IntelGenx Technologies (IGXT) has released an update.
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IntelGenx Technologies Corp. has commenced restructuring under the Companies’ Creditors Arrangement Act (CCAA) due to a liquidity crisis, exacerbated by regulatory delays affecting revenue streams. The process, supervised by the Québec Superior Court and assisted by Ernst & Young as the appointed Monitor, allows IntelGenx to review strategic alternatives, potentially including the sale of business assets or recapitalization. The aim is to maximize returns and preserve the company’s advanced pharmaceutical film technologies and operations during the restructuring.
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