IGC Pharma Advances Caregiver Engagement as Phase 2 CALMA Trial Advances Final Enrollment Phase

Rhea-AI Summary

IGC Pharma (NYSE American: IGC) reported participation in the caregiver podcast Autumn Is Here to raise awareness of agitation in Alzheimer's and support patient engagement in its Phase 2 CALMA trial. The company said CALMA has reached approximately 80% enrollment and is advancing toward completion.

The episode featured IGC staff discussing recognition of agitation, differences from other behavioral symptoms, and the role of caregiver education in improving clinical-trial participation.

Positive

• CALMA ~80% enrolled in Phase 2
• Caregiver outreach via podcast to raise symptom awareness
• Public-facing discussion with clinical staff to support trial recruitment

Negative

• None.

News Market Reaction – IGC

-2.09%

-2.09% Session close to close

In the Apr 28 session, IGC declined 2.09%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement emphasizes caregiver outreach and education around agitation in Alzheimer’s diseas...

Analysis

This announcement emphasizes caregiver outreach and education around agitation in Alzheimer’s disease as the Phase 2 CALMA trial nears ≈80% enrollment. Recent history shows steady CALMA progress, site additions, and patent protection for IGC-AD1. At the same time, SEC filings highlight limited cash of $900,000 and added debt through 12% promissory notes. Investors may watch future CALMA data, financing steps, and use of the existing resale registration.

Key Figures

CALMA enrollment: ≈80% enrolled Interim cohort size: n=26 Cash balance: $900,000 +5 more

8 metrics

CALMA enrollment ≈80% enrolled Phase 2 CALMA trial status in recent updates and article

Interim cohort size n=26 Initial CALMA cohort with agitation and sleep signals in 10-KT

Cash balance $900,000 Cash and cash equivalents as of Dec 31, 2025 (10-KT)

Working capital deficit $366,000 Reported deficit as of Dec 31, 2025 (10-KT)

FirstFire note $346,910 Principal on 12% promissory note maturing Apr 10, 2027

VFG note $238,050 Principal on 12% promissory note maturing Mar 30, 2027

Interest rate 12% Interest on recent promissory notes disclosed in 8-K

Registered resale shares 978,235 shares Shares covered by amended resale registration statement (S-3/A)

Previous Clinical trial Reports

5 past events · Latest: Apr 22 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Apr 22	CALMA site addition	Positive	+7.7%	Added Kerwin Medical Center site as CALMA neared roughly 80% enrollment.
Apr 14	Enrollment milestone	Positive	+4.4%	Announced ~80% enrollment and entry into final recruitment phase for CALMA.
Apr 07	CALMA site expansion	Positive	+0.9%	Activated Tandem Clinical Research site with enrollment reported over 70% complete.
Feb 23	New trial site	Positive	+2.2%	Added Visionary Investigators Network as site with ~70% of enrollment completed.
Feb 17	Patent, trial update	Positive	+0.0%	Secured North American composition protection as CALMA approached ≈70% enrollment.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Clinical CALMA updates have generally seen positive price reactions, with one neutral-to-muted response despite constructive trial progress.

Recent Company History

Over recent months, IGC has repeatedly highlighted progress in its Phase 2 CALMA trial, moving from ≈70% to ≈80% enrollment while adding new clinical sites in Miami, Metairie, and Dallas. A Notice of Allowance secured composition protection for IGC-AD1 as enrollment advanced. These clinical-trial updates, all tagged under “clinical trial,” have produced same-day moves ranging from 0% to 7.66%, underscoring investor focus on CALMA milestones relative to today’s caregiver-engagement news.

Key Terms

phase 2, clinical trial, promissory notes, original issue discount, +4 more

8 terms

phase 2 medical

"its ongoing Phase 2 CALMA clinical trial, which has recently reached"

Phase 2 is the mid-stage clinical trial where a new drug or treatment is tested in a larger group of patients to see if it works and to keep checking safety after initial human testing. Think of it as a field test that proves whether a product actually delivers its promised benefit. Investors watch Phase 2 closely because its results strongly influence a medicine’s chances of reaching the market, the size of its potential sales, and the company’s valuation.

clinical trial medical

"support patient engagement in its ongoing Phase 2 CALMA clinical trial"

A clinical trial is a carefully controlled study in which a new medicine, medical device, or treatment is tested on people to see if it is safe and effective. For investors it matters because trial results determine whether a product can win regulatory approval and reach patients, much like a road test decides if a new car can be sold; positive or negative results can sharply change a company’s prospects and stock value.

promissory notes financial

"issuing promissory notes to FirstFire Global Opportunities Fund and Vanquish"

A promissory note is a written IOU in which a borrower promises to repay a specific amount to a lender, usually with stated interest and by a set date. Investors care because these notes are a formal debt claim—like holding a scheduled payment stream—so they affect a company’s borrowing costs, cash flow and credit risk; notes can be bought, sold or used as collateral, which influences liquidity and recoveries if things go wrong.

original issue discount financial

"principal of $346,910 (including original issue discount) and matures"

Original issue discount (OID) is the difference between a debt security’s face value and the lower price at which it is first sold, treated as additional interest that accrues over the life of the instrument. For investors it matters because OID raises the effective yield and changes taxable income and the holding’s cost basis over time — think of buying a $100 voucher for $90 and recognizing the $10 gain as earned interest as the voucher approaches maturity.

beneficial ownership limit regulatory

"subject to a 4.99% beneficial ownership limit and an overall 19.99%"

A beneficial ownership limit is a cap on how much of a company's stock one person or entity can effectively control, counting both shares they hold directly and those they control indirectly. It matters to investors because the limit shapes who can gain controlling influence, can force sales or extra disclosures if crossed, and affects takeover chances and market liquidity—like a rule that prevents any single neighbor from owning most of the houses on a block.

conversion cap regulatory

"subject to a 4.99% beneficial ownership limit and an overall 19.99% Conversion Cap"

A conversion cap is a limit written into a convertible security (like a note or SAFE) that fixes the maximum company valuation used when that investment converts into equity, so the investor receives shares as if the company were worth no more than that cap. It matters to investors because it protects early backers from being diluted if the company later raises money at a high valuation, effectively acting like a coupon that guarantees a better share price and a clearer sense of potential ownership and return.

restricted stock units financial

"converted 170,000 restricted stock units into 170,000 shares of common stock"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

transition report on form 10-kt regulatory

"filed a Transition Report on Form 10-KT for the nine-month fiscal"

A transition report on Form 10-KT is an SEC filing companies submit when they change their fiscal year, providing audited financial statements and management discussion for the shortened transition period between the old and new year-ends. Investors use it like a bridge report: it fills the gap so you can compare results across different reporting calendars, spot one-time adjustments or timing shifts that affect earnings, and judge whether the change reflects operational or accounting shifts that could influence valuation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Outreach initiative supports awareness of agitation and patient engagement as enrollment approaches completion

POTOMAC, MD / ACCESS Newswire / April 28, 2026 / IGC Pharma, Inc. (NYSE American:IGC) ("IGC" or the "Company"), a clinical-stage biotechnology company developing therapeutics for Alzheimer's disease, today announced its participation in the caregiver-focused podcast Autumn Is Here, as part of its broader effort to increase awareness of agitation associated with Alzheimer's disease and support patient engagement in its ongoing Phase 2 CALMA clinical trial, which has recently reached approximately 80% patient enrollment and is advancing toward completion.

The episode featured Margarita Venegas, Psychometric Training Manager, and Barbara Forero, Clinical Neuropsychologist & Recruitment Coordinator at IGC Pharma, in a discussion focused on recognizing agitation as a distinct and clinically significant symptom of Alzheimer's disease. The conversation was hosted by Francine Crawford, creator of Autumn Is Here, who brings a personal caregiving perspective.

Supporting Clinical Progress Through Awareness

As the CALMA trial advances toward its final phase of enrollment, increasing awareness of agitation remains an important component of both patient care and clinical trial participation. The Company believes that caregiver education can support earlier recognition of symptoms and improve engagement in clinical studies evaluating potential treatment options.

During the episode, participants discussed how agitation may present in patients, how it differs from other behavioral symptoms, and why it is often under-recognized despite its significant impact on patients and caregivers.

Connecting Research and the Caregiver Community

"Engaging with caregivers is an important part of advancing Alzheimer's research," said Ram Mukunda, Chief Executive Officer of IGC Pharma. "As CALMA progresses toward enrollment completion, outreach and education play a role in supporting awareness of agitation and the importance of continued research in this area."

The Company continues to prioritize outreach efforts that connect clinical research with patients, caregivers, and healthcare professionals as it advances the CALMA clinical trial toward completion.

The full podcast episode is available here: Link.

About IGC Pharma (dba IGC):

IGC Pharma (NYSE American:IGC) is a clinical-stage biotechnology company leveraging AI to develop innovative treatments for Alzheimer's and metabolic disorders. Our lead asset, IGC-AD1, is a therapy currently in a Phase 2 trial (CALMA) for agitation in Alzheimer's dementia. Our pipeline includes TGR-63, targeting amyloid plaques, and early-stage programs focused on neurodegeneration, tau proteins, and metabolic dysfunctions. We integrate AI to accelerate drug discovery, optimize clinical trials, and enhance patient targeting. With a complete patent portfolio and a commitment to innovation, IGC Pharma is advancing breakthrough therapies.

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially, including risks related to the Company's ability to complete enrollment in its Phase 2 CALMA trial within anticipated timeframes, demonstrate safety and efficacy, the timing of data readouts, regulatory approvals, and other factors discussed in the Company's filings with the U.S. Securities and Exchange Commission (SEC), including its most recent Annual Report on Form 10-KT. The Company undertakes no obligation to update these statements.

Contact Information:

Walter Frank / John Nesbett
IMS Investor Relations
igc@imsinvestorrelations.com
(203) 972-9200

SOURCE: IGC Pharma, Inc.

View the original press release on ACCESS Newswire

FAQ

How far along is IGC's Phase 2 CALMA trial (IGC) in enrollment?

CALMA is reported to be approximately 80% enrolled, approaching final enrollment. According to the company, this indicates the trial is advancing toward completion and continuing site-level recruitment and participant engagement activities.

What did IGC say about the purpose of the Autumn Is Here podcast appearance?

IGC said the podcast appearance aimed to increase awareness of agitation and support caregiver engagement. According to the company, the discussion focused on recognizing agitation, differentiating it from other symptoms, and encouraging participation in the CALMA trial.

What symptom and patient population does the CALMA trial (IGC) target?

The CALMA Phase 2 trial targets agitation in patients with Alzheimer's disease. According to the company, the trial evaluates potential therapeutics while outreach seeks to help caregivers recognize agitation and support study enrollment.

Where can investors find the full IGC podcast episode and trial updates?

The full podcast episode is available via the link provided by the company and through IGC investor channels. According to the company, the episode and ongoing trial updates are accessible to caregivers and investors online.