IGC Pharma Revenue Declines 51% YoY Due To Completion Of Its Legacy Project In India, Highlights Important Milestones In Alzheimer's Research
Portfolio Pulse from Nina Zdinjak
IGC Pharma (NYSE:IGC) reported a 51% YoY revenue decline for Q1 FY2025 due to the completion of its legacy project in India. Despite the revenue drop, the company highlighted significant milestones in Alzheimer's research, including progress in its Phase 2 clinical trial for IGC-AD1 and positive pre-clinical outcomes for TGR-63. The company also reported a net loss of $2.4 million and increased R&D expenses.
August 09, 2024 | 1:24 pm
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IGC Pharma reported a 51% YoY revenue decline for Q1 FY2025 due to the completion of its legacy project in India. Despite the revenue drop, the company highlighted significant milestones in Alzheimer's research, including progress in its Phase 2 clinical trial for IGC-AD1 and positive pre-clinical outcomes for TGR-63.
The revenue decline is a short-term negative, but the significant progress in Alzheimer's research, particularly the Phase 2 trial for IGC-AD1, is a strong positive indicator for the company's future prospects. The market has already reacted positively with a 1.30% increase in share price.
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