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Tag: IGC

  • IGC Pharma, Inc. (IGC) Soars in After Market After Positive Alzheimer’s Research Results

    IGC Pharma, Inc. (NYSE: IGC) witnessed an unprecedented surge in its stock price following the release of encouraging phase 2 results in Alzheimer’s research. The initial uptick of 19.5% during trading hours was just the beginning of an exhilarating journey, as the afterhours session saw an additional 15% spike, propelling the stock beyond its 52-week high.

    Exploring IGC Pharma, Inc.

    Diving into IGC Pharma, Inc.’s niche reveals its commitment to pioneering cannabinoid-based alternative therapies. These innovative treatments target a range of conditions, including Alzheimer’s disease, Parkinson’s disease, and chronic pain.

    Leveraging the synergistic potential of cannabinoids like Tetrahydrocannabinol and Cannabidiol alongside complementary compounds forms the cornerstone of their research strategy, particularly in Alzheimer’s disease.

    Market Response and Anticipation

    The surge in trading volume, quadrupling average levels despite subdued market activity, underscores investors’ growing confidence in the company’s prospects. Speculation is rife that this bullish momentum may carry over into Thursday’s regular trading session, amplifying the excitement surrounding IGC Pharma, Inc.’s trajectory.

    Insights from Phase 2 Trial

    Significant attention is drawn to the recent interim results from the Phase 2 trial evaluating IGC-AD1’s potential in treating Agitation in dementia from Alzheimer’s Disease (AAD). These findings unveiled a tangible reduction in agitation levels compared to the placebo, hinting at a promising therapeutic avenue with IGC-AD1, thus highlighting the significance of this breakthrough.

    Understanding the Market

    Within the broader context, Alzheimer’s disease casts a long shadow, affecting millions of Americans. Of particular note is the often-overlooked Agitation in dementia from Alzheimer’s Disease (AAD), a condition exacerbating cognitive decline and burdening caregivers.

    Existing treatment modalities, fraught with risks, underscore the pressing need for safer and more efficacious alternatives, underscoring the potential significance of IGC-AD1.

    Conclusion

    In summary, the remarkable surge in IGC Pharma, Inc.’s stock price following positive phase 2 results underscores the growing recognition of cannabinoid-based therapies’ potential in addressing complex neurological conditions like AAD.

    As stakeholders await further developments, optimism pervades regarding the company’s trajectory and its ability to deliver treatment to patients in dire need.

  • India Globalization Capital Inc. (IGC) stock surged in the current trading session; Here’s why this is happening

    In the current trading session, India Globalization Capital Inc. (IGC) stock is racking up the prices of its shares by up to 141.89% to trade at the price of $3.58 at the last check. IGC stock previously closed the session at $1.48. The IGC stock volume traded 138.38 million shares today. In the past year up to datemIGC shares have surged by 154.60% and in the past week moved up by 3.50%. India Globalization Capital Inc. is currently valued in the market at $61.09 million and has 45.11 million outstanding shares.

    An overview of India Globalization Capital Inc.

    India Globalization Capital Inc. can be labeled as a conglomerate that focuses mainly on the purchasing and reselling of physical infrastructure commodities. There are two operational segments of the IGC stock’s business model. These segments include Infrastructure Business and Life Sciences. The company is involved in the trading of infrastructure commodities; buying and selling which includes wooden doors, tiles, steel, and marbles, etc. The infrastructure business segment also includes acquiring and renting heavy construction equipment and undertaking highway construction contracts.

    The Life Sciences segment of the company is currently seeing a trend in cannabinoid-based products and has thus started developing cannabinoid-based items and treatments, like Hyalolex for the treatment of patients from uneasiness, disturbance, dementia, melancholy, and rest issue illnesses. India Globalization Capital also focuses on hemp-based CBD imbued items under the Holief brand name; premium hemp-based CBD mixed natural skin and spa line of items under the Herbo brand name, and premium hemp-based CBD implanted seltzer under the Sunday Seltzer brand. Furthermore, it offers offer exchanging, refining, ringing, and white marking administrations under the Holi Hemp brand; and hemp rough concentrates, hemp detaches, and hemp distillates

    The conglomerate has expanded its operations in United States, India, Colombia, and Hong Kong. IGC stock was originated in 2005 and the company is based in Potomac, Maryland.

    Development of IGC’s THC based Alzheimer treatment and its patency

    The IGC stock is keeping up with the trends and growth in the marijuana and cannabis market as more and more states and countries ease down the criminalization law of cannabis. Furthermore, the company has also tapped into the medicinal marijuana and cannabis market which is fairly more legalized than recreational marijuana usage. IGC stock announced on 20th July 2021, that USPTO which stands for United States Patent and Trademark Office has issued a patent for the company’s proprietary development of Alzheimer’s treatment. This treatment is based on the THC dosage which acts as a potential therapeutic and prophylactic agent for the treatment of Alzheimer’s disease.

    The Company as of late reported the fulfillment of Cohort 3 in its fake treatment controlled Multiple Ascending Dose (MAD) stage 1 preliminary for setting up safety and potency of IGC-AD1 that utilizes THC on patients experiencing Alzheimer’s sickness.

    The unique patent application was started by the University of South Florida (“USF”) and documented on August 1, 2016. On May 25, 2017, IGC went into a selective permit concurrence (ELA) with USF concerning the patent application and the related examination led on Alzheimer’s infection.

  • Why India Globalization Capital, Inc (IGC) stock rallied in the after-hours on Wednesday after the recent announcement?

    India Globalization Capital Inc. (IGC) shares rallied 52.03% in after-hours on Wednesday, June 23, 2021, and closed the day at $2.25 per share. in the morning session on Wednesday, IGC’s stock remained unchanged and closed the session at $1.48 per share. IGC shares have risen 153.95% over the last 12 months, and they have moved down 6.92% in the past week. Over the past three months, the stock has lost 13.95%, while over the past six months, it has declined 16.38%.

    Let’s try to find out the reason behind its surge in the after-hours on Wednesday.

    Completion of phase 1 clinical trial of IGC-AD1on Alzheimer’s Patients

    On June 23, 2021, India Globalization Capital, Inc completed Cohort 3 of its Phase 1 clinical trial on IGC’s tetrahydrocannabinol (THC)-based investigational new drug, IGC-AD1, intended to ease the symptoms of individuals suffering from Alzheimer’s disease.

    FDA provided the approval for Phase 1 trial of IGC-AD1, on Alzheimer’s patients on July 30, 2020. On June 8, 2021, IGC completed Cohort 2 of its Phase 1 clinical trial of IGC-AD1.

    The Data and Safety Monitoring Committee of IGC’s clinical trial will review the data from Cohort 3, and IGC will report its findings from all three Cohorts to the FDA.

    Recent financial results announcement

    On June 14, 2021, India Globalization Capital, Inc. released its financial results for the Fiscal Year Ended March 31, 2021.

    FY 2021 financial highlights

    • India Globalization Capital reported revenue of approximately $898 thousand for FY 2021 compared to $4.1 million for Fiscal 2020.
    • Selling, general and administrative expenses were approximately 7.9 million in FY 2021 compared to approximately $6 million for Fiscal 2020.
    • Research and Development expenses were approximately $929 thousand for FY 2021 compared to approximately $1 million for Fiscal 2020.
    • The company suffered a net loss of approximately $8.8 million or $0.21 per share in FY 2021 compared to approximately $7.3 million or $0.19 per share for Fiscal 2020.
    • The company had total assets valued at $23.51 million on March 31, 2021, compared to $17.76 million on March 31, 2020.

    Q3 2021 financial results

    On February 12, 2021, India Globalization Capital, Inc released its financial results for the quarter ended December 31, 2020, which is the third quarter of its 2021 fiscal year.

    The company earned a revenue of $108 thousand for Q3 2021 compared to $573 thousand for Q3 2020.

    Selling, general and administrative expenses were $2,186 thousand for the three months ended December 31, 2020, compared to $1,413 thousand in Q3 2020.

    The company suffered a net comprehensive loss of approximately $2,283 thousand or $0.06 per share in Q3 2021 compared to approximately $1,646 thousand or $0.04 per share for the September 2019 quarter.

    Conclusion

    The IGC stock skyrocketed after the company announced the completion of Cohort 3 of its Phase 1 clinical trial which is positive news and we can expect that IGC stock can further go up in the coming days.

  • What changed for these 24 stocks in Pre Market Session

    What changed for these 24 stocks in Pre Market Session

    Sundial Growers Inc. (SNDL) stock plunged -4.62% to $0.287 in the pre-market trading. The company recently reported that it will participate in Cowen’s 2020 Boston Cannabis Conference, to be held virtually between November 30 and December 2, 2020. The most recent rating by CIBC, on August 17, 2020, is a Neutral.

    Ideanomics Inc. (NASDAQ: IDEX) shares are trading down -8.89% at $2.87 at the time of writing after the declaration by company that it has increased its stake in California-based Solectrac, Inc. through a follow-on investment of an additional $1.3 million. Company’s 52-week ranged between $0.28 to $3.98.

    Fuel Tech Inc. (FTEK), a Pollution & Treatment Controls company, dropped about -16.89% at $5.02 in pre-market trading Wednesday.

    Yunji Inc. (YJ) gained over 33.8% at $5.74 in pre-market trading Wednesday November 25, 2020 following the publication that the company has signed a cooperative framework agreement with Douyin, a leading Chinese live streaming platform owned by Bytedance.

    XPeng Inc. (XPEV) is down more than -5.69% at $66.61 in pre-market hours Wednesday November 25, 2020. The stock had dropped over -2.13% to $70.63 in the last trading session.

    DPW Holdings Inc. (DPW) stock plunged -6.66% to $5.89 in the pre-market trading after a news declared by the DPW Holdings, that its power electronics business, Coolisys Technologies Corp.® (“Coolisys®”), has established a program targeting both national and regional fast-food franchises to install the ACECool™ electric vehicle (“EV”) chargers as a part of a revenue sharing program.

    Li Auto Inc. (NASDAQ: LI) shares are trading down -5.14% at $41.7 at the time of writing. Company’s 52-week ranged between $14.31 to $44.18. Analysts have a consensus price target of $45.60.

    Macy’s Inc. (M) stock moved down -4.7 percent to $10.35 in the pre-market trading. The retail organization recently publicized that Malek Robert Amirshahi has been named senior vice president of corporate communications for Macy’s, Inc., effective December 7, 2020.

    Occidental Petroleum Corporation (OXY) lost over -3.52% at $16.19 in pre-market trading Wednesday November 25, 2020.

    Before the trading started on November 25, 2020, Blink Charging Co. (BLNK) is down -4.37% to reach $26.89. The organization recently told that it has acquired the EV charging operator U-Go Stations, Inc. and its portfolio of 44 DCFC charging locations. It has been trading in a 52-week range of $1.25 to $34.67.

    Tilray Inc. (TLRY) stock plunged -4.85% to $7.45 in the pre-market trading after the firm reported that it has entered into privately negotiated exchange agreements with certain holders of its 5.00% Convertible Senior Notes due 2023. The most recent rating by Jefferies, on November 16, 2020, is an Underperform.

    Marathon Patent Group Inc. (NASDAQ: MARA) shares are trading up 9.78% at $5.39 at the time of writing. Company’s 52-week ranged between $0.35 to $5.25. Analysts have a consensus price target of $7.50.

    Advaxis Inc. (ADXS), a Biotechnology company, rose about 7.36% at $0.3049 in pre-market trading Wednesday after the recent declaration by firm, the pricing of an underwritten public offering of (i) 26,666,666 shares of common stock and warrants to purchase up to 13,333,333 shares of common stock.

    ECMOHO Limited (MOHO) is down more than -22.22% at $2.8 in pre-market hours Wednesday November 25, 2020. The stock had jumped over 151.75% to $3.60 in the last trading session.

    Ayro Inc. (AYRO), a Auto Manufacturers company, dropped about -6.32% at $8.15 in pre-market trading Wednesday. The firm recently declared that the closing of its previously reported registered direct offering for an aggregate of $10 million in gross proceeds with Carnegie Hudson Resources, an investment arm of Wanxiang America, along with several existing institutional investors.

    Borr Drilling Limited (BORR) lost over -5.64% at $0.8766 in pre-market trading Wednesday November 25, 2020.

    OrganiGram Holdings Inc. (OGI) is down more than -1.64% at $1.2 in pre-market hours Wednesday November 25, 2020 after the healthcare company declared that it will report earnings results for its fourth quarter and full year Fiscal 2020 ended August 31, 2020 on Monday November 30th, 2020 before market open. The stock had jumped over 8.93% to $1.22 in the last trading session.

    Before the trading started on November 25, 2020, The Macerich Company (MAC) is down -4.5% to reach $10.41. It has been trading in a 52-week range of $4.56 to $26.20.

    The Gap Inc. (GPS), a Apparel Retail company, dropped about -11.57% at $23.76 in pre-market trading Wednesday after the company recently reported its financial results for the third quarter of fiscal year 2020, ending October 31.

    Aphria Inc. (NASDAQ: APHA) shares are trading down -3.65% at $6.6 at the time of writing. Company’s 52-week ranged between $1.95 to $6.60.

    Canaan Inc. (CAN), a Computer Hardware company, rose about 2.77% at $5.57 in pre-market trading Wednesday. The technology company plans to release its third quarter 2020 financial results before the market opens on Monday, November 30, 2020.

    Foresight Autonomous Holdings Ltd. (FRSX) is down more than -4.62% at $1.24 in pre-market hours Wednesday November 25, 2020. The stock had dropped over -2.99% to $1.30 in the last trading session.

    India Globalization Capital Inc. (IGC) stock plunged -7.43% to $1.37 in the pre-market trading. The firm reported that it is enrolling participants suffering from mild to severe dementia due to Alzheimer’s disease for its Phase 1 clinical trial.

    Jumia Technologies AG (NYSE: JMIA) shares are trading down -5.86% at $28.62 at the time of writing. Company’s 52-week ranged between $2.15 to $31.19. Analysts have a consensus price target of $4.50.