IGC Pharma, Inc. (IGC)

[Smilin_B]

IGC performed a successful capital raise of $30,000,000 back in September at a price of $5.30/share

IGC finds itself with $27M in cash as of the last quarter's report and a book value of about $0.92 per share. The capital raise was significant given the company's size and, if maintaining the recent burn rate, could potentially fund IGC's losses for years. Together, the book value and the cash position could provide support for the stock price.

So yes, absolutely I can see IGC share price accelerating to at least the $5/share area over the short term, and to $10/share based upon their cash position alone.

IGC is NYSE American listed, and I'd imagine the folks that purchased their shares at $5.30/share are going to want this substantially higher and will be putting the pressure on Ram Makunda to get it there

All in my opinion