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Intellipharmaceutics International Inc. (OTCQB:IPCIF) reported a net loss of $924,566 for Q1 2021, a decrease from $1,747,373 in Q1 2020. Revenues were $Nil compared to $377,554 last year. A significant reduction in R&D expenses of $400,360 was noted, alongside SG&A expenses decreasing by $351,185. Cash reserves stood at $202,669 as of February 28, 2021. The company has ongoing dependencies on future funding and regulatory approvals, particularly related to their NDA for Aximris XR™. Potential funding sources include equity, debt financing, and royalties from partner Tris Pharma.
Intellipharmaceutics International Inc. (OTCQB:IPCIF) reported a net loss of $3,390,965 or $0.14 per share for the fiscal year ending November 30, 2020, a decrease from a loss of $8,084,646 or $0.37 per share in 2019. Total revenues fell to $1,401,517, mainly due to reduced sales of generic Focalin XR and competitive pricing pressures. Reduced administrative and R&D expenses contributed to the smaller net loss. The company had cash reserves of $202,046 at year-end, up from $64,622 in 2019. Future operations depend on FDA approvals and successful commercialization of products.