Intellipharmaceutics International Inc. (IPCI)

[grill4thrills]

Just to put the current valuation into perspective, ELTP's primary product candidate is a direct competitor to IPCI's, ELTP got some bad news and just got hammered on the market today, and is still valued with a $ 150 M market cap. IPCI, who will now presumably get to market before them with a superior product, is still only valued at $ 45 M. Comparison logic would say IPCI should be at least $ 4.50/share, once filing is accepted, but that's based on a simple comparison.

Another direct competitor would be PTIE. As most of us here know they have had many struggles with their product, which has led to partnerships falling apart as well. Even they are value at over $ 100 M market cap when they have to concede 9+ % to Durect plus split their earnings with whomever they partner with for commercialization and their product candidate is merely in the queue (where IPCI's will be for months after filing is accepted), so this comparison would suggest at least roughly $ 3/share for IPCI at that time. Neither ELTP/PTIE other pipeline products exceed IPCI's terms of potential value (rather IPCI's is much better), and IPCI's product has not had the issues of their competitors’ products meanwhile offering more from an ADF perspective, so this is probably a very conservative comparison to predict a range of $ 3 - $ 4.50 in the next few months as the filing is processed/accepted for review (not considering any other potential catalyst).

It appears like IPCI had worked a lot closer with the FDA as they have progressed with their product candidate, so they should be well versed in how to file this NDA successfully. If the market won’t price this accordingly in the meantime, I’ll be among those who will wait until final approval (perhaps 8 months away at best guess) where it certainly will be valued based on market valuation principles rather than speculation.