IGC Pharma Revenue Declines 51% YoY Due To Completion Of Its Legacy Project In India, Highlights Important Milestones In Alzheimer’s Research
IGC Pharma (NYSE:IGC) reported its financial results Thursday for the first fiscal quarter of 2025 ended June 30, 2024. The Maryland-based pharmaceutical company disclosed revenue of $272,000, representing a decrease of 51% compared to approximately $555,000 in the first fiscal quarter of 2024.
The company attributes the decrease in revenue to the completion of its legacy infrastructure project in India and some white-label project in the U.S., both of which comprised approximately 50% of the June 2023 revenue.
“The first quarter of fiscal 2025 was marked by significant milestones in our Alzheimer’s research portfolio, underscoring our strategic focus on our innovations,” Ram Mukunda, CEO of IGC Pharma, stated. “The progress in our Phase 2 clinical trial for IGC-AD1, highlighted by interim data demonstrating a clinically significant reduction in agitation, validates the immense potential of our lead investigational drug. Additionally, the …