IGC Pharma Exceeds 70% Phase 2 Enrollment, Cuts Loss by $1.8M
IGC Pharma surpassed 70% enrollment in its Phase 2 CALMA trial for IGC-AD1 and reported a $4.1M net loss for the nine months ended December 31, 2025, improving by $1.8M year-over-year. The company divested a non-core facility for $2.7M, generating a $1.1M non-cash gain and cutting annual expenses by $600K.
1. Acceleration of Phase 2 CALMA Trial
IGC Pharma has expanded its Phase 2 CALMA trial to key international and domestic sites, pushing enrollment past the 70% mark. The trial is evaluating IGC-AD1 for agitation in Alzheimer’s dementia, with management targeting full patient recruitment and a defined clinical readout in the coming quarters.
2. Improved Financial and Operational Efficiency
For the nine months ended December 31, 2025, net loss attributable to common stockholders fell to $4.1 million from $5.9 million a year earlier. R&D expenses rose 48% to $4.0 million as trial activities accelerated, while a $2.7 million divestiture delivered a $1.1 million non-cash gain and reduced annual operating expenses by approximately $600,000; revenue stood at $869,000 amid its strategic shift.
3. Portfolio and Patent Expansion
The company secured U.S. Patent No. 12,465,589 for its proprietary IGC-AD1 formulation and U.S. Patent No. 12,491,200 for a cannabinoid treatment platform. Positive in-vitro results for IGC-1C and IGC-M3 deepened the pipeline, and the AI diagnostic suite earned recognition from the National Institute on Aging and Alzheimer’s Disease Data Initiative, underscoring IGC Pharma’s technology leadership.