IGC Pharma, Inc. has added Kerwin Medical Center in Dallas, Texas, as a new clinical site for its Phase 2 CALMA trial, which evaluates the cannabinoid‑based IGC‑AD1 for agitation in Alzheimer’s disease. The expansion follows the company’s recent announcement that enrollment is 80 % complete and is intended to accelerate the final phase of recruitment, bringing the study closer to enrollment completion and database lock.
"Kerwin Medical Center adds meaningful clinical depth to our CALMA network at an important stage of the trial. Dr. Khera’s experience in behavioral neurology and the site’s research infrastructure strengthen our ability to execute efficiently as we advance toward enrollment completion. As the trial approaches its next milestones, site quality and operational consistency remain critical to generating robust and reliable data," said CEO Ram Mukunda.
"This milestone represents a significant step in advancing the program toward enrollment completion, expected in mid‑2026, and positions the Company to progress toward database lock and topline results," Mukunda added.
The 80 % enrollment milestone was announced on April 14, 2026, and the company expects enrollment to finish in mid‑2026. Adding the Dallas site is a catalyst that should shorten the recruitment window and reduce the risk of delays, thereby improving the likelihood of timely topline results that are critical for the company’s funding and partnership strategy.
IGC Pharma remains unprofitable, reporting a net loss of $7.1 million for the fiscal year ended March 31, 2025, and a net loss of $4.1 million for the nine months ended December 31, 2025. Revenue for fiscal 2025 was approximately $1.2 million, down from about $1.3 million in fiscal 2024, largely due to a strategic shift away from white‑label manufacturing toward its core pharmaceutical and AI assets. The company operates through a Life Sciences segment and an Infrastructure segment, the latter of which has been completed. While the trial progress is a positive operational development, the financial picture remains challenging, underscoring the importance of the CALMA study’s success for future growth.
Additional context shows that IGC Pharma has secured authorization in Colombia to conduct psilocybin research for neuropsychiatric symptoms associated with dementia, and it changed its fiscal year end to December 31, 2025 to align with U.S. investor reporting standards. The company also leverages artificial intelligence in its drug discovery and development processes, positioning it to accelerate pipeline development once the CALMA trial reaches its endpoints.
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