IGC Pharma (IGC) Company Report

IGC Pharma has completed over 50% enrollment in its IGC 81 CALMA Phase Two trial for Alzheimer's agitation and expects to finish the trial in the first half of next year. An interim analysis showed the medication reduces agitation in two weeks, a significant improvement over existing treatments. The company plans to seek approval in both the U.S. and Canada.
The company strategically divested its non-core Vancouver manufacturing facility in September 2025 for $2.7 million, resulting in a $1.1 million non-cash profit and eliminating $600,000 in annual operating expenses.
IGC Pharma is advancing its MINT-AD AI platform for early Alzheimer's detection and cognitive decline prediction, and is a semi-finalist for a $1 million award in Alzheimer's research, with a presentation scheduled for December 5.
The company renewed its $12 million line of credit and is focused on minimizing dilution and selective capital raises to fund its operations.

Nov 17, 2025, 4:00 PM

IGC Pharma Provides Mid-Year Fiscal 2026 Update, Highlights CALMA Trial Progress and Strategic Divestment

IGC

New Projects/Investments

Guidance Update

M&A

IGC Pharma's lead drug candidate, IGC 81, in its Phase 2 CALMA trial for Alzheimer's agitation, has surpassed 50% enrollment and is expected to conclude in the first half of fiscal year 2027. An interim analysis showed a reduction in agitation within two weeks.
The company divested its non-core Vancouver manufacturing facility in September 2025 for $2.7 million, resulting in a $1.1 million non-cash profit and eliminating $600,000 in annual operating expenses. This strategic move allows resources to be redirected to the CALMA trial and other drug assets.
IGC is advancing MINT-AD, an AI-based diagnostic platform for early Alzheimer's detection and cognitive decline prediction, and is a semi-finalist for a $1 million prize in Alzheimer's research, with a presentation scheduled for December 5th.
IGC has renewed its $12 million line of credit and is focused on minimizing dilution and funding its business through selective capital raises.

Nov 17, 2025, 4:00 PM

IGC Pharma Completes Disposition of Vancouver Facility Assets

IGC

M&A

Accounting Changes

IGC Pharma, Inc., through its wholly-owned subsidiary Holi Hemp LLC, completed the disposition of certain manufacturing equipment, leasehold assets, and inventory from its Vancouver, Washington facility to Wellness Essentials Northwest LLC on November 13, 2025.
The transaction involved no cash consideration but included contractual rights for preferential product manufacturing pricing through December 31, 2030, and a contingent right to 10% of net proceeds if the buyer sells the business within five years. The aggregate fair value of the consideration received was approximately $2.7 million.
As a result of the disposition, IGC Pharma recognized a pro forma gain of $1,051 thousand in the statement of operations.
Pro forma adjustments as of June 30, 2025, show an increase in total assets by $1,051 thousand to $8,994 thousand, and a reduction in net loss attributable to common stockholders for the three months ended June 30, 2025, from $(1,599) thousand to $(548) thousand.

Nov 14, 2025, 3:03 PM

IGC Pharma Reports Promising Preclinical Data for Alzheimer's Treatment

IGC

New Projects/Investments

IGC Pharma announced promising in-vitro findings for IGC-1C, a low-molecular weight compound targeting an early-stage mechanism in Alzheimer's disease by modulating the tau protein's liquid-liquid phase separation (LLPS).
IGC-1C can inhibit the formation and promote the dissolution of zinc-mediated tau condensates, reducing their size and number and preventing their conversion into toxic amyloid fibrils, as demonstrated in preclinical studies.
The company plans to advance IGC-1C through further validation and clinical trials, with potential expansion into other neurodegenerative disorders and cancer therapies.
Despite this scientific progress, IGC Pharma faces financial challenges, including negative margins and a low Altman Z-Score.

Oct 7, 2025, 1:16 PM

IGC Pharma Price Target Raised by Ascendiant Capital

IGC

New Projects/Investments

Guidance Update

Ascendiant Capital Markets has maintained a "Buy" rating on IGC Pharma's stock and raised its price target from $4.25 to $4.50.
IGC Pharma is a clinical-stage biotechnology firm developing cannabinoid-based treatments for Alzheimer’s disease, with its lead asset IGC-AD1 currently in a Phase 2 trial.
The company's pipeline includes other investigational drugs and it integrates AI to accelerate drug discovery and clinical trials.
Analysts expect positive clinical data and progress in 2025 to be strong catalysts for the stock.
IGC Pharma has filed 30 patents and demonstrates strong liquidity with a current ratio of 1.25, a quick ratio of 0.47, and a low debt-to-equity ratio of 0.02.

Aug 26, 2025, 10:44 AM

Earnings Transcripts

Quarterly earnings call transcripts for IGC Pharma.

Nov 17, 2025

Jun 30, 2025

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