TORONTO, ON / ACCESSWIRE / October 16, 2023 / Intellipharmaceutics International Inc. (OTCQB:IPCIF)(TSX:IPCI) ('Intellipharmaceutics' or the 'Company'), a pharmaceutical company specializing in the research
TORONTO, ON / ACCESSWIRE / October 16, 2023 / Intellipharmaceutics International Inc. , a pharmaceutical company specializing in the research, development and manufacture of novel and generic controlled-release and targeted-release oral solid dosage drugs, today reported the results of operations for the three and nine months ended August 31, 2023. All dollar amounts referenced herein are in United States dollars unless otherwise noted.
Expenditures for R&D were $748,216 for the three months ended August 31, 2023 in comparison to $621,591 the three months ended August 31, 2022. The increase in the R&D expenses during the three months ended August 31, 2023 are attributed to the increase in on going R&D expenses. As of August 31, 2023, our cash balance was $400,102. We currently expect to meet our short-term cash requirements from potential revenues for approved generic products or other collaborations, other available financing and by cost savings resulting from reduced R&D activities and staffing levels.
Intellipharmaceutics International Inc. is a pharmaceutical company specializing in the research, development and manufacture of novel and generic controlled-release and targeted-release oral solid dosage drugs. The Company's patented Hypermatrix technology is a multidimensional controlled-release drug delivery platform that can be applied to a wide range of existing and new pharmaceuticals.
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