Welcome to our dedicated page for IGC Pharma news (Ticker: IGC), a resource for investors and traders seeking the latest updates and insights on IGC Pharma stock.
IGC Pharma, Inc. develops therapeutics for Alzheimer's disease and metabolic disorders as a clinical-stage biotechnology company. News about IGC Pharma commonly centers on IGC-AD1, its cannabinoid-based lead asset in the CALMA Phase 2 trial for agitation in Alzheimer's dementia, along with pipeline programs such as TGR-63, IGC-1C and IGC-M3 targeting amyloid plaques, tau pathways, neuroinflammation and related neurodegeneration biology.
Company updates also cover the use of artificial intelligence in drug discovery and clinical-trial operations, including the Agentic Harmonization Assistant platform for biomedical data harmonization. Other recurring developments include clinical-site expansion, caregiver and patient-engagement initiatives, psilocybin research authorization in Colombia, patent activity and financial reporting.
India Globalization Capital (NYSE American: IGC) announced its second fiscal quarter 2023 financial results, highlighting significant progress in its investigational drugs for Alzheimer’s. IGC-AD1 is entering Phase 2 trials aimed at treating agitation in Alzheimer’s dementia, with a primary endpoint assessed over six weeks. The company's revenue surged to approximately $202,000, up from $56,000 a year earlier, largely due to increased sales of CBD products. SG&A expenses dropped to $1.9 million, while R&D expenses rose to $768,000, reflecting ongoing trials. The net loss decreased to $2.4 million or ($0.05) per share.
India Globalization Capital (IGC) announced that the USPTO has granted a second patent (#11,446,276) for treating Alzheimer’s disease with extreme low dose THC. The original application was initiated by the University of South Florida in 2015, and IGC has developed IGC-AD1 based on this research. Early testing indicates IGC-AD1 may alleviate key Alzheimer’s symptoms, prompting a Phase 2 protocol filing with the FDA for further efficacy testing. Currently, no pharmacological treatments for agitation in Alzheimer’s patients exist, presenting a significant market opportunity for IGC.
India Globalization Capital (IGC) held its Annual Meeting of Stockholders on September 9, 2022, where all proposals were approved. Key decisions included the election of Ram Mukunda and Congressman James Moran as Class C directors until 2025, and Claudia Grimaldi as a Class A director until 2023. Additionally, Manohar Chowdhry & Associates was ratified as the independent accounting firm for the 2023 fiscal year. The Board granted 3,000,000 shares of common stock to employees and advisors based on performance metrics.
India Globalization Capital (IGC) reported its financial results for Q1 2023 ended June 30, 2022. Revenue increased to approximately $212,000 from $77,000 in Q1 2022. The company has submitted a Phase 2 clinical trial protocol to the FDA for IGC-AD1 aimed at treating agitation in Alzheimer's patients. R&D expenses rose significantly to $1.4 million, a 214% increase due to the trial progress. However, a net loss of $2.8 million, or ($0.05) per share, was recorded, up from a net loss of $1.8 million or ($0.04) per share in the previous year.
India Globalization Capital (IGC) reported its financial results for Fiscal Year 2022, revealing revenues of approximately $397,000, down from $898,000 in Fiscal 2021. Despite a 48% gross margin improvement, driven by higher margin product sales, SG&A expenses surged 68% to $13.2 million due to one-time costs, increasing the net loss to about $15 million or $0.30 per share. The company successfully completed a Phase 1 trial for IGC-AD1 targeting Alzheimer’s symptoms and plans further studies on both IGC-AD1 and TGR-63, a promising Alzheimer's treatment.
India Globalization Capital (IGC) announced its subsidiary secured an Intellectual Property license for a potential Alzheimer's drug candidate. This follows nearly a decade of research at Jawaharlal Nehru Centre for Advanced Scientific Research, which identified the NMI molecule, TGR 63. This compound has shown promise in reducing beta amyloid plaques and cognitive decline in Alzheimer's models. IGC aims to develop TGR 63 alongside its ongoing human trials of IGC-AD1. With a projected 78 million dementia patients by 2030, the global societal cost of dementia is expected to exceed $2.8 trillion.
India Globalization Capital, Inc. (IGC) announced a new patent (#11,351,152) for a method to treat seizure disorders. This patent, issued by the USPTO, covers the use of cannabidiol (CBD) combined with other compounds to potentially reduce side effects from traditional anticonvulsants. The company aims to explore treatment pathways for both humans and pets, particularly dogs and cats, as approximately 50 million people globally suffer from epilepsy, with 3.8 million dogs at risk of seizures. IGC is also involved in cannabinoid therapy research for Alzheimer's.
India Globalization Capital has appointed Claudia Grimaldi as a non-independent Director effective March 23, 2022. With nearly 12 years at IGC, she brings extensive experience in SEC and NYSE compliance and is currently the Vice President and Chief Compliance Officer. Ms. Grimaldi aims to offer diverse perspectives and advance the company’s commitment to achieving ESG goals, particularly for the IGC-AD1 project targeting Alzheimer’s disease. IGC continues to focus on cannabinoid-based therapies and has recently completed a Phase 1 clinical trial.
India Globalization Capital reported Q3 results for the fiscal year 2022. The Company appointed James Moran to its Board of Directors, enhancing its expertise in healthcare. It completed a Phase 1 clinical trial for IGC-AD1, aimed at treating Alzheimer’s disease, showing promising results in reducing Neuropsychiatric Symptoms. The Life Sciences segment generated $134 thousand in revenue, while the Infrastructure segment brought in $8 thousand. The net loss was approximately $2.38 million, or ($0.05) per share. R&D expenses rose to $377 thousand, reflecting increased clinical trial activities.
India Globalization Capital, Inc. (IGC) has appointed former Congressman Jim Moran as an independent Director on its Board. With 24 years in Congress, Moran is known for his bipartisan leadership and focus on healthcare, environment, and defense. He will provide valuable insights as IGC advances its Phase 2/3 trials of the THC-based investigational drug for Alzheimer’s disease. Moran's experience in innovative research could strengthen IGC’s initiatives in cannabinoid-based therapies, aiming for FDA-approved clinical trials.