New Risk • Jun 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (US$4.2m net loss in 2 years). Shareholders have been diluted in the past year (24% increase in shares outstanding). Revenue is less than US$5m (US$1.1m revenue). Market cap is less than US$100m (US$29.1m market cap). Recent Insider Transactions Derivative • Apr 07
Founder exercised options to buy US$191k worth of stock. On the 1st of April, Ram Mukunda exercised options to buy 706k shares at a strike price of around US$0.12, costing a total of US$84k. This transaction amounted to 15% of their direct individual holding at the time of the trade. Since June 2025, Ram's direct individual holding has increased from 4.09m shares to 4.85m. Company insiders have collectively bought US$120k more than they sold, via options and on-market transactions, in the last 12 months. Ankündigung • Jan 05
IGC Pharma, Inc. has filed a Follow-on Equity Offering in the amount of $0.233999 million. IGC Pharma, Inc. has filed a Follow-on Equity Offering in the amount of $0.233999 million.
Security Name: Cmmon Stock
Security Type: Common Stock
Securities Offered: 779,997
Price\Range: $0.3
Transaction Features: Registered Direct Offering Major Estimate Revision • Dec 10
Consensus revenue estimates decrease by 35% The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from US$1.40m to US$910.0k. EPS estimate unchanged from -US$0.08 per share at last update. Pharmaceuticals industry in the US expected to see average net income growth of 2.8% next year. Consensus price target up from US$3.75 to US$3.88. Share price rose 16% to US$0.35 over the past week. Reported Earnings • Nov 17
Second quarter 2026 earnings: EPS in line with expectations, revenues disappoint Second quarter 2026 results: US$0.02 loss per share. Revenue: US$191.0k (down 54% from 2Q 2025). Net loss: US$1.82m (loss widened 6.1% from 2Q 2025). Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 9.3% growth forecast for the Pharmaceuticals industry in the US. Price Target Changed • Sep 08
Price target increased by 16% to US$4.50 Up from US$3.88, the current price target is provided by 1 analyst. New target price is 984% above last closing price of US$0.42. Stock is up 12% over the past year. The company is forecast to post a net loss per share of US$0.08 next year compared to a net loss per share of US$0.093 last year. New Risk • Sep 08
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 12% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$4.9m free cash flow). Earnings are forecast to decline by an average of 12% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable next year (US$7.1m net loss next year). Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Revenue is less than US$5m (US$1.3m revenue). Market cap is less than US$100m (US$39.4m market cap). New Risk • Sep 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$4.9m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$6.2m net loss next year). Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Revenue is less than US$5m (US$1.3m revenue). Market cap is less than US$100m (US$39.8m market cap). Major Estimate Revision • Aug 27
Consensus estimates of losses per share improve by 27% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from US$1.45m to US$1.50m. EPS estimate increased from -US$0.11 per share to -US$0.08 per share. Pharmaceuticals industry in the US expected to see average net income decline 0.3% next year. Consensus price target up from US$3.88 to US$4.00. Share price rose 27% to US$0.46 over the past week. Reported Earnings • Aug 15
First quarter 2026 earnings: EPS exceeds analyst expectations First quarter 2026 results: US$0.019 loss per share (improved from US$0.033 loss in 1Q 2025). Revenue: US$328.0k (up 21% from 1Q 2025). Net loss: US$1.60m (loss narrowed 33% from 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 33%. Revenue is forecast to grow 7.3% p.a. on average during the next 2 years, compared to a 8.1% growth forecast for the Pharmaceuticals industry in the US. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Ankündigung • Aug 06
IGC Pharma, Inc., Annual General Meeting, Oct 10, 2025 IGC Pharma, Inc., Annual General Meeting, Oct 10, 2025. Location: 10224 falls road, potomac, maryland, 20854, United States Reported Earnings • Jun 30
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: US$0.093 loss per share (improved from US$0.22 loss in FY 2024). Revenue: US$1.27m (down 5.5% from FY 2024). Net loss: US$7.12m (loss narrowed 45% from FY 2024). Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 10%. Revenue is forecast to grow 8.8% p.a. on average during the next 2 years, compared to a 8.5% growth forecast for the Pharmaceuticals industry in the US. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Ankündigung • Jun 27
IGC Pharma, Inc. to Report Fiscal Year 2025 Results on Jun 30, 2025 IGC Pharma, Inc. announced that they will report fiscal year 2025 results at 9:30 AM, US Eastern Standard Time on Jun 30, 2025 Board Change • May 01
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 2 experienced directors. 2 highly experienced directors. President, CEO & Director Ram Mukunda is the most experienced director on the board, commencing their role in 2005. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. New Risk • Feb 16
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 8.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$5.2m free cash flow). Earnings are forecast to decline by an average of 8.9% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable next year (US$9.2m net loss next year). Shareholders have been diluted in the past year (22% increase in shares outstanding). Revenue is less than US$5m (US$1.2m revenue). Market cap is less than US$100m (US$24.1m market cap). Reported Earnings • Feb 16
Third quarter 2025 earnings released: US$0.024 loss per share (vs US$0.088 loss in 3Q 2024) Third quarter 2025 results: US$0.024 loss per share (improved from US$0.088 loss in 3Q 2024). Revenue: US$257.0k (up 26% from 3Q 2024). Net loss: US$1.83m (loss narrowed 67% from 3Q 2024). Revenue is forecast to grow 5.7% p.a. on average during the next 2 years, compared to a 8.6% growth forecast for the Pharmaceuticals industry in the US. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Price Target Changed • Jan 17
Price target increased by 10% to US$4.00 Up from US$3.63, the current price target is provided by 1 analyst. New target price is 1,077% above last closing price of US$0.34. Stock is up 21% over the past year. The company is forecast to post a net loss per share of US$0.11 next year compared to a net loss per share of US$0.22 last year. Major Estimate Revision • Dec 05
Consensus revenue estimates increase by 11% The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from US$1.06m to US$1.18m. EPS estimate unchanged from -US$0.11 at last update. Pharmaceuticals industry in the US expected to see average net income growth of 3.7% next year. Consensus price target up from US$3.63 to US$3.75. Share price fell 3.5% to US$0.36 over the past week. New Risk • Dec 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$5.5m free cash flow). Earnings are forecast to decline by an average of 0.9% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$12m net loss in 2 years). Shareholders have been diluted in the past year (22% increase in shares outstanding). Revenue is less than US$5m (US$1.2m revenue). Market cap is less than US$100m (US$27.8m market cap). Ankündigung • Dec 03
IGC Pharma, Inc. Advances IGC-AD1 as a Potential Alzheimer's Therapy Addressing Cognitive Impairment and Underlying Disease Pathology IGC Pharma, Inc. announced an expansion of its clinical research program for IGC-AD1, an investigational treatment for Alzheimer's disease. Building on Phase 2 interim results demonstrating reductions in agitation and cognitive improvement, the Company is initiating new trials to evaluate IGC-AD1's potential as a disease-modifying therapy. The expanded research will explore how IGC-AD1's dual-action mechanism-combining anti-neuroinflammatory properties with amyloid- and tau-targeting effects- may slow the progression of Alzheimer's disease. These trials will evaluate critical outcomes, including cognitive function and biological markers associated with Alzheimer's, such as amyloid and tau levels, at multiple time points. Building on previously announced preclinical data showing IGC-AD1's impact on amyloid plaques and spatial memory, these investigations aim to explore its potential to influence key pathological features of Alzheimer's disease. The ongoing 146-patient Phase 2 trial continues to enroll participants across the USA and Canada. With over 1,000 doses administered and no serious adverse events reported, the trial is on track to deliver comprehensive safety and efficacy data in 2025. Ankündigung • Nov 26
IGC Pharma Announces Additional Phase 2 Interim Results Highlighting Cognitive Benefits of IGC-AD1 for Alzheimer's Treatment IGC Pharma, Inc. announced additional interim data from its ongoing Phase 2 clinical trial evaluating IGC-AD1. The trial focuses on agitation in Alzheimer's as its primary outcome, with cognition assessed as an exploratory outcome. Interim data analysis reveals cognitive improvements in the active treatment group versus the placebo group, marking a meaningful step toward developing a therapy that may influence underlying disease progression. These findings align with previously announced preclinical data, which showed a reduction in amyloid plaque aggregation by approximately 20% and improved spatial memory by about 50% in Alzheimer's cell lines and mouse models, respectively. Cognitive decline in Alzheimer's disease reflects the deterioration of memory, attention, language, and reasoning due to underlying pathological changes, such as amyloid plaques and tau tangles. Interim results from the trial demonstrated that the active treatment group receiving IGC-AD1 twice daily for six weeks showed an average improvement of about 8% on the Mini-Mental State Examination ("MMSE"), a validated clinical tool for assessing cognitive function. By contrast, the placebo group showed no improvement over the same period. These results and the preclinical data provide a robust foundation for future trials focusing on cognition as the primary endpoint and exploring IGC-AD1's disease-modifying potential. Agitation, a debilitating symptom affecting up to 76% of Alzheimer's patients, accelerates disease progression, increases caregiver burden, and drives hospitalization rates. As previously disclosed, interim results showed that IGC-AD1 significantly reduced agitation compared to placebo, with improvements observed as early as two weeks. Unlike the existing therapy, which often takes about 6–10 weeks to show results and carries a black box warning, IGC-AD1 offers rapid symptom relief with a favorable safety profile, making it a highly differentiated potential medication for managing agitation in Alzheimer's. Reported Earnings • Nov 14
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: US$0.023 loss per share (improved from US$0.045 loss in 2Q 2024). Revenue: US$412.0k (up 42% from 2Q 2024). Net loss: US$1.72m (loss narrowed 30% from 2Q 2024). Revenue exceeded analyst estimates by 42%. Earnings per share (EPS) also surpassed analyst estimates by 33%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Pharmaceuticals industry in the US. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Ankündigung • Oct 17
IGC Pharma, Inc. Announces Patient Enrollment at Toronto's Baycrest in Phase 2 Trial Investigating IGC-AD1 IGC Pharma, Inc. announced enrollment of patients at the Baycrest Academy for Research and Education in Toronto, Ontario, Canada, as part of the Company's ongoing Phase 2 trial investigating IGC-AD1 as a treatment for agitation in Alzheimer's dementia. Agitation affects between 40-80% of Alzheimer's patients and is a major driver of long-term hospitalization, increased mortality, and higher use of medication. IGC-AD1 is a partial CB1 receptor agonist with anti-neuroinflammatory properties and acts as an inflammasome inhibitor, addressing key pathways involved in the neuroinflammation, oxidative stress, and neurotransmitter effects that are implicated with agitation in Alzheimer's disease pathology. Baycrest is a global leader in geriatric residential living, healthcare, research, innovation and education, with a special focus on brain health and aging. The research site is in the North York district of Toronto, Ontario, Canada. IGC Pharma have 12 U.S. trial sites under contract and is on target to enroll additional sites in Canada to increase population diversity. The trial will enroll 164 patients with one half, the treated group, receiving IGC-AD1, and the other half, the control group, receiving a placebo. Recent Insider Transactions • Sep 29
Independent Director recently bought US$200k worth of stock On the 25th of September, James Moran bought around 588k shares on-market at roughly US$0.34 per share. This transaction increased James' direct individual holding by 2x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Ankündigung • Sep 05
IGC Pharma, Inc. Advances IGC-AD1 Toward Clinical Trials as a Potential Anti-Amyloid Plaque Treatment for Alzheimer's Disease IGC Pharma, Inc. announced that the Company is advancing its proprietary formulation, IGC-AD1, toward clinical trials as a potential anti-amyloid disease-modifying treatment for Alzheimer's disease. Following the FDA's 2023 approval of two anti-amyloid drugs, Donanemab (Eli Lilly) and Lecanemab (Eisai and Biogen), IGC Pharma is poised to make a significant contribution to this critical field with IGC-AD1. The recognition of amyloid-targeted therapies in slowing Alzheimer's progression and improving cognitive function underscores the growing demand for innovative treatments. While the recent drug approvals have been a significant milestone in enhancing disease treatment, there is still an increasing demand for safe and effective treatments. IGC-AD1, an orally administered medication with a strong safety profile, potentially positions IGC Pharma favorably in this market landscape. IGC-AD1, with its patent protection, represents a promising advancement in Alzheimer's treatment. The APIs in IGC-AD1 have been shown to target amyloid plaques in Alzheimer's cell lines through two mechanisms: a) inhibiting amyloid protein production and b) preventing its aggregation. Preliminary data from Alzheimer's cell lines suggest that IGC-AD1 may reduce plaque aggregation by approximately 20% and decrease its production by up to 40% without affecting the production of Amyloid Precursor Protein ("APP"), which is essential for cell growth and survival. Major Estimate Revision • Sep 02
Consensus revenue estimates decrease by 21% The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from US$1.34m to US$1.06m. EPS estimate unchanged from -US$0.12 per share at last update. Pharmaceuticals industry in the US expected to see average net income growth of 1.0% next year. Consensus price target up from US$3.50 to US$3.63. Share price was steady at US$0.36 over the past week. Ankündigung • Aug 22
IGC Pharma Announces Research Demonstrating New Molecule IGC-1C Targets Tau Protein in Alzheimer's Disease IGC Pharma, Inc. announced preclinical research demonstrating the therapeutic potential of IGC-1C, a novel small-molecule modulator. The findings show that IGC-1C targets tau protein phase separation, presenting new opportunities for addressing multiple pathways in neurodegenerative disease. Additionally, the company previously announced that IGC-1C along with IGC-1A have been identified by the Company's Artificial Intelligence ("AI") model as potential GLP-1 receptor agonists, offering promise as candidates for weight loss treatments and presenting a unique strategy to combat Alzheimer's disease. Preclinical investigations indicate that IGC-1C exhibits a dissociation constant (Kd) of 3.95 ± 0.32 µM with tau, demonstrating a robust binding affinity that supports its potential as a therapeutic agent. The Kd value reflects the strength of the interaction between IGC-1C and tau, and this high affinity reinforces IGC-1C's efficacy in modulating tau protein, which is involved in the formation of neurofibrillary tangles, a key hallmark of Alzheimer's disease. IGC-1C, a cyclic dipeptide-based small-molecule modulator, represents a pioneering approach to addressing tau-related pathology. The in-vitro research shows that IGC-1C effectively inhibits tau condensates formed by zinc-induced liquid-liquid phase separation ("LLPS") and prevents their transition into toxic fibrils. By disrupting this phase separation and aggregation process, IGC-1C could, subject to more trials, halt the formation of tau tangles, offering a potential breakthrough in slowing Alzheimer's progression. In addition to its impact on tau pathology, IGC-1C has been identified as a potential GLP-1 receptor agonist. GLP-1 (glucagon-like peptide-1) is a hormone with receptors throughout the brain, including areas affected by Alzheimer's. Research indicates that GLP-1 has been shown to be neuroprotective against Aß toxicity by reducing oxidative stress and inflammation, increasing Aß clearance, improving insulin signaling, and promoting neurogenesis. This dual mechanism positions IGC-1C as a promising candidate for treating weight loss, and neurodegenerative and metabolic disorders, although there can be no assurance thereof. Ankündigung • Aug 21
IGC Pharma, Inc. Expands Drug Portfolio to Metabolic Disorders with IGC-1A, A Potential New GLP-1 Agonist IGC Pharma, Inc. announced that the Company's proprietary molecule, IGC-1A, has been identified as a potential GLP-1 agonist, as a result of the Company's Artificial Intelligence (‘AI’) modeling. This discovery highlights the versatility of IGC Pharma's drug platforms and marks the Company's potential for strategic expansion to metabolic disorders and weight loss. Identifying IGC-1A as a potential GLP-1 agonist marks a significant milestone for IGC Pharma, presenting a substantial market opportunity and improving patient care for various conditions. GLP-1 (glucagon-like peptide-1) is a powerful hormone known for its dual role in managing blood sugar levels and promoting weight loss. As GLP-1 agonists gain traction for their effectiveness in treating type 2 diabetes and aiding weight management by increasing satiety and reducing appetite, they are also being explored for their neuroprotective benefits. This could potentially revolutionize treatments for Alzheimer's disease by addressing inflammation and oxidative stress, offering a multifaceted approach to improving patient outcomes. In 2024, IGC Pharma anticipates progressing toxicology and dosing studies in preparation for submitting an Investigational New Drug Application for IGC-1A to the FDA although there can be no assurance thereof. IGC Pharma's potential strategic expansion to metabolic disorders underscores the Company's commitment to leveraging advanced AI technology to drive innovation and develop impactful solutions that create substantial value for investors. Recent Insider Transactions Derivative • Aug 12
Independent Chairman of the Board notifies of intention to sell stock Richard Prins intends to sell 200k shares in the next 90 days after lodging an Intent To Sell Form on the 12th of August. If the sale is conducted around the recent share price of US$0.39, it would amount to US$78k. Since March 2024, Richard has owned 1.24m shares directly. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Reported Earnings • Aug 09
First quarter 2025 earnings: EPS in line with expectations, revenues disappoint First quarter 2025 results: US$0.033 loss per share. Revenue: US$272.0k (down 51% from 1Q 2024). Net loss: US$2.38m (loss widened 15% from 1Q 2024). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Pharmaceuticals industry in the US. Major Estimate Revision • Jul 26
Consensus revenue estimates increase by 12% The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from US$1.20m to US$1.34m. EPS estimate reaffirmed at -US$0.12 per share. Pharmaceuticals industry in the US expected to see average net income growth of 3.0% next year. Consensus price target up from US$3.38 to US$3.50. Share price fell 2.2% to US$0.45 over the past week. Ankündigung • Jul 11
IGC Pharma, Inc., Annual General Meeting, Aug 23, 2024 IGC Pharma, Inc., Annual General Meeting, Aug 23, 2024. Location: 10224 falls road, potomac, maryland United States Ankündigung • Jul 10
IGC Pharma's Preclinical Analyses of TGR-63 Demonstrate Blood-Brain Barrier Permeability and Safety Profile IGC Pharma, Inc. announced preclinical data demonstrating TGR-63’s potential as an effective treatment for Alzheimer’s disease. Analysis of the partition coefficient and mass spectrometry of brain tissue in Alzheimer’s murine models both indicate that TGR-63 has the potential to cross the blood-brain barrier in humans. These findings build on earlier results demonstrating TGR-63’s efficacy in reducing amyloid plaque in Alzheimer's mouse models. Ensuring effective drug delivery to the brain is a major challenge in treating Alzheimer’s disease. The preclinical studies on TGR-63 included an analysis of the partition coefficient in an aoctanol-water assay the partition coefficient calculated as Log Poctanol/water, indicated that LogP=0.1, which suggests that TGR-63 possesses favorable properties for penetrating the blood-brain barrier, a critical step in accessing brain tissue. Additionally, mass spectrometry analysis of brain tissue samples from TGR-63-treated mice confirmed the presence of the compound in the brain, validating its ability to cross the blood-brain barrier in mice and potentially in humans. Furthermore, the safety profile of TGR-63 was evaluated through extended studies in mice. Mice received daily doses of TGR-63 for eight months without exhibiting any adverse effects. Comprehensive examinations of major organs, including the liver, heart, spleen, and kidneys, revealed no signs of toxicity, inflammation, or cell death, indicating biocompatibility and safety. IGC continues to progress TGR-63 towards clinical trials, representing a significant advancement in Alzheimer's treatment research. Reported Earnings • Jun 27
Full year 2024 earnings: EPS in line with analyst expectations despite revenue beat Full year 2024 results: US$0.22 loss per share (further deteriorated from US$0.22 loss in FY 2023). Revenue: US$1.35m (up 48% from FY 2023). Net loss: US$13.0m (loss widened 13% from FY 2023). Post-clinical trial products Approved (during full year): 1 Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Ankündigung • Jun 25
IGC Pharma, Inc.'S TGR-63 Preclinical Results Show Substantial Reduction in Amyloid Plaque, A Key Hallmark of Alzheimer's Disease IGC Pharma, Inc. announced encouraging preclinical results in an Alzheimer's mouse model demonstrating the potential of the Company's therapeutic candidate, TGR-63, to combat Alzheimer's disease. Alzheimer's disease is characterized by the buildup of abnormal protein aggregates in the brain, including amyloid plaques. These plaques are thought to play a major role in the cognitive decline and memory loss associated with the disease. Current medications for Alzheimer's primarily focus on reducing or clearing amyloid plaque, highlighting its importance as a therapeutic target. These findings suggest TGR-63's potential to slow or even reverse the progression of Alzheimer's disease. Prior to in vivo studies, TGR-63 demonstrated its ability to disrupt the formation of toxic amyloid beta (Aß42) aggregates in cell cultures and increase the viability of neuronal cells exposed to Aß42, indicating potential neuroprotective effects. TGR-63's unique structure allows it to interact with amyloid beta aggregates, potentially disrupting their structure and promoting their breakdown or clearance by the body's natural waste disposal systems. This could ultimately lead to a reduction in plaque burden in the brain, although there can be no assurance. The positive results from these preclinical studies could pave the way for advancing TGR-63 through clinical trials. IGC Pharma expects to begin a Phase 1 trial for TGR-63 in 2025, although there can be no assurance. Ankündigung • May 29
IGC Pharma, Inc. Announces Patient Enrollment At Neurostudies in Phase 2 Trial Investigating IGC-AD1 IGC Pharma, Inc. announced patient enrollment at Neurostudies, Inc. in Port Charlotte, Florida, for its Phase 2 clinical trial investigating IGC-AD1 as a potential treatment for Agitation in Alzheimer's disease. IGC Pharma is currently conducting a Phase 2 trial with IGC-AD1, a partial CB1r agonist with anti-neuroinflammatory properties and an inflammasome inhibitor, to treat Agitation in dementia due to Alzheimer's disease. Neuroinflammation, neurotransmitter imbalance, loss of CB1r, and inflammasome-3 have been implicated in Agitation and aggression in patients who have dementia due to Alzheimer's. IGC-AD1 contains low doses of Tetrahydrocannabinol as one of its two active pharmaceutical agents. THC is the principal active cannabinoid found in Cannabis. IGC-AD1 is a first-of-its-kind THC-based formulation undergoing a formal Phase 2 clinical trial in Alzheimer's disease. Neurostudies, led by Principal Investigator Dr. Liliana Montoya and Sub-Investigator Dr. George Li, boasts over two decades of experience in clinical research. The first two patients at Neurostudies were enrolled on May 1, 2024, and May 24, 2024, signifying a critical milestone underscoring IGC Pharma's commitment to delivering shareholder value through groundbreaking advancements in Alzheimer's therapy. By expanding the trial network to include esteemed sites like Neurostudies, the Company strengthens its position in developing therapies to address unmet needs in Alzheimer's-related Agitation. The company's mission is to transform the landscape of Alzheimer's treatment with a robust pipeline of five promising drug candidates. IGC-AD1 and LMP target the hallmarks of Alzheimer's disease, including neuroinflammation, Ab plaques, and neurofibrillary tangles. IGC-AD1 are undergoing a Phase 2 clinical trial for Agitation in dementia associated with Alzheimer's (clinicaltrials.gov, NCT05543681). TGR-63 disrupts the progression of Alzheimer's by targeting Ab plaques. IGC-M3, currently in preclinical development, aims to inhibit the aggregation of Ab plaques, potentially impacting early-stage Alzheimer's. Ankündigung • Apr 16
IGC Pharma, Inc Announces Interim Data from Its Phase 2 Clinical Trial Demonstrates Clinically Significant Reduction, Approaching Statistical Significance, in Agitation in Alzheimer’S At Week Two Compared to Placebo IGC Pharma, Inc. announced that interim data from its Phase 2 clinical trial demonstrates a clinically significant reduction, approaching statistical significance, in agitation in Alzheimer’s at week two compared to placebo. IGC-AD1 targets neuroinflammation and CB1 receptor dysfunction, and the investigational drug contains THC as one of two active pharmaceutical agents. THC is a principal psychoactive cannabinoid found in Cannabis. IGC-AD1 is a first-of-its-kind THC-based-formulation undergoing a formal Phase 2 clinical trial in Alzheimer’s disease (clinicaltrials.gov, Identifier: CT05543681). The secondary outcome, as measured by the change in agitation versus placebo using a standard measurement scale, the Cohen Mansfield Agitation Inventory (“CMAI”) at baseline and week 2, exhibited an Effect Size (“ES”) of 0.79 (p=0.071) indicating a large magnitude of difference between the active and placebo groups. For context, a study published in 2003 concluded that an effect size over 0.5 corresponds to a change that is noticeable to a careful observer, highlighting the notable impact of IGC-AD1. Further, in May 2023, the FDA approved Brexpiprazole, an atypical antipsychotic, with a boxed warning. This approval followed a significantly larger 12-week Phase 3 trial, which showed a Cohen’s d effect size of 0.35 whereas IGC-AD1 showed an effect size of 0.79 in two weeks, emphasizing, subject to further trials, the potential of IGC-AD1 as a treatment option. The ongoing 146-patient clinical trial is a multicenter, double-blind, randomized, placebo-controlled study designed to assess safety and efficacy of IGC-AD1 in treating agitation in dementia due to Alzheimer’s. To date over 1,000 oral doses have been administered, with no dose-limiting adverse events observed, highlighting the safety profile of IGC-AD1. New Risk • Apr 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable next year (US$11m net loss next year). Share price has been volatile over the past 3 months (10% average weekly change). Shareholders have been diluted in the past year (24% increase in shares outstanding). Revenue is less than US$5m (US$1.2m revenue). Market cap is less than US$100m (US$26.4m market cap). Ankündigung • Mar 27
IGC Pharma, Inc. announced that it expects to receive $3 million in funding from Bradbury Asset Management (Hong Kong) Limited IGC Pharma, Inc. entered into a Share Purchase Agreement to issue 8,823,529 shares of common stock at issue price $0.34 for a gross proceeds $2,999,999.86 on March 21, 2024. The completion of the private placement is subject to customary closing conditions, including approval by the NYSE. The transaction included participation from returning lead investor, Bradbury Asset Management (Hong Kong) Limited Ankündigung • Mar 22
IGC Pharma, Inc. has filed a Follow-on Equity Offering in the amount of $6.24051 million. IGC Pharma, Inc. has filed a Follow-on Equity Offering in the amount of $6.24051 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Recent Insider Transactions Derivative • Mar 18
President notifies of intention to sell stock Ram Mukunda intends to sell 300k shares in the next 90 days after lodging an Intent To Sell Form on the 15th of March. If the sale is conducted around the recent share price of US$0.34, it would amount to US$101k. For the year to March 2017, Ram's total compensation was 36% salary and 64% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2023, Ram's direct individual holding has increased from 3.75m shares to 8.54m. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Ankündigung • Mar 13
Igc Pharma, Inc. Appoints Terry Lierman as Independent Director to Its Board of Directors IGC Pharma, Inc. announced that it has appointed Terry Lierman as an independent director to its board of directors. Mr. Lierman is currently Co-Chair of the Board of Advisors at the Institute of Human Virology (IHV), a center in the U.S. focused on accelerating the discovery of diagnostics and therapeutics for deadly viral and immune disorders and a member of the Board of Visitors at the La Follette School of Public Affairs at the University of Wisconsin, his alma mater. Terry founded the Children’s Research Institute, one of America's top children’s research programs, the Pancreatic Cancer Action Network (PanCAN), and the National Organization on Fetal Alcohol Syndrome (NOFAS). In addition, from 1987 to 1999, he served as a director/trustee of the NY Life-Mainstay Funds. His distinguished career includes serving at the National Institutes of Health (NIH), as the chief administrator for drug research and development at the National Cancer Institute (NCI), and as the Staff Director for the Committee on Appropriations at the U.S. Senate and the Chief of Staff and White House liaison to the U.S. House of Representative’s Majority Leader. Reported Earnings • Feb 16
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: US$0.088 loss per share (further deteriorated from US$0.042 loss in 3Q 2023). Revenue: US$204.0k (down 39% from 3Q 2023). Net loss: US$5.59m (loss widened 149% from 3Q 2023). Revenue missed analyst estimates by 54%. Earnings per share (EPS) also missed analyst estimates by 125%. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 9.1% growth forecast for the Pharmaceuticals industry in the US. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 48% per year, which means it is performing significantly worse than earnings. Ankündigung • Jan 17
Igc Pharma, Inc. Activates Clincloud, One of 12 Sites in Ongoing Phase 2B Alzheimer’S Trial IGC Pharma, Inc. announced that ClinCloud, a clinical research facility in Florida, has dosed its first patient as part of the Company’s ongoing Phase 2b trial. IGC Pharma is currently conducting a Phase 2b trial at twelve sites in the US and Canada with IGC-AD1, a combination medicine with a CB1 receptor partial agonist with anti-neuroinflammatory properties, and an inflammasome inhibitor to treat agitation in dementia from Alzheimer’s. Neuroinflammation, neurotransmitter imbalance, loss of CB1 receptors, and inflammasome-3 have been implicated in agitation/aggression. ClinCloud has two sites in Florida, one in Maitland and the other in Viera-Melbourne. Individuals diagnosed with Alzheimer’s disease and/or their caregivers who live near the sites are encouraged to contact ClinCloud for information regarding enrolling in the trial. Contact information is available at clincloudresearch.com. IGC Pharma has 12 sites and is on target to roll out additional sites in the U.S. and in Canada to increase population diversity and promote the inclusion of underrepresented populations. The trial will enroll 146 patients with one half, the treated group, receiving IGC-AD1, and the other half, the control group, receiving a placebo. New Risk • Nov 12
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$6.9m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$6.9m free cash flow). Earnings have declined by 24% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (20% increase in shares outstanding). Revenue is less than US$5m (US$1.3m revenue). Market cap is less than US$100m (US$18.8m market cap). Reported Earnings • Nov 12
Second quarter 2024 earnings released: US$0.045 loss per share (vs US$0.047 loss in 2Q 2023) Second quarter 2024 results: US$0.045 loss per share. Revenue: US$291.0k (up 44% from 2Q 2023). Net loss: US$2.45m (flat on 2Q 2023). Ankündigung • Aug 03
IGC Pharma Expands Phase 2 Trial of IGC-Ad1 to Include the University of Puerto Rico IGC Pharma, Inc. announced the addition of an important trial site at the University of Puerto Rico network as an expansion of the Company’s ongoing Phase 2 clinical trial investigating lead drug asset, IGC-AD1, as a treatment for lowering agitation in patients with Alzheimer’s disease. IGC-AD1 is the only natural THC-based investigational drug undergoing FDA trials. The therapy relies on low doses of THC and another compound as pharmaceutical active agents for the treatment of Alzheimer’s disease and has shown in pre-clinical studies the potential to be effective in ameliorating Aß plaques and in Phase 1 the potential to reduce neuropsychiatric symptoms such as agitation in dementia due to Alzheimer’s. The expansion of the Phase 2 trial into Puerto Rico aims to increase population diversity and promote the inclusion of underrepresented populations. The Company plans to further increase population diversity by adding future sites in South America and Canada. The trial will enroll 146 patients with one half, the treated group, receiving IGC-AD1, and the other half, the control group, receiving a placebo. The goal of the trial is to evaluate and establish the efficacy of IGC-AD1 in helping patients with Alzheimer’s dementia reduce neuropsychiatric symptoms (“NPS”) such as agitation, which affects 76% of individuals with Alzheimer’s (Mussele et al., 2015). Ankündigung • Jul 21
IGC Pharma, Inc. Presents 6 Posters on the Positive Impact of IGC-AD1 on Neuropsychiatric Symptoms in Dementia at the 2023 Alzheimer's Association International Conference IGC Pharma, Inc. announced that it is presenting 6 in-person posters highlighting data from its Phase 1 clinical trials investigating the Company's lead therapeutic candidate, IGC-AD1, at the Alzheimer's Association International Conference ("AAIC") being held July 16-20, 2023, in Amsterdam, Netherlands. IGC-AD1 is the only natural low-doses THC-based investigational drug undergoing FDA trials. The therapy relies on low doses of THC and another compound as active agents for the treatment of neuropsychiatric symptoms associated with Alzheimer's disease. It has also shown in pre-clinical trials the potential to be effective in ameliorating A plaques, a key hallmark of Alzheimer's. IGC- AD1 is currently in Phase 2 of clinical trials as a potential treatment for agitation in dementia due to Alzheimer's. According to Alzheimer's Disease International, the number of people living with Alzheimer's and other dementias is projected to nearly triple by 2050, with approximately 76% experiencing agitation. IGC expects that 13-15 trial sites can process between 15 to 20 patients per month and is targeting completion of its Phase-2 trial in the first quarter of calendar year 2024. Ankündigung • Jul 07
IGC Pharma, Inc. announced that it expects to receive $3 million in funding from Bradbury Asset Management (Hong Kong) Limited and other investors IGC Pharma, Inc. announced a private placement to issue 10,000,000 unregistered common shares at an issue price of $0.30 per share for gross proceeds of approximately $3 million on July 6, 2023. The completion of the private placement is subject to customary closing conditions, including approval by the NYSE. Under the terms of the private placement. These shares are not immediately tradable, and it is important to note that the transaction does not include warrants or other derivatives. The transaction includes participation from four investment funds managed by returning investor Bradbury Asset Management (Hong Kong) Limited, along with additional contributions from three unrelated investors. Ankündigung • Jul 01
IGC Pharma, Inc. announced delayed annual 10-K filing On 06/30/2023, IGC Pharma, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Reported Earnings • Feb 16
Third quarter 2023 earnings released: US$0.042 loss per share (vs US$0.047 loss in 3Q 2022) Third quarter 2023 results: US$0.042 loss per share (improved from US$0.047 loss in 3Q 2022). Net loss: US$2.25m (loss narrowed 5.5% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Ankündigung • Jan 05
India Globalization Capital, Inc. Receives No Objection Letter from Health Canada India Globalization Capital, Inc. announced it has received a no objection letter from Health Canada for approval of its trial, “A Phase 2, Multi-Center, Double-Blind, Randomized, Placebo-Controlled Trial of the Safety and Efficacy of IGC-AD1 on Agitation in Participants with Dementia due to Alzheimer’s Disease.” The no objection letter provides the acknowledgement of IGC-AD1’s drug candidacy and the authority to proceed with Phase 2 trials in Canada. IGC-AD1 relies on low doses of THC, a psychoactive cannabinoid, and another compound as active agents in trials for Alzheimer’s. The formulation recently commenced Phase 2 of clinical trials required by the FDA and demonstrated in Alzheimer’s cell lines the potential to be effective in suppressing or ameliorating a key protein that is responsible for Aß plaques – a key hallmark of the disease. Reported Earnings • Nov 02
Second quarter 2023 earnings released: US$0.047 loss per share (vs US$0.087 loss in 2Q 2022) Second quarter 2023 results: US$0.047 loss per share (improved from US$0.087 loss in 2Q 2022). Net loss: US$2.44m (loss narrowed 44% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 23% per year whereas the company’s share price has fallen by 21% per year. Reported Earnings • Aug 06
First quarter 2023 earnings released: US$0.054 loss per share (vs US$0.037 loss in 1Q 2022) First quarter 2023 results: US$0.054 loss per share (down from US$0.037 loss in 1Q 2022). Net loss: US$2.79m (loss widened 56% from 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Reported Earnings • Jun 23
Full year 2022 earnings released: US$0.30 loss per share (vs US$0.21 loss in FY 2021) Full year 2022 results: US$0.30 loss per share (down from US$0.21 loss in FY 2021). Net loss: US$15.0m (loss widened 70% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 26% per year whereas the company’s share price has fallen by 28% per year. Reported Earnings • Feb 12
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: US$0.047 loss per share (up from US$0.056 loss in 3Q 2021). Net loss: US$2.38m (loss widened 2.5% from 3Q 2021). Revenue missed analyst estimates by 36%. Earnings per share (EPS) exceeded analyst estimates by 300%. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 40% per year, which means it is well ahead of earnings. Reported Earnings • Oct 30
Second quarter 2022 earnings released: US$0.087 loss per share (vs US$0.04 loss in 2Q 2021) Second quarter 2022 results: Net loss: US$4.34m (loss widened 162% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Recent Insider Transactions Derivative • Sep 21
Independent Chairman of the Board notifies of intention to sell stock Richard Prins intends to sell 100k shares in the next 90 days after lodging an Intent To Sell Form on the 20th of September. If the sale is conducted around the recent share price of US$1.54, it would amount to US$154k. Since December 2020, Richard's direct individual holding has decreased from 745.00k shares to 620.00k. Company insiders have collectively sold US$574k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Aug 13
First quarter 2022 earnings released: US$0.037 loss per share (vs US$0.047 loss in 1Q 2021) First quarter 2022 results: Net loss: US$1.79m (loss narrowed 5.0% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 61% per year, which means it is well ahead of earnings. Reported Earnings • Jun 16
Full year 2021 earnings released: US$0.21 loss per share (vs US$0.18 loss in FY 2020) Full year 2021 results: Net loss: US$8.81m (loss widened 21% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 45% per year, which means it is well ahead of earnings. Recent Insider Transactions • Mar 09
Independent Chairman of the Board recently sold US$90k worth of stock On the 3rd of March, Richard Prins sold around 50k shares on-market at roughly US$1.80 per share. This was the largest sale by an insider in the last 3 months. Richard has been a seller over the last 12 months, reducing personal holdings by US$192k. Recent Insider Transactions Derivative • Mar 04
Independent Chairman of the Board notifies of intention to sell stock Richard Prins intends to sell 100k shares in the next 90 days after lodging an Intent To Sell Form on the 3rd of March. If the sale is conducted around the recent share price of US$1.83, it would amount to US$183k. Since June 2020, Richard's direct individual holding has decreased from 838.00k shares to 745.00k. Company insiders have collectively sold US$289k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Feb 14
Third quarter 2021 earnings released: US$0.056 loss per share (vs US$0.041 loss in 3Q 2020) Third quarter 2021 results: Net loss: US$2.32m (loss widened 45% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 44% per year, which means it is well ahead of earnings.