IGC Pharma Reports Decrease in Revenue and Increased Net Loss for Quarter Ending March 31, 2026

IGC Pharma, Inc. reported its financial results for the three months ending March 31, 2026, revealing a revenue of approximately $317,000, a decrease from $330,000 in the same period last year. The company experienced a gross profit of $55,154, down from $154,000, reflecting a gross margin of 17% compared to 47% in the prior year. The increase in cost of revenue to $262,000 from $176,000 was attributed to higher raw material and labor costs. The net loss for the quarter was approximately $2.4 million, a significant increase from a loss of $1.2 million in the same quarter of 2025, resulting in a loss per share of $0.02, unchanged from the previous year.

The company's operational expenses also saw notable changes, with selling, general, and administrative expenses rising to $1.2 million from $570,000, primarily due to the absence of a prior-year credit related to performance-based compensation. Research and development expenses increased by 28% to $1.3 million, driven by ongoing clinical trials for its lead product candidate, IGC-AD1, which is currently in a Phase 2 trial for treating agitation in Alzheimer’s dementia. The company is also developing an artificial intelligence platform, MINT-AD, aimed at enhancing Alzheimer’s disease diagnostics.

In terms of strategic developments, IGC Pharma has expanded its clinical trial operations internationally, including a recent addition of a site in Colombia, and has entered into various financing agreements to bolster its capital. The company raised approximately $710,000 through financing activities during the quarter, including proceeds from a promissory note and loans. As of March 31, 2026, IGC Pharma had cash and cash equivalents of $207,900, a decrease of 77% from the previous quarter, primarily due to cash used in operating activities.

Looking ahead, IGC Pharma's management emphasized the importance of completing the CALMA trial and advancing its product pipeline, including IGC-AD1 and MINT-AD. The company is focused on securing additional funding to support its clinical development programs and is exploring non-dilutive funding opportunities. However, the company cautioned that its ability to continue operations and fund its initiatives is contingent on securing sufficient capital, which may be influenced by market conditions and investor interest.