IGC Pharma, Inc. reported its financial results for the second quarter of 2026, revealing a revenue of approximately $265,000, a decrease from $328,000 in the same period last year. For the six months ending June 30, 2026, the company generated $582,000 in revenue, down from $658,000 in the prior year. The decline in revenue is attributed to the company's strategic focus on advancing its lead product candidate, IGC-AD1, through its ongoing Phase 2 clinical trial, as well as the development of its artificial intelligence platform, MINT-AD.
The company incurred a net loss of $2.9 million for the three months ended June 30, 2026, compared to a loss of $1.6 million in the same period of 2025, marking an increase of 84%. For the first half of 2026, the net loss was approximately $5.3 million, nearly double the $2.8 million loss reported for the same period in 2025. The increase in losses is primarily due to higher research and development expenses, which rose by 63% to $1.4 million in the second quarter, reflecting the company's commitment to advancing its clinical trials and product pipeline.
Operationally, IGC Pharma has made significant strides in its clinical development. The CALMA trial for IGC-AD1 has reached its target enrollment of 146 participants, with ongoing efforts to mitigate potential attrition. The company is also developing two AI-enabled platforms, MINT-AD and the Agentic Harmonization Assistant (AHA), aimed at enhancing the diagnosis and management of Alzheimer’s disease. The beta version of AHA was announced in June 2026, indicating progress in the company's technological initiatives.
As of June 30, 2026, IGC Pharma reported total assets of approximately $9.5 million, a slight decrease from $9.7 million at the end of 2025. The company's cash and cash equivalents stood at $331,900, down from $900,000 at the end of the previous fiscal year, primarily due to cash used in operating activities. The working capital deficit increased to approximately $2 million, reflecting the company's ongoing investment in its clinical and research programs. Looking ahead, IGC Pharma anticipates that its current cash reserves, along with expected financing activities, will be sufficient to support operations for at least the next twelve months, although there can be no assurance regarding future financing conditions.
About IGC Pharma, Inc.
IGC Pharma Inc. develops innovative therapies targeting Alzheimer’s disease and neurodegenerative disorders. Its core focus is on advancing drug candidates like IGC-AD1 for agitation and sleep disturbances in Alzheimer’s patients, utilizing AI for early detection and personalized treatment. The company leverages proprietary IP, conducts clinical trials, and operates in global markets, aiming to deliver safe, effective, and differentiated CNS therapies.
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