POTOMAC, MARYLAND / ACCESS Newswire / August 19, 2025 / IGC Pharma, Inc. ("IGC" or the "Company") (NYSE American:IGC), a clinical-stage biotechnology company leveraging AI to develop innovative treatments for Alzheimer's disease, reported its financial results for the quarter ended June 30, 2025.
Highlights in the quarter include:
Accelerated progress on the Company's Phase 2 CALMA trial in Alzheimer's disease
Progress in the development of MINT-AD
Extension of its undrawn $12M credit facility
Ram Mukunda, CEO of IGC Pharma, commented, "We began fiscal 2026 with solid strategic momentum, advancing multiple programs that we believe position IGC for meaningful value creation this fiscal year. Our Phase 2 CALMA trial for IGC-AD1, a cannabinoid-based proprietary formulation with the potential to address agitation, a debilitating symptom affecting up to 76% of Alzheimer's patients, continues to progress toward critical milestones in the FDA clinical trial process. In parallel, our non-cannabinoid platforms, TGR-63 and IGC-M3, are moving through preclinical development with the goal of addressing underlying disease modification. We also made progress with MINT-AD, by increasing the number of harmonized databases and training algorithms. MINT-AD is our first-of-its-kind AI-driven physician's tool to help identify and stratify Alzheimer's risk factors and predict cognitive decline, which we believe can help the over 400 million individuals with early Alzheimer's pathology who are at risk for Alzheimer's."
Q1 FY2026 Company's Highlights:
Strategic & Operational Highlights
During the quarter, IGC expanded trial sites across North America (Ontario, FL, RI, PR, OK) to support enrollment in the CALMA Phase 2 trial of IGC-AD1, a proprietary natural cannabinoid based investigational medication in trials for controlling agitation in Alzheimer's disease, with potential disease-modifying effects.
On May 8, 2025, the Company presented genetic toxicology safety data for the IGC-AD1's active pharmaceutical ingredients, including ?-9 tetrahydrocannabinol ("THC"), at the 2025 Genetic Toxicology Association Meeting.
On June 24, 2025, the Company and O-Bank agreed to extend the $12 million credit facility under substantially the existing terms, with minor adjustments to the facility fees and the interest rate. The facility remained undrawn at quarter-end.
The Company is moving aggressively to cut cost and shift more resources to completing the CALMA Phase 2 trail and completing implementing MINT-AD. During, and subsequent to the end of the quarter IGC Pharma raised approximately $3.5 million via private placements and at-the-market (ATM) offering.
Company Updates:
On July 21, 2025, IGC's Principal Scientist Dr. Jagadeesh Rao received a Best Researcher Award at the 11th Annual World Neuroscience Awards.
Between July 29 and 30, 2025, the Company presented multiple posters at the Alzheimer's Association International Conference (AAIC) in Toronto, an event attended by approximately 10,000 participants. Presentations included new data on MINT-AD, IGC's flagship AI model for the early detection of Alzheimer's disease.
Financial Summary
During the three months ended June 30, 2025, the Company generated approximately $328 thousand in revenue, representing an increase of 21% compared to approximately $272 thousand generated during the three months ended June 30, 2024. The increase in revenue is attributed to white label sales of our over-the-counter formulations. The Company is committed to its current strategy of driving sales in formulations, both as branded and white-labeled products.
During the three months ended June 30, 2025, SG&A expenses decreased by approximately $462 thousand or 28% to approximately $1.2 million as compared to the three months ended June 30, 2024, from approximately $1.7 million. This significant decline in SG&A expenses is attributable to the Company's focused efforts to optimize corporate-level operational efficiency by lowering employee-related costs due to headcount alignment and compensation restructuring, implementing better inventory management systems, and reducing spending on legal and professional services through more efficient vendor management. These optimizations allowed the Company to preserve capital and extend its operational runway while maintaining the infrastructure necessary to support clinical development and strategic initiatives.
During the three months ended June 30, 2025, the Company reported Research and Development ("R&D") expenses decreased by approximately $38 thousand or 4% to approximately $851 thousand during the three months ended June 30, 2025, from approximately $889 thousand. The decrease is primarily due to a one-time non-cash expense of approximately $100 thousand in three months ended June 30, 2024. One-time expense adjusted, there is an increase in R&D expenses by $62 thousand. The R&D expenses are primarily attributed to the progression of Phase 2 trials on IGC-AD1 and preclinical studies on TGR-63, indicating the Company's dedication to advancing its product pipeline.
The net loss for the three months ended June 30, 2025, was approximately $1.6 million or $0.02 per share, compared to approximately $2.3 million or $0.03 per share for the three months ended June 30, 2024.
As of June 30, 2025, the Company has not drawn on the $12 million available under the Credit Agreement with O-Bank. IGC Pharma's financial statements for the quarter ended June 30, 2025, filed on Form 10-Q, are available on www.sec.gov.
About IGC Pharma (dba IGC):
IGC Pharma?(NYSE American:IGC) is a clinical-stage biotechnology company leveraging AI to develop innovative treatments for Alzheimer's and metabolic disorders. Our lead asset, IGC-AD1, is a cannabinoid-based therapy currently in a Phase 2 trial (CALMA) for agitation in Alzheimer's dementia. Our pipeline includes TGR-63, targeting amyloid plaques, and early-stage programs focused on neurodegeneration, tau proteins, and metabolic dysfunctions. We integrate AI to accelerate drug discovery, optimize?clinical trials, and enhance patient targeting. With 30 patent filings and a commitment to innovation, IGC Pharma is advancing breakthrough therapies.
Forward-Looking Statements
This press release contains forward-looking statements. These forward-looking statements are based largely on IGC Pharma's expectations and are subject to several risks and uncertainties, certain of which are beyond IGC Pharma's control. Actual results could differ materially from these forward-looking statements as a result of, among other factors, the Company's failure or inability to commercialize one or more of the Company's products or technologies, including the products or formulations described in this release, or failure to obtain regulatory approval for the products or formulations, where required, or government regulations affecting AI or the AI algorithms not working as intended or producing accurate predictions; general economic conditions that are less favorable than expected; the FDA's general position regarding cannabis- and hemp-based products; and other factors, many of which are discussed in IGC Pharma's U.S. Securities and Exchange Commission ("SEC") filings. IGC incorporates by reference its Annual Report on Form 10-K filed with the SEC on June 27, 2025, as if fully incorporated and restated herein. Considering these risks and uncertainties, there can be no assurance that the forward-looking information contained in this release will occur. IGC Pharma, Inc. assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.
Contact Information
Rosalyn Christian / John Nesbett
IMS Investor Relations
igc@imsinvestorrelations.com
(203) 972-9200
SOURCE: IGC Pharma, Inc.
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