India Globalization Capital, Inc. (NYSEAMERICAN: IGC) is having an overwhelmingly positive day in the market today, and for good reason. The company released data surrounding a potential treatment for Alzheimer’s disease, leading to excitement among investors and sending the stock screaming for the top. Today, we’ll talk about the news, what we’re seeing from IGC, and what we’ll be watching for ahead.
IGC Announces Alzheimer’s Results
As mentioned above, India Globalization Capital is having an incredibly strong day in the market today after releasing interesting data surrounding a potential Alzheimer’s Disease treatment. According to the press release offered by the company early this morning, the in vivo data was compiled from genetically engineered mice to mimic Alzheimer’s. IGC said the data showed marked improvement in spatial memory.
The treatment, currently known as IGC-AD1, was introduced to genetically-altered mice to gauge the effectiveness of the treatment. A test, known as the Morris Water Maze (MWM) test was used to evaluate spatial learning and memory.
In the press release IGC said that mice treated with IGC-AD1 at various doses exhibited significant decreases in learning trial errors and showed a marked decrease in escape latency times as compared with control groups.
According to the release, normal mice with no trace of Alzheimer’s took about 2 seconds to resolve the MWM while mice with Alzheimer’s took 8 seconds. However, mice that were treated with IGC-AD1 took only 4 seconds to complete the test, showing improvement of approximately 50%. In a statement, Ram Mukunda, CEO at IGC, had the following to offer:
“This is exciting as it holds the potential for improvement in spatial memory and short-term memory among Alzheimer’s patients. A common endpoint of Alzheimer’s is patients getting lost, or not being able to find their way home.
We are preparing the groundwork necessary to get Hyalolex, our lead product formulation for Alzheimer’s ready for Phase 2-B human trials. Independent of this, we expect to make the product available through medical dispensaries in select states of the U.S. In addition, we are working on addressing issues specific to the medical cannabis industry such as transactional difficulties, inadequate product labeling, product identification assurance and product origin assurance, using distributed ledgers inherent in blockchain technology. We are ready for an exciting 2018.”
What We’re Seeing From The Stock
One of the first things that we learn when we start to dabble in the market is that the news causes moves. That’s exactly what we’re seeing from India Globalization Capital as the news surrounding the positive Alzheimer’s data hits the wire. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (11:57), IGC is trading at $1.14 per share after a gain of $0.13 per share (13.50%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on IGC, and there’s definitely a lot to watch for. In particular, we’re interested in following the company’s ongoing work in the Alzheimer’s space as well as their work with regard to ensuring better quality in the medical cannabis field through the use of the blockchain. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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