IntelGenx Technologies Corp. (OTC:IGXT) has been on the negative price change since last week. The fall started on 
Thursday, when the stock lost 5.58% of its price on traded volume of over 1 million shares. Then, on Friday the loss continued and IGXT closed the day at $0.91 per share. Now, the question is what will happen this week?
Historical data shows that IntelGenx has not released any news since June 22, when the company reported that it has closed a private placement and encouraged investors. As a result of the positive announcement, the stock price increased, though it was back down shortly.
IntelGenx is a drug delivery company focused on the development of oral controlled-release products as well as novel rapidly disintegrating delivery systems. The only information filed by the company with the SEC appeared last week, when IGXT reported the sale by the selling security holders of up to 7,569,507 shares of its common stock, par value $.00001 per share, and 2,748,165 common stock purchase warrants of the company.[BANNER]
Being released, the news supported the stock price for a couple of days, however, after that it started falling down again. Meanwhile, as already mentioned on hotsocked.com, the financials of IGXT remain contradictory:
* $0.57 million in cash as compared to twice as much in Q4 of 2010;
* working capital surplus of $0.88 million vs. $1.32 million for the previous quarter;
* $96 thousand in revenue in comparison with $182 thousand accumulated in Q4 of 2010;
* net loss of $0.6 million as opposed to $0.77 million accrued by Dec. 31, 2010.
Apparently, the future improvement of IntelGenx depends mostly on its drug delivery products, not considering the risk factors mentioned in the company’s reports.
