IGXT - IntelGenx Provides RIZAFILM® U.S. Commercialization Update | Benzinga
SAINT LAURENT, Quebec, Sept. 21, 2023 (GLOBE NEWSWIRE) -- IntelGenx Corp. (TSX:IGX)(OTCQB:IGXT) (the "Company" or "IntelGenx") today announced that it has received the first purchase order ("PO") for RIZAFILM®1 from its commercial partner in the United States, Gensco Pharma ("Gensco®").
The PO triggers an upfront order deposit payment. A pre-specified milestone payment to IntelGenx from Gensco® is also payable upon transfer of NDA. Both payments will be reflected in the Company's Q3-2023 financial results. IntelGenx expects to ship the ordered RIZAFILM® product to Gensco® in Q1-2024 for immediate launch.
"We have been impressed with the progress Gensco® has made, and remain convinced that it is the right partner to help us bring this innovative migraine therapeutic to U.S. patients seeking convenient administration and quick pain relief," commented Dwight Gorham, IntelGenx's CEO. "We are also pleased that our balance sheet will be strengthened in the current quarter by the deposit and milestone payments triggered by Gensco®'s PO for RIZAFILM®."
Gensco®'s Chairman and CEO, Paul Zimmerman, MD, commented, "Our team has been working closely with its talented colleagues at IntelGenx to lay the groundwork for what we believe will be a very successful commercial launch of RIZAFILM®, the first oral thin film approved for the treatment of ...