IGC Pharma Appoints New Officers, Clinical Trial Updates

TL;DR

IGC Pharma beefs up R&D with new CMO/CSO, clinical trial data coming soon!

AI Summary

On March 12, 2024, IGC Pharma, Inc. announced the appointment of Dr. Ramana Kumar as Chief Medical Officer and Dr. H.C. Gupta as Chief Scientific Officer. The company also reported on its ongoing clinical trials for Alzheimer's disease and Parkinson's disease, with preliminary data expected in Q2 2024. Additionally, IGC Pharma is advancing its hemp-derived cannabinoid products for various therapeutic applications.

Why It Matters

The appointment of new key scientific and medical officers signals a strategic move to bolster leadership in research and development, potentially accelerating the company's drug development pipeline.

Risk Assessment

Risk Level: medium — The company is in the clinical trial phase for its pharmaceutical products, which carries inherent risks associated with drug development and regulatory approval.

Key Numbers

• Q2 2024 — Preliminary Data (Expected release timeframe for clinical trial results)

Key Players & Entities

• IGC Pharma, Inc. (company) — Registrant
• Dr. Ramana Kumar (person) — Appointed Chief Medical Officer
• Dr. H.C. Gupta (person) — Appointed Chief Scientific Officer
• Alzheimer's disease (medical_condition) — Clinical trial focus
• Parkinson's disease (medical_condition) — Clinical trial focus
• Q2 2024 (date) — Expected preliminary data release

FAQ

Key Financial Figures

• $0.30 — 's common stock at an exercise price of $0.30 per share with an expiration of 10 year

Filing Documents

• igcpharma20240311_8k.htm (8-K) — 30KB
• ex_637840.htm (EX-10.1) — 31KB
• ex_637841.htm (EX-99.1) — 10KB
• ex_637841img001.jpg (GRAPHIC) — 4KB
• igc_logo1.jpg (GRAPHIC) — 3KB
• 0001185185-24-000233.txt ( ) — 236KB
• igc-20240312.xsd (EX-101.SCH) — 3KB
• igc-20240312_def.xml (EX-101.DEF) — 11KB
• igc-20240312_lab.xml (EX-101.LAB) — 21KB
• igc-20240312_pre.xml (EX-101.PRE) — 11KB
• igcpharma20240311_8k_htm.xml (XML) — 3KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers On March 12, 2024, the Board of Directors (the "Board") of IGC Pharma, Inc. (the "Company" or "IGC") appointed Mr. Terry Lierman ("Mr. Lierman") to serve on the Board as a Class B director. Mr. Lierman will serve as an independent Class B director until the Company's 2024 annual meeting of stockholders or upon the election and qualification of successor directors, his earlier death, resignation, or removal. At the 2024 stockholders meeting, the Company plans to nominate him for election, and, if elected, he will serve for three years until the 2027 annual meeting. Based on the director independence listing standards of the New York Stock Exchange and the Company's Corporate Governance Guidelines, the Board affirmatively determined that Mr. Lierman is independent. There is no arrangement or understanding pursuant to which Mr. Lierman is appointed to the Board, and there are no related party transactions between the Company and Mr. Lierman that would require disclosure under Item 404(a) of Regulation S-K. Mr. Lierman's compensation is consistent with the Company's standard compensation for non-employee directors. As a new independent director, Mr. Lierman is granted options to buy 150,000 shares of the Company's common stock at an exercise price of $0.30 per share with an expiration of 10 years. The vesting schedule of the options is 50,000 vesting immediately, and the remaining 100,000 options vesting in equal installments in 2025 and 2026. In addition, the Company entered into a Board of Directors Agreement with Mr. Lierman in connection with his appointment to the Board, the form of which is filed herewith.

01

Item 7.01 Regulation FD Disclosure. On March 12, 2024, the Company issued a press release announcing Mr. Lierman's appointment to the Board as discussed in Item 5.02 of this Current Report on Form 8-K. A copy of this press release is furnished as Exhibit 99.1 and is incorporated by reference herein. The information contained in this Item 7.01 of this Current Report on Form 8-K, including the Exhibit 99.1 attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 IGC Board of Directors Agreement Form* 99.1 Press release issued by IGC Pharma, Inc. on March 12, 2024.* 104 Cover Page Interactive Data File (formatted as Inline XBRL) * Filed herewith.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. IGC PHARMA, INC. Dated: March 12, 2024 By: /s/ Claudia Grimaldi Name: Claudia Grimaldi Title: Vice President and PFO

View Full Filing

View this 8-K filing on SEC EDGAR