IGC Pharma (NYSEAM:IGC) Q2 2026 Earnings Call November 17, 2025 11:00 AM ET Company ParticipantsRam Mukunda - CEORosalyn Christian - Head of Investor RelationsConference Call ParticipantsEdward Wu - Equity Research AnalystJames Malloy - Managing Director, and Biotechnology, and Specialty Pharmaceuticals Equity Research AnalystAdam Snyder - Senior Equity AnalystOperatorLadies and gentlemen, greetings, and welcome to the IGC Pharma mid-year fiscal 2026 shareholder update call. At this time, all participants a ...

IGC Pharma (NYSEAM:IGC) Q2 2026 Earnings Call November 17, 2025 11:00 AM ET Company ParticipantsRam Mukunda - CEORosalyn Christian - Head of Investor RelationsOperatorLadies and gentlemen, greetings, and welcome to the IGC Pharma mid-year fiscal 2026 shareholder update call. At this time, all participants are in a listen-only mode. Please note this conference is being recorded. Following management's remarks, the call line will be opened for questions. It is now my pleasure to introduce your host, Rosalyn C ...

Financial Data and Key Metrics Changes - The company reported a non-cash profit of approximately $1.1 million from the divestiture of a non-core manufacturing facility, which was sold for about $2.7 million [20][21] - The company has renewed its $12 million line of credit and is focused on minimizing dilution while maintaining a clean capital table [17] Business Line Data and Key Metrics Changes - IGC 81 is currently in a phase two trial, with over 50% enrollment completed, and the company is optimistic about finishing the trial in the first half of next year [4][9] - The CALMA trial, which focuses on agitation in Alzheimer's patients, has expanded to multiple sites in the U.S. and Canada, with a significant increase in patient recruitment [10][28] Market Data and Key Metrics Changes - The company is addressing a significant unmet need in the Alzheimer's market, with over 55 million diagnosed patients and 400 million at risk due to Alzheimer's pathology [5][16] - The company is developing an AI-based diagnostic platform, MINT-AD, aimed at early detection and prediction of cognitive decline in Alzheimer's patients [13][14] Company Strategy and Development Direction - The company is focused on advancing its multi-asset pipeline, particularly IGC 81, which is seen as a near-term opportunity to drive shareholder value [6][12] - The strategic divestiture of the Vancouver manufacturing facility allows the company to redirect resources and management attention towards accelerating the CALMA trial and advancing other small molecule assets [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in completing the CALMA trial and achieving significant milestones in the upcoming year, which they believe will enhance shareholder value [18][31] - The company is not expecting any impact from recent legislation affecting the hemp industry on its pharmaceutical development and FDA approval processes [24][25] Other Important Information - The company is in the semi-final round for a $1 million prize aimed at advancing Alzheimer's research through AI, with a presentation scheduled for December 5 [29][31] - The company has received recognition for its work, including awards from the National Institute on Aging, highlighting its commitment to Alzheimer's research [29] Q&A Session Summary Question: Will there be another interim data analysis before the trial completion? - Management indicated that they do not expect another readout and are focused on completing the trial and the final readout [20] Question: Why was the Vancouver manufacturing facility divested? - The divestiture was strategic to eliminate $600,000 in annual operating expenses and redirect resources to accelerate the CALMA trial [20][21] Question: Are there plans for Canadian approval alongside FDA approval? - Yes, the company plans to seek approval in both the U.S. and Canada as the trial is being conducted in both regions [23] Question: Will the recent government funding bill impact the phase two trial? - Management clarified that the bill targets the consumer hemp market and does not affect the regulatory pathway for prescription drugs like IGC 81 [24][25] Question: How is enrollment going for the CALMA trial? - Enrollment has significantly increased, with a rise from signing up four patients a month to 14, aided by online advertising and geotargeting [28]