NEW YORK, NY / ACCESSWIRE / August 23, 2018 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced it has issued an update on India Globalization Capital, Inc. (NYSE American: IGC) with a target price to $2.00.
The report is available here: August 2018 Update Note.
India Globalization Capital, Inc. (''IGC'') has developed a patent-pending cannabis-based combination therapy to treat end points of Alzheimer's including plaques, tangles, anxiety, agitation and other NPS. IGC is preparing to launch Hyalolex™ its lead cannabis-based supplement for treating and managing Alzheimer's patients, which it plans to market through U.S. and Canadian medical dispensaries and clinics in coming months. IGC's pipeline also includes cannabis-based medications for end points of Parkinson's, pain, nausea, eating disorders and epilepsy in cats and dogs. The company is also working on leveraging its expertise to develop blockchain technology based solutions for the cannabis market. IGC has a legacy business based in India, through which it is engaged in infrastructure and commodity trading, and in Malaysia it is engaged in real-estate management. IGC's registered US office is located in Bethesda, Maryland. The company maintains an R&D center in Washington State, and also has a back office in Kochi, Kerala India.
IGC transitioning from development to commercialization beginning with Hyalolex™ for Alzheimer's disease
We are updating our coverage of IGC as the company begins the transition in its medical cannabis product line from development to commercialization. The company is in the process of initiating go-to-market activities for Hyalolex™, a cannabis-based supplement for treating and managing patients with Alzheimer's disease. We note that Alzheimer's disease represents a large potential market opportunity for IGC. There are over 5.5mn people living in the US with Alzheimer's, and 44mn worldwide. The disease has an estimated annual economic cost of $236 billion.
In terms of the timing of its go-to-market strategy, IGC management has already begun establishing relationships with distributors, and expects to market Hyalolex™ directly to caregivers and patients, as well as through dispensary channels. In an announcement by CEO Ram Mukunda on August 14, IGC emphasized that California, which has a population of 39.5mn, would be the company's priority market. The company expects to have a commercial presence in at least four markets by the end of the year, including California, Maryland, and Puerto Rico. Other markets planned for launch include Oregon and Washington State. We expect initial market and distribution announcements in coming months, with revenues beginning to scale in 2019.
IGC continuing to develop blockchain, pharmaceutical grade formulations
We note that while IGC management is focused on the launch of the Hyalolex™ supplement, that the company will continue to advance its previously announced solution to utilize blockchain technology to address industry issues specific to the medical cannabis industry, as well as a Phase 2b clinical trial for a pharmaceutical grade formulation of Hyalolex™ for Alzheimer's disease. Some of the issues expected to be addressed by blockchain include product identification assurance (PIA), inadequate product labelling, transactional difficulties, and product origin assurance. We believe the company intends to develop a platform first for Hyaolex's go-to-market strategy in the dispensary market, with an aim to leverage the platform for the highly regulated and rapidly evolving cannabis industry in 2019.
$2.00 price target for IGC
The price target for IGC is $2.00, which reflects recent developments in the company's cannabis business as IGC prepares to launch Hyalolex™. We are also intrigued by the potential application of blockchain technology to the cannabis industry, and anticipate learning more from the company in future periods about this initiative.
Please review important disclosures in the report and on our website at www.seethruequity.com.
About India Globalization Capital, Inc.
IGC has two lines of business, a legacy infrastructure business and a cannabis pharmaceutical business that has developed a lead product for Alzheimer's patients. The Company recently announced that it is working on using blockchain to address issues specific to the cannabis industry that address transactional difficulties, product labeling, product identification assurance (PIA), and product origin assurance (POA). The company is based in Maryland, USA. More information about IGC is available at www.igcinc.us and www.igcpharma.com.
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