Intellipharmaceutics (IPCI) Reports In-Line Q3 Loss

October 14, 2016 6:09 AM EDT
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Intellipharmaceutics (NASDAQ: IPCI) reported Q3 EPS of ($0.07), in-line with the analyst estimate of ($0.07). Revenue for the quarter came in at $554.9 thousand versus the consensus estimate of $530 thousand.

Corporate Developments

  • In October 2016, the Company entered into a license and commercial supply agreement with Mallinckrodt LLC ("Mallinckrodt"), granting Mallinckrodt an exclusive license to market, sell and distribute in the U.S. the following extended release drug product candidates (the "licensed products") for which the Company has Abbreviated New Drug Applications (“ANDAs”) filed with the FDA:
    • Quetiapine fumarate extended-release tablets (generic Seroquel XR®) – ANDA Tentatively Approved by FDA
    • Desvenlafaxine extended-release tablets (generic Pristiq®) – ANDA Under FDA Review
    • Lamotrigine extended-release tablets (generic Lamictal® XR™) – ANDA Under FDA Review

For earnings history and earnings-related data on Intellipharmaceutics (IPCI) click here.

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