IntelGenx Reports Fourth Quarter and Full-Year 2016 Financial Results

SAINT LAURENT, QUEBEC--(Marketwired - March 28, 2017) - IntelGenx Technologies Corp. (TSX VENTURE:IGX)(OTCQX:IGXT) (the "Company" or "IntelGenx") today reported financial results for the fourth quarter and twelve-month periods ended December 31, 2016. All dollar amounts are expressed in U.S. currency and results are reported in accordance with United States generally accepted accounting principles except where noted otherwise.

2016 Fourth Quarter Financial Highlights:

• Revenues reached $1.9 million, an increase of 27% over the same period last year
• Adjusted EBITDA was $635,000, compared to $429,000 over Q4-2015
• Cash and cash equivalents and short-term investments totalled $4.5 million as at December 31, 2016

2016 Twelve-Month Financial Highlights:

• Revenue was $5.2 million, compared to $5.1 million over the same period last year
• Net comprehensive loss was $1.5 million, compared to net comprehensive income of $800,000 over the same period last year
• Adjusted EBITDA was negative $275,000, compared to positive $1.7 million in the same period last year

Recent Operational Highlights:

• Signed a binding term sheet with Eli Lilly for an exclusive license for tadalafil film products under erectile dysfunction (ED) dosing patent, United States Patent No. 6,943,166.
• Signed a definitive agreement with Chemo Group for a generic CNS tablet
• Entered into a co-development and commercialization agreement with Endo Ventures for a new VersaFilm™ product
• Signed an exclusive license agreement with Pharmatronic Co. for the commercialization of RIZAPORT^® in the Republic of Korea (South Korea)

"We are very satisfied with our performance in 2016, a year marked by significant clinical and commercial progress," said Dr. Horst G. Zerbe, President and CEO of IntelGenx. "With a stronger management team in place and a clear strategy to accelerate our growth, we were able to complete a record seven new partnership transactions in 2016, significantly advancing our product pipeline towards commercialization. We are now focussing on delivering on these contracts and bringing the products to the market as expeditiously as possible, thus further establishing the Company's leadership position in pharmaceutical oral film development and manufacturing."