Inmed Pharmaceuticals Inc - INM STOCK NEWS

InMed Pharmaceuticals (NASDAQ: INM) has announced the selection of an intravitreal (IVT) formulation for INM-089 as a drug candidate for treating dry age-related macular degeneration (AMD). The company has achieved successful delivery of the formulation at doses up to 10 times the projected therapeutic level, demonstrating a favorable pharmacokinetic profile and significant safety margin.

The company has completed dose-ranging in vivo studies, which will guide the selection of appropriate doses for pivotal preclinical toxicology studies. The INM-089 IVT formulation will proceed to GLP-enabling studies and subsequent clinical development stages. InMed chose intravitreal injection as the delivery method, noting it's the established standard of care among retinal specialists, particularly given the challenges of delivering lipophilic drugs through topical formulations like eye drops.

InMed Pharmaceuticals (NASDAQ: INM) has been granted its first international Patent Cooperation Treaty (PCT) patent in Mexico for novel cannabinoid analog compounds. The patent, titled 'Cannabinoid analogs and methods for their preparation', has a 20-year term and covers therapeutic applications for pain, glaucoma, inflammatory disease, anxiety, and neurological conditions including Parkinson's and Alzheimer's disease.

The patent protects both the compounds and their preparation methods, including drug candidates for Alzheimer's disease and dry age-related macular degeneration programs. The PCT application is pending in several additional jurisdictions including the U.S., Europe, and Japan. InMed currently maintains 14 patent families covering compositions, formulations, manufacturing processes, and methods of use.

InMed Pharmaceuticals (NASDAQ: INM) has announced positive results from a long-term preclinical Alzheimer's Disease study of INM-901. The drug candidate demonstrated significant reductions in several neuroinflammation markers:

- Dose-dependent and statistically significant reduction in plasma pro-inflammatory cytokines (TNF-α, IL-1β, INF-γ)
- Significant reduction in neurofilament light chain (NfL), a neurodegeneration biomarker
- Reduced expression of key neuroinflammatory genes (GFAP, CD-33, TLR-2) in the brain

INM-901's key characteristics include oral administration capability, demonstrated neuroprotective effects through CB1/CB2 receptor activation, and impact on PPARs. The company is conducting additional analyses focusing on receptor engagement levels, neuritogenesis, and neuroprotection, with results expected in the coming weeks.

InMed Pharmaceuticals (NASDAQ: INM) held its 2024 annual general meeting on December 18, where shareholders voted on key matters. 39.83% of the company's 13,353,431 outstanding shares were represented at the meeting. Four director nominees were approved, while Ms. Janet Grove's election was withheld with 55.74% votes against. In accordance with the Company's Majority Voting Policy, Ms. Grove has offered her resignation, which will be reviewed by the Nominating & Governance Committee. Shareholders also approved Marcum LLP (now CBIZ LLP) as the company's auditors for the following year.

InMed Pharmaceuticals (NASDAQ: INM) has entered into a Standby Equity Purchase Agreement (SEPA) with YA II PN, , managed by Yorkville Advisors Global LP, on December 13, 2024. The agreement allows InMed to sell up to $10 million of common shares over a 36-month period.

The shares will be priced at 97% of the Market Price during a specified three-day pricing period. The total shares issuable are to 19.99% of outstanding shares as of the effective date, and the Investor's beneficial ownership cannot exceed 9.99%. InMed maintains the right to set minimum acceptable prices for share issuances.

InMed Pharmaceuticals (NASDAQ: INM) has published a peer-reviewed study in Biofactors demonstrating cannabinol's (CBN) anti-inflammatory effects and its potential for treating skin diseases. The research, conducted with Dr. Mauro Maccarrone, shows that CBN prevents keratinocyte inflammation through various mechanisms, including TRPV1 receptor activation and modulation of endocannabinoid system elements. The study revealed CBN's ability to reduce pro-inflammatory cytokines while increasing anti-inflammatory ones, supporting its therapeutic potential for conditions like psoriasis, atopic dermatitis, and pruritus.

InMed Pharmaceuticals (NASDAQ: INM) reported Q1 fiscal 2025 results with notable progress in pharmaceutical programs. BayMedica commercial business generated revenues of $1.3M, a 40% increase from last year, with net income of $0.3M. Research and development expenses decreased to $0.8M from $1.3M year-over-year. The company's cash position was $5.6M as of September 30, 2024.

Key developments include positive behavioral data from INM-901 Alzheimer's treatment candidate's long-term preclinical studies and implementation of a reverse stock split to maintain Nasdaq compliance. The company expects current cash to fund operations through Q1 2025.

InMed Pharmaceuticals (NASDAQ: INM) has announced a 1-for-20 share consolidation to regain compliance with Nasdaq's listing requirements. The consolidation will reduce outstanding shares from 14,361,550 to approximately 718,078 common shares. The post-consolidation shares are expected to begin trading on Nasdaq Capital Market on November 15, 2024. The trading symbol 'INM' will remain unchanged. Exercise prices and number of shares for outstanding options, warrants, and convertible securities will be adjusted proportionally. No fractional shares will be issued, with fractions less than half being cancelled and those half or greater rounded up.

InMed Pharmaceuticals (NASDAQ: INM) has received approval from the Nasdaq Listing Qualifications Panel for an exception until December 2, 2024, to implement a share consolidation to meet listing requirements. The company must achieve a minimum $1.00 bid price for ten consecutive trading days by this date. The Board has approved a 20:1 share consolidation, which will reduce outstanding shares from 14,361,550 to approximately 718,078. This consolidation aims to maintain Nasdaq listing compliance while preserving shareholders' proportional ownership. The consolidation will adjust all outstanding securities, including options and warrants, proportionally.