India Globalization Capital IGC Stock News

India Globalization Capital, Inc. (NYSEAMERICAN: IGC) is making a run for the top in the market this morning, gaining well over 50% before the bell. The gains come after the company announced that the FDA has approved a study for a potential Alzheimer’s disease Treatment. Here’s what you need to know:

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IGC Stock Climbs on FDA Approval of Alzheimer’s Study

In the press release, India Globalization Capital said that the United States Food and Drug Administration has authorized the initiation of a Phase 1 clinical trial. The trial is centered around the company’s investigational cannabinoid formulation for the treatment of patients with mild to severe dementia due to Alzheimer’s disease.

In the release, IGC said that it plans on enrolling patients into the 12-subject study after it completes administrative tasks. The study will be a Multiple Ascending Dose Study, with the goal of finding the maximum tolerated dose, assessing safety, and learning more about efficacy.

The authorization follows the company’s acquisition of rights to a patent filed by the University of South Florida. The patent, “THC as a Potential Therapeutic Agent for Alzheimer’s Disease,” protects the uses of ultra-low doses of cannabinoids combined with other compounts to create a formulation intended to treat Alzheimer’s disease.

Since the acquisition, the patent has been refiled and an additional patent on the formulation has been filed. In a statement, Ram Mukunda, CEO at IGC, had the following to offer:

Our strategy with IGC-AD1 is to initially conduct trials that establish the efficacy of IGC-AD1 on the Behavioral and Psychological Symptoms of Dementia (BPSD). Patients with moderate Alzheimer’s suffer from BPSD that includes among other symptoms delusions, agitation, aggression, depression, anxiety, apathy, and sleep disorder. Eventually, we expect to evaluate the efficacy of IGC-AD1 on plaques and tangles, the hallmarks of Alzheimer’s disease. We are excited with the progress made and that the FDA will allow the Company to initiate trial testing on human subjects using natural organic cannabis extracts. We believe that this a first human trail of this sort.

This News Is Huge

India Globalization Capital isn’t just heading into a clinical trial, it is heading into a trial to prove what many has believed for some time, cannabis has the potential to treat various conditions.

Preclinical data suggests that the formulation will lead to positive results, and if it does, it has the potential to be a blockbuster drug. At the moment, about 5.5 million Americans suffer from Alzheimer’s disease, with 44 million dealing with the condition around the world.

There is currently no cure for the disease, and the market is a massive one. If IGC brings its cannabinoid compound to market, it will likely be met with high demand, leading to an incredible revenue opportunity and making IGC stock one to watch.

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