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Intellipharmaceutics Cautions Over Financial Future

Company Reports First-Quarter Loss And Looks For New CFO

 
• By Dave Wallace and Akriti Seth

Intellipharmaceutics has cautioned over its financial future after the firm’s Aximris XR abuse-deterrent oxycodone hydrochloride extended-release tablets were rejected by an FDA committee earlier this year. The company has reported a net loss of $1.7m for the first quarter of 2020, as it looks for a new chief financial officer.

Dollars - Capsules
Intellipharmaceutics has highlighted significant financial uncertainty over its business • Source: Shutterstock

Controlled-release and targeted-release oral solids specialist Intellipharmaceutics has offered a sober summary of its finances in the wake of a US Food and Drug Administration committee decision recommending that the agency not approve the firm’s Aximris XR (oxycodone hydrochloride) extended-release tablets, highlighting significant financial uncertainty over the future of its business.

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