Why IGC Pharma Stock Is Moving Higher

IGC Pharma, Inc. IGC shares are trading higher Tuesday after the company provided preclinical trial data on its drug candidate TGR-63 showing the drug reduces plaque in Alzheimer’s.

The Details:

IGC Pharma highlighted data from a trial in which the group treated with TGR-63 showed a 78% and 85% reduction in the cortical and hippocampal amyloid load, respectively, reaffirming its potential to thwart the progression of Alzheimer’s disease. IGC Pharma stated it hopes to progress TGR-63 into human trials.

“The FDA’s recent approval of innovative drugs like Aducanumab and Lecanemab underscores the profound impact of targeting plaque formation in Alzheimer’s. TGR-63 aligns with this visionary approach, rekindling hope, and tangible progress in our fight against this neurodegenerative disease,” said Ram Mukunda, CEO of IGC Pharma.

“TGR-63 is a potential Alzheimer’s drug in the standard preclinical methodologies, first in Alzheimer’s cell lines, then in amyloid animal models, and finally with its ability to penetrate the blood-brain barrier.”

IGC Pharma develops advanced cannabis-based formulations for treating diseases and conditions including Alzheimer’s disease, premenstrual syndrome and chronic pain.

IGC Pharma shares are moving on heavy trading volume following the company’s announcement. According to data from Benzinga Pro, more than 2.77 million shares have already been traded in the session, compared to the stock’s 100-day average of less than 204,000 shares.

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IGC Price Action: According to Benzinga Pro, IGC Pharma shares are up 4.5% at 27 cents at the time of publication.

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