IGC Pharma Reports $7.1 Million Net Loss, Focuses on Alzheimer’s Drug Development

IGC Pharma, Inc. reported a net loss of approximately $7.1 million for the fiscal year ending March 31, 2025, a significant reduction from the $13 million loss recorded in the previous fiscal year. The company's revenue for the period was $1.3 million, a slight decrease from $1.4 million in fiscal 2024. The decline in revenue was primarily attributed to the cessation of income from the Infrastructure segment, which had generated $164,000 in the prior year. However, revenue from the Life Sciences segment increased from $1.2 million to $1.3 million, reflecting the company's strategic focus on advancing its lead drug candidate, IGC-AD1, which is currently in Phase 2 clinical trials targeting agitation in Alzheimer’s patients.

In terms of operational developments, IGC Pharma has expanded its clinical trial for IGC-AD1 by adding 13 new research sites, including notable institutions like Miami Jewish Health and Butler Hospital’s Memory and Aging Program. The interim results from the ongoing Phase 2 trial have shown promising outcomes, with a statistically significant reduction in agitation and sleep disturbances among patients receiving the active medication compared to those on placebo. The company has also reassessed its reportable segment structure, now operating solely within the Life Sciences sector, which aligns with its mission to combat Alzheimer’s disease.

The company’s financial position has been bolstered by various funding initiatives, raising over $4.64 million through private equity placements and at-the-market offerings during fiscal 2025. As of March 31, 2025, IGC Pharma had cash and cash equivalents of approximately $405,000, down from $1.2 million the previous year. The decrease in cash reserves is attributed to ongoing operational expenses, including research and development costs, which totaled approximately $3.7 million for the year. The company has also entered into a $12 million working capital credit facility with O-Bank, which is expected to support its ongoing operations and clinical trials.

Looking ahead, IGC Pharma aims to continue its focus on the development of IGC-AD1 and other investigational therapies targeting Alzheimer’s disease. The company is also leveraging artificial intelligence to enhance its research capabilities and improve clinical trial efficiencies. Despite the challenges associated with drug development and regulatory approval, management remains optimistic about the potential of IGC-AD1 and its broader pipeline of drug candidates. The company anticipates further data readouts from the Phase 2 trial in late 2025, which could provide additional insights into the efficacy and safety of its lead product.