IntelliPharmaCeutics International Inc. (NASDAQ: IPCI) Jumps Over 50% in Last Three Trading Sessions

(January 12, 2011) Shares of IntelliPharmaCeutics International Inc. (NASDAQ: IPCI), a Toronto, Canada-based biotechnology company, soared in trading on Wednesday, finishing the day 12.75% higher at $4.51.

In the last three trading sessions, the IntelliPharmaCeutics International Inc. stock has gained an impressive 54.45%. In the last five trading sessions, the stock is up 57.69%. The stock has climbed 70.83% in the last one month.

For the third quarter of 2010, IntelliPharmaCeutics reported a net loss of $2.1 million, or $0.19 per common share, compared with a loss of $0.2 million, or $0.02 per share reported for the same period in 2009.

During the third quarter of 2010, the company increased its research and development expenditures due to stronger financial position. The company said that stronger financial position is allowing it to follow is strategy of advancing its products from the formulation stage through product development, regulatory approval and manufacturing before out-licensing and sales rights to established organizations.

Last month, IntelliPharmaCeutics announced that it filed an Abbreviated New Drug Application (ANDA) with the FDA for approval to sell a generic of the 30 mg strength of Focalin XR®.

• The IntelliPharmaCeutics stock has a 52-week range of $1.45-$5.05.
• The stock trades on a daily average volume of 18,433.
• The stock is currently trading above its 50-day and 200-day moving averages, which is a2 bullish signal.
• The stock’s MACD is above the signal line and the zero-line, which are strong bullish signals.

Summary

InterlliPharmaCeutics International Inc. is in a strong financial position, which allows the company to focus on its strategy.