This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.
11/11/2021
Good afternoon, ladies and gentlemen, and welcome to the Intel GenX third quarter 2021 financial results. At this time, all participants have been placed on the listen-only mode, and the floor will be open for questions and comments after the presentation. It is now my pleasure to turn the floor over to your host, Stephen Kilmer, Investor Relations. Sir, the floor is yours.
Thank you. Good afternoon, everyone, and thank you for joining us on today's call. With me on the line are Dr. Horst Urbe, IntelligentX's CEO, Andre Godin, our President and CFO, Tommy Kenney, our General Counsel, and Dr. Dana Madsen, the company's Vice President of Business and Corporate Development. Before we begin, I would like to remind you that all amounts mentioned today are in U.S. dollars unless otherwise mentioned, and today's call may contain forward-looking information that represents our expectations as of today and accordingly are subject to change. We do not undertake any obligation to update any forward-looking statements except as may be required by U.S. and Canadian securities laws. A number of assumptions were made by us in preparing these forward-looking statements, which are subject to risks and results may differ materially. Details on these risks and assumptions can be found in our filings with the U.S. and Canadian Securities Commissions. Finally, a quick administrative note in that regard. The SEC is closed today because of Memorial Day, so our filings for Q3 won't be accessible on Edgar or Cedar until tomorrow morning. With that said, I'd now like to turn over the call to Dr. Zerbe. Horst?
Thank you, Steve. Good afternoon, everyone, and thank you for joining us for the InterGenics third quarter 2021 conference call. On today's call, I will provide a corporate update and discuss the progress we have made on our Q3. Following that, Andre will review our Q3 2021 financial results. then we will open up the line for your questions. But first, on the Attai partnership, on August 4th, we appointed two Attai delegates, Frank Stegard to our board of directors. As a reminder, our partnership agreement with Attai provides that they are entitled to board representation proportional to their stake in the company. Their 25% ownership position entitles them to two board seats. Dr. Srinivas Rao is one of the co-founders of the Thai Life Sciences and currently serves as its Chief Scientific Officer. Dr. Rao, or Srini as we refer to him, has more professional experience in the pharmaceutical and biotechnology industries. He will serve on Intergenic's Compensation Committee. We also welcome Frank Stegart, ATTAI's Vice President of Investment Management and Operations. Frank serves on our audit committee. We very much look forward to Srini's and Frank's contributions as we continue to execute on our growth strategy. In September, we entered into an amended and restated secured loan agreement with ATTAI Life Sciences, which committed $6 million in future financial support to Intergenics. We needed to secure this loan facility in order to meet certain requirements in conjunction with our uplisting to the TSX. Moving on to Resupport, we were pleased to announce earlier in the quarter that Exceltis, our Resupport commercialization partner in 27 European countries, has finally launched Resupport in Spain. This is a major milestone for Intergenics as this is the first Versafilm-based product to launch in the global pharmaceutical market. Because of its neutral flavor and favorable mode of administration, it does not require swallowing a pill or consuming water. We believe that Resupport Versafilm offers an attractive therapeutic alternative for migraine patients, especially for those estimated 80% of patients who suffer from migraine-related nausea as well as those who suffer from dysphagia or difficulties following. With the European migraine drug market expected to approach 1.5 billion US dollars by 2024, we're looking forward to continuing to support Excelsis' launch of Resupport in Spain and in additional European countries in the future. Now moving on to Tadalafil. In September, we announced that Equestive Therapeutics, a co-development and commercialization partner for Tadalafil oral films, entered into a definitive license and supply agreement with an undisclosed leading men's health company. Tadalafil, as you will remember, is approved for the treatment of erectile dysfunction and benign prostatic hyperplasia, or BPH. This is an important development with Equestiv that will help make Tadalafil oral films available to men suffering from these conditions. Now, cannabis films. In August, we completed an initial shipment of CBD film strips in support of the launch of Heritage Cannabis CV4 control brand in Canada. This partnership helped Intengenics to transition from a development to commercial stage company and we are looking forward to continuing to work with Heritage on oral thin-film cannabis products. On Montelukast, in August, we closed a $2.1 million convertible notes offering with U.S. investors, the proceeds of which would be used to finance our Montelukast study. In Q2 of 2020, we placed on hold our Phase IIA Buena clinical trial in patients with mild to moderate Alzheimer's disease because the target study population is considered to be a higher risk group for severe illness from COVID-19. This quarter, we resume patient screening for this study, which is proceeding under the amended protocol with a higher daily dose that was previously cleared by Health Canada. We're very excited to resume this trial and evaluate the potential of Montelukas as a much needed treatment for Alzheimer's disease patients. And with that, I would now like to turn the call over to André for a review of our financial results. André?
You're reading a preview of the IGX Q3 2021 earnings call.
Free account.
