Intellipharmaceutics International Inc. (IPCI)

[mopar44o]

Sorry 4 products. They only had one NDA for approval at FDA and it's got a path forward. Many drug companies get rejections and still get drugs approved. Most of the generics have been subject to the FDA backlog. We will likely see some more of those come up.

Historically the cash burn has been good. Recently we've seen an increase. Over the last er though plenty has happened. Podras trials look to have started, rexista hap has officially started, some of the pending generics have had additional studies done, the studies to get the approved ones in European markets have started. I mentioned from the tour last year they were expanding manufacturing capacity. So things are happening and they cost money.

To say they have a history of burning cash and not getting anything approved isn't accurate though. It's a growing biotech company. Again they haven't had flawless execution. Plenty could've been done differently. But hindsight is 20/20.