India Globalization more than doubles as Alzheimer's treatment gets patent

IGC Pharma

22/07/2021 13:50

** Cannabinoid-based drugs maker India Globalization Capital
Inc's shares  IGC.N  soar 152% premarket, set to open at a near
one-year high of $3.73 
    ** Co says United States Patent and Trademark Office issued
a patent for ultra-low dose of co's tetrahydrocannabinol
(THC)formulation for the treatment of Alzheimer's disease
 urn:newsml:reuters.com:*:nFWN2OY0N7
    ** THC is the psychoactive intoxicating component of
cannabis; Co completed early-stage trials for the drug on
Alzheimer's patients last month  urn:newsml:reuters.com:*:nL3N2O62Y0
    ** Original application for patent was made by University of
South Florida in 2016, following which IGC struck deal with USF
for the patent application and associated research 
    ** Shares set for their best session in 11 months; IGC is
the most traded stock across U.S. bourses premarket 
    ** IGC was among the five most traded U.S. stocks among
Fidelity customers on Wednesday
    ** IGC up ~5% YTD as of last close 

 (Reporting by Susan Mathew)
 ((susan.mathew@thomsonreuters.com))