India Globalization Capital Inc. (IGC) stock was up more than 2.6% in pre-market trading at $1.93 at the last check. Last session, IGC stock closed at $1.88, a decrease of -32.86% or -$0.92. During Friday’s session, India Globalization stock fluctuated between $1.86 and $2.38 per share. During the day, shares of the company’s stock exchanged hands in a volume of 23.35 million, exceeding its average daily volume of 9.28 million over the last 50 days and exceeding its YTD average volume of 6.07 million shares.
IGC stock has gained 235.71% over the past 12 months, and it has gained 33.33% over the past week. India Globalization Capital has gained 21.29 percent over the last six months, and over the past three months, it has gained 17.50 percent. So far this year, IGC shares have returned 20.51%. As a result of news that a treatment patent has been issued, IGC stock is rising.
In what field did India Globalization Capital have that patent?
In order to treat conditions such as Alzheimer’s disease and pain, India Globalization Capital, Inc. (IGC) is developing cannabinoid-based therapies. Infrastructure and Life Sciences represent the company’s two main business lines. India Globalization Capital has its headquarters in Potomac, Maryland.
On July 20, 2021, India Globalization announced that the United States Patent and Trademark Office (“USPTO”) had issued a patent (#11,065,225), announced the company last week.
- The patent titled “Ultra-Low dose THC as a potential therapeutic and prophylactic agent for Alzheimer’s Disease” was granted to IGC for the treatment of Alzheimer’s disease,
- The original patent application was filed on August 1, 2016, by the University of South Florida (“USF”).
- A license was entered into for the patent application and associated research on Alzheimer’s disease between IGC and USF on May 25, 2017.
- As per the approved patent, India Globalization Capital’s proprietary formulation can be used to treat people who suffer from Alzheimer’s disease.
- Phase 1 clinical trials for the company’s proprietary formulation, IGC-AD1, have already been announced.
In its placebo-controlled Multiple Ascending Dose (MAD) phase 1 trial, India Globalization Capital recently announced that Cohort 3 of its IGC-AD1 using THC for patients suffering from Alzheimer’s disease was completed.
Prospective uses for IGC’s product:
To For the first time to the best of IGC’s knowledge, low doses of THC, which is a psychoactive member of the cannabinoid class of products produced by the Cannabis sativa plant, have been used to treat Alzheimer’s patients. India Globalization was motivated by the potential that if the proposed clinical trials for IGC-AD1 prove successful, the drug could offer some relief to the estimated 50 million people who are anticipated to be impacted by Alzheimer’s disease by 2030.