Intellipharmaceutics International (IPCI) is having a very good moment.
IPCI is up 161% yesterday — and some 191% in the past week. It’s one of the small cap stocks that is making some big movements.
A number of analysts have upgraded the IPCI stock to a “buy.”
But why the sudden small cap stocks boom for IPCI?
The company reported that the FDA issued its final approval of IPCI’s dexmethylphenidate hydrochloride extended-release capsules — with commercial sales to begin immediately.
The pills are basically generic versions of a drug used in the treatment of attention deficit hyperactivity disorder.
Intellipharmaceutics has 180 days of exclusivity of generic sales from its launch date, granted because it is the first-filer for the drug-product in the 15 mg strength.
Its other various strength pills — in 5, 10, 20 and 40 mg — are also FDA approved.
The market cap for Intellipharmaceutics is $70.2 million. The IPCI stock has a 50-day moving average of $1.86 and a 200-day moving average of $1.88.
From Small Cap Network:
According to Source Healthcare Analytics, sales for the 12 months ended October 2013 of Focalin XR(R) 15 and 30 mg, respectively, in the U.S. were approximately $136 million and $69 million (TRx MBS Dollars, which represents projected new and refilled prescriptions representing a standardized dollar metric based on manufacturer’s published catalog or list prices to wholesalers, and does not represent actual transaction prices and does not include prompt pay or other discounts, rebates or reductions in price). The remaining 5, 10, 20, 25, 35 and 40 mg strengths represent sales of approximately $478 million.
Intellipharmaceutics International is a pharmaceutical development company specializing in the controlled and targeted once-a-day delivery of pharmaceutical products.