IGC Pharma, Inc. - IGC STOCK NEWS

India Globalization Capital (NYSE American: IGC) announced that CEO Ram Mukunda will present at the RHK Disruptive Growth Conference in New York City on December 5 at 11:20 am ET. One-on-one meetings are scheduled for December 5 and 6. IGC focuses on developing cannabinoid-based formulations for treating diseases, including Alzheimer's and Parkinson's, with its leading candidate IGC-AD1 recently entering Phase 2 clinical trials. The company also offers CBD-based consumer products like Holief and Sunday Seltzer, catering to various health needs.

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.