IGC News & Events

IGC Pharma announced the addition of the Icahn School of Medicine at Mount Sinai in New York as a clinical site in the Company's Phase 2 CALMA trial evaluating IGC-AD1 for agitation associated with Alzheimer's disease. The addition of Mount Sinai comes as CALMA advances toward completion, with approximately 80% of targeted participants having completed trial participation.

Roth Capital notes that the DOJ has officially rescheduled cannabis products that are FDA approved and products regulated by state medical programs to Schedule 3 and points out that an ALJ hearing has been scheduled on June 29 to assess broader rescheduling, including adult-use. Highlighting the language that "holders of state medical marijuana licenses will no longer be subject to the deduction disallowance imposed by Section 280E," the firm believes the final order is "extremely favorable for" go-forward 280E; retrospective 280E; the potential for imports/exports; ultimate adult-use rescheduling; and "sector investability." Publicly traded companies in the cannabis space include Aurora Cannabis (ACB), CV Sciences (CVSI), Canopy Growth (CGC), Cronos Group (CRON), Goodness Growth (GDNSF), Green Thumb Industries (GTBIF), IGC Pharma (IGC), Tilray (TLRY), Trees Corporation (CANN) and Trulieve Cannabis (TCNNF).