India Globalization Capital soars on Alzheimer's drug trial update

IGC Pharma

24/06/2021 13:26

** Shares of cannabinoid-based pharmaceutical company
 IGC.A  up 25.7% at a three-month high of $1.85 
    ** Co completes the final cohort of an early-stage clinical
trial of its drug on Alzheimer’s patients
    ** IGC’s tetrahydrocannabinol-based investigational new
drug, IGC-AD1, is intended to alleviate the symptoms of
individuals suffering from Alzheimer’s disease
    ** Co had received FDA approval to proceed with the Phase 1
trial on Alzheimer’s patients on July 30, 2020; cohort 3 is the
final cohort in the study
    ** Trial focuses on the safety and tolerability of IGC-AD1
on patients suffering from mild to severe Alzheimer’s
    ** Up to Wednesday's close, stock has lost 5% this year

 (Reporting by Shashank Nayar in Bengaluru)
 ((Shashank.Nayar@thomsonreuters.com; within U.S. +1 646 223
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