IntelGenx Technologies Corp. (IGXT) Q2 2023 Earnings Call Transcript

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Unidentified Analyst: It’s not Aquestive Therapeutics?

Andre Godin: No. No. But I mean the — yeah. Aquestive is based in the U.S., but a commercial partner that we signed up is also based in the U.S.

Unidentified Analyst: Okay. Thank you, Andre.

Dr. David Kideckel: So, Andre, just to clarify, the commercial partner that we’ve signed up through Aquestive, it’s a NASDAQ-listed company, but for sales to commercialize, they have rights for the U.K. That’s what the point was.

Andre Godin: Yeah.

Dr. David Kideckel: Thank you.

Andre Godin: Within U.K. Yeah.

Dwight Gorham: But again, to reiterate David’s point, this is a medium to longer term project. It’s in the two-year to three-year horizon that the commercialization would take place.

Unidentified Analyst: But it just seems like it’s been out there forever.

Dwight Gorham: Yeah. I understand that.

Operator: Okay. Thank you so much. Your next question is coming from Steve Gee of Wedbush. Steve, your line is live.

Steve Gee: Hello, fellas. How are you? So I’m in a public offering three times with the now out of business Phantom Financials. Are you guys willing to raise money again to another company?

Andre Godin: Yeah. As I mentioned in my intro, we’re working on something actually right now as we speak and we’re expecting to announce something shortly. So there’s no issue in terms of cash runway for the company.

Steve Gee: And is this money going to research, is this money going to salaries and bonuses for you guys and wives and girlfriends and anybody else talks about you hiring that company. We first, don’t think it’s fair that you guys are getting bonuses and I’ve been in the stock for six years and added three public offerings that I’m in to two of them, I lost my warrants now. because you guys have taken so long trying to manufacture stuff from marijuana scripts, the cancer scripts, the headache medicine credoships. You guys are smokers again and I hope everybody is listening to this. It’s the same old, same old stuff. The only announcement we get is up, this guy is retiring and we are hiring somebody new, he comes from 30 years of experience from so and so company and it’s still the same, six years everybody still sitting on the stock.

Dwight Gorham: No. But…

Steve Gee: I mean, everything thing is quarter, year, next year. I never hear a minute, days, weeks or…

Dwight Gorham: By the way.

Steve Gee: I mean — go ahead. I’m listening.

Dwight Gorham: Sir, by the way, we haven’t had bonus in a couple of years and we have reduced our salary right now. So I don’t know what you’re…

Steve Gee: Why don’t you take that then because, I don’t see none of that? I don’t think that anybody sees on that.

Dwight Gorham: Okay.

Steve Gee: I mean what do you think is going to happen to the stock price…

Dwight Gorham: We require…

Steve Gee: … that’s the asset base after the call with the Smoke & Mirrors thing. Where is this going to happen? I think it’s going to drop from $0.14 down into single digits. I don’t seem optimistic, just tickets, just ticket, oh, don’t hang off [ph]. No answer on that, guys don’t see optimistic about this stuff.

Dwight Gorham: I didn’t get the question…

Dr. Horst Zerbe: Yeah. I’m not…

Steve Gee: Or is that…

Dr. Horst Zerbe: … understood exactly what the question was.

Steve Gee: Well, the question is, I’ve been sitting on the stock for six years with three public offerings that I’m in, two of them I lost the warrants and now I’m sitting on. I’m all over the place, $0.40 to $0.80. We’re down to $0.14. I’m asking, what do you think since you guys work for the company and you have all the big titles, do you think this stock is going to move any time soon or are we going to sit on it for another six years. I’m just curious, because I think after today’s Smoke & Mirrors conference call that you guys just pulled again, it’s going to drop down from the teen. Nothing positive came out of this. What I heard from on you guys at all. Everything is next quarter, next…

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