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  • What Is Driving The India Globalization (IGC) Stock Up In Premarket Session?

    India Globalization Capital Inc. (IGC) stock was up more than 2.6% in pre-market trading at $1.93 at the last check. Last session, IGC stock closed at $1.88, a decrease of -32.86% or -$0.92. During Friday’s session, India Globalization stock fluctuated between $1.86 and $2.38 per share. During the day, shares of the company’s stock exchanged hands in a volume of 23.35 million, exceeding its average daily volume of 9.28 million over the last 50 days and exceeding its YTD average volume of 6.07 million shares.

    IGC stock has gained 235.71% over the past 12 months, and it has gained 33.33% over the past week. India Globalization Capital has gained 21.29 percent over the last six months, and over the past three months, it has gained 17.50 percent. So far this year, IGC shares have returned 20.51%. As a result of news that a treatment patent has been issued, IGC stock is rising.

    In what field did India Globalization Capital have that patent?

    In order to treat conditions such as Alzheimer’s disease and pain, India Globalization Capital, Inc. (IGC) is developing cannabinoid-based therapies. Infrastructure and Life Sciences represent the company’s two main business lines. India Globalization Capital has its headquarters in Potomac, Maryland.

    On July 20, 2021, India Globalization announced that the United States Patent and Trademark Office (“USPTO”) had issued a patent (#11,065,225), announced the company last week.

    • The patent titled “Ultra-Low dose THC as a potential therapeutic and prophylactic agent for Alzheimer’s Disease” was granted to IGC for the treatment of Alzheimer’s disease,
    • The original patent application was filed on August 1, 2016, by the University of South Florida (“USF”).
    • A license was entered into for the patent application and associated research on Alzheimer’s disease between IGC and USF on May 25, 2017.
    • As per the approved patent, India Globalization Capital’s proprietary formulation can be used to treat people who suffer from Alzheimer’s disease.
    • Phase 1 clinical trials for the company’s proprietary formulation, IGC-AD1, have already been announced.

    In its placebo-controlled Multiple Ascending Dose (MAD) phase 1 trial, India Globalization Capital recently announced that Cohort 3 of its IGC-AD1 using THC for patients suffering from Alzheimer’s disease was completed.

    Prospective uses for IGC’s product:

    To For the first time to the best of IGC’s knowledge, low doses of THC, which is a psychoactive member of the cannabinoid class of products produced by the Cannabis sativa plant, have been used to treat Alzheimer’s patients. India Globalization was motivated by the potential that if the proposed clinical trials for IGC-AD1 prove successful, the drug could offer some relief to the estimated 50 million people who are anticipated to be impacted by Alzheimer’s disease by 2030.

  • 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.