IntelliPharmaCeutics International Inc. Presents at 12th Annual Needham Healthcare Conference, May-01-2013 03:40 PM. Venue: The Westin Grand Central Hotel, 212 East 42nd Street, New York, New York, United States. Speakers: Shameze Rampertab, Chief Financial Officer and Vice President of Finance.

IntelliPharmaCeutics International Inc. reported unaudited consolidated earnings results for the first quarter ended February 28, 2013. For the quarter, the company recorded a loss of $1.3 million or $0.07 per basic and diluted common share compared with a loss of $1.9 million or $0.12 per common basic and diluted share for the three months ended February 29, 2012. The company's decreased net loss in the first quarter ended February 28, 2013, can be attributed to lower overall expenses in research and development and selling, general and administrative expenses, and a larger fair value adjustment of derivative liabilities compared to the prior period. Loss from operations was $2.3 million compared with $3.1 million for the three months ended February 29, 2012. Net cash flows used in operating activities decreased to $1.4 million as compared to net cash flows used in operating activities for the three months ended February 29, 2012 of $2.2 million. This decrease is a result of the implementation of active cash management resulting in accounts payable and accrued liabilities increasing during the three months ended February 28, 2013. Purchase of property and equipment was $37,064 against $52,755 a year ago.

Intellipharmaceutics International Inc. announced an update on its generic versions of the marketed drugs Keppra XR® and Pristiq®. In September of 2012, the company announced that it had filed with the U.S. Food and Drug Administration two Abbreviated New Drug Applications, for generic versions of the marketed drugs Keppra XR®, an antiepileptic product for the treatment of partial onset seizures in patients with epilepsy and Pristiq®, a product for the treatment of depression. The company announced that the FDA has accepted for filing the company's ANDA for generic Keppra XR®. Based on the FDA's preliminary review and comments on the company's ANDA for generic Pristiq®, the company plans to repeat one of three bioequivalence studies for the product candidate. The company will amend its existing application for generic Pristiq® to include the new study upon its successful completion. 7 ANDAs in total have now been accepted by the FDA for review. The company is proceeding with development of all its product candidates, including several other ANDA and New Drug Application product candidates that have been previously disclosed and described by the company.