IGI Update

by Bald Man on December 19th, 2006

A few news bullets on IGI, the pharmaceutical company that, among other things, is working on a topical treatment for chemotherapy-induced alopecia…

On 7 December, the company announced it had received $250K, the initial payment on a $1 million licensing arrangement with DermWorx. In addition, IGI entered into a one year $1 million line of credit with PharmaChem Laboratories. (Sounds like IGI is gearing up for something… or perhaps struggling to make ends meet.) Finally, IGI announced that Rajiv Mathur was resigning from the Board.
On 12 December, Rajiv revealed that his fingers had been crossed when making his previous declaration. He will rejoin the Board immediately.
Finally, on 14 December, IGI held an investor conference call, where among the items discussed, the company stated its expectation for a profitable fourth quarter and continuing success into 2007.

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