IntelGenx Reports Fourth Quarter and Full-Year 2016 Financial Results - Seite 2

Financial Results:

Total revenues for the three-month period ended December 31, 2016 amounted to $1.9 million, representing an increase of $400,000, or 27%, compared to $1.5 million for the three-month period ended December 31, 2015. Total revenues for the twelve-month period ended December 31, 2016 amounted to $5.2 million, representing an increase of $100,000, or 2%, compared to $5.1 million for the twelve-month period ended December 31, 2015. The increase for the three-month period ended December 31, 2016 compared to the last year's corresponding period is mainly attributable to upfront payments received in Q4 2016. The increase for both the three-month periods ended December 31, 2016 compared to the previous year's corresponding periods was mainly attributable to upfront payments received throughout 2016. The mix of revenue components in 2016 continued to shift from royalties and milestones to deferred revenues from the monetization of Forfivo and upfront payments from multiple agreements signed in the period.

Operating costs and expenses were $6.2 million for the full year 2016, versus $3.71 million for the corresponding 12-month period of 2015.

For the twelve-month period of 2016, the Company had an operating loss of $981,000, compared to operating income of $1.4 million for the comparable period of 2015.

Net comprehensive loss was $1.5 million, or $0.02 on a basic and diluted per share basis, for the twelve-month period of 2016, compared to net comprehensive income of $800,000, or $0.01 on a basic and diluted per share basis, for the comparable period of 2015.

As at December 31, 2016, the Company's cash, cash equivalents and short-term investments totalled $4.5 million, compared with $2.9 million as at December 31, 2015.

Annual Filings:

The Company's annual report on Form 10-K and financial statements for the year ended December 31, 2016 as well as the 2017 Proxy Statement, will be filed with the United States Securities and Exchange Commission and the Canadian Securities regulatory authorities today, Tuesday March 28, 2017 at 4:00 p.m. EDT.

Conference Call Details:

IntelGenx will host a conference call to discuss these 2016 fourth quarter and full year financial results today, Tuesday, March 28, 2017, at 4:30 p.m. EDT. The dial-in number for the conference call is [phone] (Canada and United States) or [phone] (International), conference ID 51039225. The call will be also be webcast live and archived for twelve months at www.intelgenx.com.