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Stock Update (NASDAQ:IPCI): Intellipharmaceutics Reports Positive Topline Data Results from a Series of Phase I Clinical Trials of its Abuse-Deterrent Rexista(TM) Oxycodone XR Tablets, and files an IND for Rexista(TM) Oxycodone XR


Intellipharmaceutics International Inc. (Nasdaq:IPCI) (TSX:I) ("Intellipharmaceutics" or the "Company"), a pharmaceutical company specializing in the research, development and manufacture of novel and generic controlled-release and targeted-release oral solid dosage drugs, today provided an update on the progress of the product development programs for both its Rexista™ Oxycodone Abuse Deterrent oxycodone hydrochloride extended release tablets and for its Regabatin™ XR once-daily, non-generic extended release version of pregabalin.

Rexista™ Oxycodone XR

Rexista™ Oxycodone XR is a non-generic extended release formulation intended for the management of moderate to severe pain when an around-the-clock analgesic is required. The formulation is intended to present a significant barrier to tampering when subjected to various forms of anticipated physical and chemical manipulation commonly used by abusers. It is also designed to prevent dose dumping when inadvertently co-administered with alcohol. In addition, when crushed or pulverized and hydrated, the proposed extended release formulation is designed to coagulate instantaneously and entrap the drug in a viscous hydrogel, which is intended to prevent syringing, injecting and snorting.

The Company recently submitted an Investigational New Drug Application ("IND") to the United States Food and Drug Administration ("FDA") for Rexista™ Oxycodone XR in anticipation of the commencement of Phase III clinical trials. Planning has begun for the Phase III trials that will examine the efficacy and safety of Rexista™ Oxycodone XR in individuals with chronic low back pain.

Intellipharmaceutics has recently conducted and analyzed the results of three definitive open label, blinded, randomized, crossover, Phase I pharmacokinetic clinical trials in which Rexista™ Oxycodone XR was compared to Oxycontin™ under single dose fasting, single dose steady-state fasting and single dose fed conditions in healthy volunteers. Intellipharmaceutics has received topline data results from all three studies. The first study, a single dose steady-state fasting study, showed that Rexista™ Oxycodone XR met the bioequivalence criteria (90 percent confidence interval of 80 to 125 percent) for all matrices, i.e., on the measure of maximum plasma concentration or Cmax, the ratio of Rexista™ Oxycodone XR to Oxycontin® was 94.95 percent (90 percent confidence interval of 81.29 to 110.89 percent) and on the measure of area under the curve steady state (AUCss) the ratio of Rexista™ Oxycodone XR to Oxycontin® was 100.54 percent (90 percent confidence interval of 89.97 to 112.34 percent). 

The second study, a single dose fasting study, showed that Rexista™ Oxycodone XR met the bioequivalence criteria (90 percent confidence interval of 80 to 125 percent) for all matrices, i.e., on the measure of maximum plasma concentration or Cmax, the ratio of Rexista™ Oxycodone XR to Oxycontin® was 92.69 percent (90 percent confidence interval of 80.26 to 107.04 percent), on the measure of area under the curve time (AUCt) the ratio of Rexista™ Oxycodone XR to Oxycontin® was 100.53 percent (90 percent confidence interval of 95.13 to 106.53 percent) while on the measure of area under the curve infinity (AUCinf) the ratio of Rexista™ Oxycodone XR to Oxycontin® was 114.87 percent (90 percent confidence interval of 108.21 to 121.93 percent).

The third study, a single dose fed study, showed that Rexista™ Oxycodone XR met the bioequivalence criteria (90 percent confidence interval of 80 to 125 percent) for all matrices, i.e., on the measure of maximum plasma concentration or Cmax, the ratio of Rexista™ Oxycodone XR to Oxycontin® was 91.66 percent (90 percent confidence interval of 80.21 to 104.75 percent), on the measure of area under the curve time (AUCt) the ratio of Rexista™ Oxycodone XR to Oxycontin® was 103.21 percent (90 percent confidence interval of 94.15 to 113.15 percent) while on the measure of area under the curve infinity (AUCinf) the ratio of Rexista™ Oxycodone XR to Oxycontin® was 107.39 percent (90 percent confidence interval of 98.62 to 107.39 percent).

Regabatin™ XR

The Company also reported that the FDA has accepted a Pre-Investigational New Drug (Pre-IND) meeting request for its once-a-day Regabatin™ XR non-generic controlled release version of pregabalin under the new drug application ("NDA") 505(b)(2) regulatory pathway, with a view to possible commercialization in the United States at some time following the December 30, 2018 expiry of the patent covering the pregabalin molecule. Regabatin™ XR is based on the Company's controlled release drug delivery technology platform which utilizes the symptomatology and chronobiology of fibromylagia in a formulation intended to provide a higher exposure of pregabalin during the first 12 hours of dosing.

Pregabalin is indicated for the management of neuropathic pain associated with diabetic peripheral neuropathy, postherpetic neuralgia, spinal cord injury and fibromyalgia. A once-a-day controlled release version of pregabalin should reduce the number of doses patients currently take, potentially improving patient compliance, and thereby potentially improving clinical outcomes. This Pre-IND request with the FDA is focused on the Company's proposed Phase III clinical program.

There can be no assurance that additional clinical trials will meet our expectations, that we will have sufficient capital to conduct such trials, that we will be successful in submitting any NDA with the FDA, that the FDA will approve these product candidates for sale in the U.S. market, or that they will ever be successfully commercialized.

"We are excited with the positive topline data results of the Phase I studies utilizing formulations and dosages of our Rexista Oxycodone XR product candidate, and we look forward to the FDA's guidance on our IND filing on  Rexista™ Oxycodone XR, and on our Pre-IND submission for Regabatin™," stated Dr. Isa Odidi, CEO and co-founder of Intellipharmaceutics. "We believe that our abuse deterrent technology has the potential to positively differentiate Rexista™ from other abuse deterrent technologies of which we are aware, and that it represents an important step towards helping patients manage their pain safely. For both Rexista™ and Regabatin™, we plan to move forward, subject to FDA guidance, into Phase III trials. We also plan to explore potential strategic business development relationships for these novel product candidates."  (Original Source)

Shares of Intellipharmaceutics International closed last Friday at $2.55 . IPCI has a 1-year high of $4.71 and a 1-year low of $1.94. The stock's 50-day moving average is $2.53 and it's 200-day moving average is $2.63.

On the ratings front, Intellipharmaceutics International (NASDAQ: IPCI) has been the subject of a number of recent research reports. In a report issued on February 25, Brean Murray Carret analyst Jonathan Aschoff reiterated a Buy rating on IPCI, with a price target of $8, which represents a potential upside of 213.7% from where the stock is currently trading. Separately, on February 2, Maxim Group's Jason Kolbert maintained a Buy rating on the stock and has a price target of $7.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jonathan Aschoff and Jason Kolbert have a total average return of 11.7% and 8.3% respectively. Aschoff has a success rate of 54.1% and is ranked #250 out of 3558 analysts, while Kolbert has a success rate of 45.0% and is ranked #413.

IntelliPharmaCeutics International Inc is a pharmaceutical company specializing in the research, development and manufacture of novel and generic controlled-release and targeted-release oral solid dosage drugs.

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