- IGC stock more than doubles…
- Company set to release results from clinical trial soon
India Globalization Capital Inc. (NYSE: IGC) stock is surging today on news of a patent for its THC-based Alzheimer’s treatment.
IGC stock jumped more than 194% shortly after today’s open and was trading 130% higher at writing.
The run comes after the company announced the “United States Patent and Trademark Office (‘USPTO’) issued a patent (#11,065,225) for the treatment of Alzheimer’s disease entitled ‘Ultra-Low dose THC as a potential therapeutic and prophylactic agent for Alzheimer’s Disease’” on July 20.
India Globalization Capital said the original patent application had been filed by the University of South Florida on August 1, 2016.
IGC then entered into an “exclusive license agreement” with the school on May 25, 2017 “with respect to the patent application and the associated research conducted on Alzheimer’s disease.”
The patent granted by the USPTO “relates to IGC’s proprietary formulation intended to assist in the treatment of individuals living with Alzheimer’s disease. IGC’s proprietary formulation, IGC-AD1, is the subject of the Company’s previously-disclosed Phase 1 clinical trial.”
The company finished cohort 3 of that trial in June and said, “the Data and Safety Monitoring Committee (“DSMC”) for IGC’s clinical trial will review the data from Cohort 3, and IGC will report its findings from all three Cohorts to the FDA.”
In Cohort 1 of that trial, IGC says they “administered one dose of the investigational new drug IGC-AD1 per day to Alzheimer’s patients.”
They then increased that dose to two per day in Cohort 2 and three doses per day in Cohort 3.
The company said the “phase 1 trial focuses on the safety and tolerability of IGC-AD1 on patients suffering from mild to severe Alzheimer’s.”
Throughout the trial, they monitored participants daily and “recorded certain solicited adverse events, such as somnolence, falls, dizziness, asthenia, suicidal ideation, hypotension, hypertension, psychiatric symptoms, seizures, paradoxical nausea, and vomiting.”
The company says, “To IGC’s knowledge, this is the first human clinical trial using low doses of natural THC, a psychoactive member of the cannabinoid class of natural products produced by the Cannabis sativa plant, on Alzheimer’s patients.
“We are motivated by the potential that, with future successful results from appropriate further trials, IGC-AD1 could contribute to relief for some of the 50 million people around the world expected to be impacted by Alzheimer’s disease by 2030 (WHO, 2020).”
More About IGC Stock
- India Globalization Capital Inc was founded in 2005 and is headquartered in Potomac, MD.
- IGC stock closed at $1.48 per share on Wednesday.
- Trading volume surged to nearly 185 million shares today.
- The company says it’s “comprised of two lines of business: an infrastructure operation and a plant and cannabinoid operation.”
- IGC’s infrastructure business focuses on contracting infrastructure projects and renting equipment in India.
- The company says it creates and markets new products and services, including but not limited to trading steel, iron ore, and building materials in Hong Kong throughout South Asia.
- IGC says its Plant-Based Therapy business is focused on “developing plant-based therapies that are rooted in hard science.”
- Its flagship product, Hyalolex, is “a plant-based alternative therapy that is aimed at helping improve the quality of life for elderly patients suffering from dementia including Alzheimer’s disease.”
- The company’s also developing alternative therapies for neuropathic pain, Parkinson’s disease, and other Central Nervous System disorders.
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