Quietly On The Move Since Monday's Disclosure

By M.E.Garza

Thursday, 10 February 2011 19:31

On Monday, we told readers that Intellipharmaceutics (Nasdaq: IPCI)- who we profiled in detail in January- may finally be ready to enter the commercialization phase. Shares of the company have been quietly on the move since.

Wording in the frim's latest press release suggests that anticipated FDA announcements and a new filing submission may be on deck. We also told readers that there has been quite a bit of chatter indicating that several companies have already approached IPCI with partnership offers (for the distribution of their super generic drug formulations).

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We knew that Intellipharmaceutics’ master drug formulator and CEO, Isa Odidi and his team have been busy filing controlled released versions- worth a reported $6 billion- with the FDA. Monday, however, was the first time we ever saw Glucophage XR mentioned in any public disclosure as a drug that Intellipharmaceutics has submitted to the FDA.

I find it interesting that the company has gone "quiet." Multiple attempts to contact the firm's investor relations rep to ask him if the wording was accurate and whether we had missed any previous public disclosures regarding the comment about Glucophage XR were not successful. During our dig expedition, we did- however- learn from industry sources that representatives from the company have been visiting manufacturing facilities. Yet another sign that gears are shifting.

Below are some technical notes from the stock's price movement over the past few days. While I point these out as a positive, I also want to remind our readers that it isn't all about price movement, it's about performance and making progress. Given how busy the team at IPCI seems to have become, the outlook is very bullish here. Particularly given what we know about the firm's latest high-profile hiring- an obvious move to bring in "commercialization expertise."

Getting to the commercialization level is what most of the biotechs we cover in this space dream about. It's happening here, folks. The writing is not only on the wall, it's screaming at you.

Disclosure: I am Long IPCI since the sub $3 level

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