (http://nnw.fm/zW2ql) offered a company update, giving IPCI a ‘Buy’ rating with a price target of $8 per share. The update was released after the company submitted an NDA for abuse-deterrent Rexista extended release tablets. In addition, Intellipharmaceutics International has developed a system to pair with Rexista in order to deter opioid abuse, which has been declared as an epidemic by the CDC.

According to the Cerbat Gem Market News and Analysis (http://nnw.fm/KtPN1), other equities research analysts, such as Maxim Group and Brean Capital, also gave the company a ‘Buy’ rating with price targets of $6 and $8 per share, respectively. Institutional investor Morgan Stanley raised its position in the company by over 4%, giving it just below 62,000 shares of IPCI worth $130,000. Hedge funds and institutional investors now own 1.68% of Intellipharmaceutics International, Inc., and the company’s market cap currently stands at $84.29 million.

For more information, visit the company’s website at www.intellipharmaceutics.com

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