IGC Pharma Announces Q3 2024 Earnings: Strategic Patent Achievements Propel Forward Amid Losses

IGC Pharma Inc (AMEX:IGC), a pharmaceutical company based in Maryland, announced its financial results for the third quarter of fiscal year 2024 ending December 31st, 2023. 

The period was marked by significant intellectual property milestones, yet reflected a mixed financial performance with a notable net loss and a decrease in quarterly revenue.

Q3 2024 Financial Highlights

Revenue was $204 thousand, a 38% decline from the $332 thousand reported in the same period last year.
Net loss was $5.59 million or $0.09 per share, compared to approximately $2.25 million or $0.04 per share from Q3 2022.
Adjusted EBITDA was not included in the earnings report.
Gross profit was $133 thousand, increasing from the $102 thousand …

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