Shares of India Globalization Capital, Inc. (IGC) stock continued to rise today on June 8, 2021, after rising as much as 21.58% at the previous closing. IGC stock price saw an uptrend of 7.69% to reach $1.82 a share as of this writing. IGC stock recently announced the completion of Cohort 2 of its Phase 1tetrahydrocannabinol-based clinical trial of IGC-AD1on patients with Alzheimer’s disease. Let’s deep dive to explore more of it.
Cohort 1 and 2 of Phase 1 Clinical Trial
Previously On May 14, IGC stock did announce the completion of Cohort 1 of phase 1 clinical trial of the same drug pursuant to which each participant of the trial was given one dose per day. In Cohort 2, two doses per day were given to each participant of the trial. After reviewing the data from Cohort 1 and Cohort 2, the data and safety monitoring committee has recommended Cohort three in which three doses per day would be given to the participants. Every participant is daily monitored for safety as well as certain behavioral changes. The phase 1 clinical trial is expected to be complete during the period between July and September 2021. Last year, IGC stock submitted the IGC-AD1 to the FDA and got the approval for conducting the trial on July 30, 2020.
Impact of Alzheimer Disease and role of IGC-AD1
According to the estimates by the world health organization (WHO), roughly 50 million individuals would be impacted by Alzheimer’s diseases by the end of 2030. IGC-AD1 is mainly intended to reduce the symptoms which individuals suffering from Alzheimer’s disease usually show. The severe condition causes loss of memory and dementia in Alzheimer’s patients. The current trial of IGC-AD1 is focused on the safety of the drug and if IGC stock gets better results from the first trial and appropriate FDA approvals, then it would further proceed the clinical study in order to evaluate the efficacy of the drug in the future.
So far so good for IGC stock as far as market sentiment is concerned. Even in the COVID-19 era, the India Globalization stock remained focused on Alzheimer’s disease and continuously put efforts to reach this stage. Now IGC stock is looking forward to proceeding with Cohort 3 to further evaluate the safety of the drug. In a nutshell, investors need to keep an eye on this penny stock.