Massive 69.4% Surge for IGC Pharma in After-Hours Trading: Here's Why
IGC Pharma Inc (NYSE:IGC) witnessed a surge of 69.40% in its stock value during after-hours trading on Wednesday.
What Happened: The stock of IGC Pharma, a company involved in the development of cannabinoid-based therapies for Alzheimer‘s disease, rose by 69.40% to $0.62. This surge followed the closing price of $0.37 on Wednesday.
IGC Pharma’s stock has been on a rollercoaster ride recently. The company’s stock value had dropped to $0.32 on Tuesday, but it has now rebounded in after-hours trading.
Why It Matters: IGC Pharma has been making significant strides in its field. In June, the company highlighted its fiscal year 2025 with clinical progress and Alzheimer’s drug development advances. This included the presentation of a scientific poster titled “Genetic Toxicity Evaluation Of Melatonin In The Bacterial Reverse Mutation Assay,” at the 2025 Genetic Toxicology Association Annual Meeting.
IGC Pharma also beat analyst estimates in its fourth-quarter earnings, reporting an earnings per share of $(0.01) and sales of $330 million, which beat the $305 million estimate.
Earlier in July, IGC Pharma was also listed among the top health care stocks that were moving in the after-market session. This indicates that the company has been attracting investor attention.
Price Action: IGC Pharma shares closed the Wednesday market session 14.02% higher at $0.37 per share- Benzinga Pro Data
Benzinga Edge Stock Rankings shows IGC stock has Momentum in the 20th percentile. Additional performance details are available here.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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