IGC Pharma Q2 FY26 net loss widens to $3 million; revenue falls to $265,000

IGC Pharma posted Q2 net loss attributable to common stockholders of $3 million, or $0.03 a share, widening from $1.6 million, or $0.02.

Revenue fell 19.21% to about $265,000, while R&D expense climbed 64.51% to about $1.4 million on continued CALMA investment.

Selling, general and administrative costs rose 16.67% to about $1.4 million; cash and cash equivalents totaled about $331,000 at quarter-end.

CALMA Phase 2 trial hit its 146-patient baseline randomization target, moving within six additional randomizations of expected enrollment closure.

CEO Ram Mukunda said the focus is on follow-up, data quality and readiness for topline analysis, with Phase 2 topline data expected in Q4 2026.