InMed Announces Results of 2025 Annual General and Special Meeting

Rhea-AI Summary

InMed Pharmaceuticals (NASDAQ: INM) reported results from its annual general and special meeting held December 17, 2025.

A total of 993,491 common shares (≈35.43% of 2,804,186 outstanding) were represented. All five director nominees were elected with roughly 81.9%–82.1% votes for. Shareholders approved CBIZ CPAs P.C. as auditors and approved the potential issuance of 20% or more of common shares under the amended Standby Equity Purchase Agreement with YA II PN, Ltd. The company filed the voting results on SEDAR+ on December 17, 2025.

Positive

• Director slate elected with ~82% shareholder support
• Shareholders approved CBIZ CPAs P.C. as auditors
• Authorization to issue ≥20% of shares under SEPA preserved

Negative

• 20%+ potential issuance creates clear dilution risk for holders
• Only 35.43% of issued shares were represented at the meeting

Key Figures

Shares represented 993,491 shares Common shares present in person or by proxy at the Meeting

Participation rate 35.43% Portion of 2,804,186 issued and outstanding common shares

Shares outstanding 2,804,186 shares Issued and outstanding common shares referenced for the Meeting

Potential issuance 20% or more Approval under SEPA relative to Dec 13, 2024 share count

Votes for Eric A. Adams 82.03% Support level for director election at the Meeting

Votes for Andrew Hull 82.00% Support level for director election at the Meeting

Votes for Nicole Lemerond 82.11% Support level for director election at the Meeting

Votes for Neil Klompas 82.09% Support level for director election at the Meeting

Market Reality Check

$1.12 Last Close

Volume Volume 150,270 vs 20-day average 765,834 (relative volume 0.2 before this news). low

Technical Shares at $1.20, trading below 200-day MA of $2.36 ahead of the AGM results.

Peers on Argus 2 Up 1 Down

Pre-news, INM traded at $1.20 with a -8.75% daily change while momentum data flagged 2 sector peers moving up (median move in that group 6.1%), suggesting broader biotech trading dynamics alongside company-specific factors.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 12	Regulatory risk update	Neutral	+2.9%	Outlined potential negative impact of H.R. 5371 on BayMedica operations.
Nov 06	Quarterly earnings	Negative	-1.4%	Reported lower BayMedica revenue, cash drawdown, and ongoing net loss.
Oct 16	Board appointment	Positive	-5.5%	Added experienced director John Bathery with extensive deal track record.
Oct 09	Board appointment	Positive	-4.5%	Appointed Neil Klompas, bringing capital-markets and biotech leadership expertise.
Sep 23	Full-year earnings	Positive	-5.7%	Reported revenue growth, cash runway into Q4 2026, and pipeline progress.

Pattern Detected

Recent history shows several positive or strategic updates followed by negative price reactions, especially around management changes and full-year results.

Recent Company History

Over the last few months, InMed reported FY2025 results on Sep 23, highlighting $4.9M revenue and pipeline progress, yet the stock fell the next day. Subsequent management additions on Oct 9 and Oct 16 were also followed by declines. Q1 FY2026 results on Nov 6 brought modest pressure, while a BayMedica regulatory risk update on Dec 12 saw a small gain. Today’s AGM outcome continues this governance and capital-structure narrative.

Market Pulse Summary

The stock moved -8.8% in the session following this news. A negative reaction despite routine AGM approvals would fit a pattern where governance or financing developments are viewed cautiously. While all directors received over 82% support and auditors were ratified, the authorization for potential issuance of 20% or more of outstanding shares under the SEPA may have raised dilution concerns. Past events, including earnings and board changes, often coincided with downside moves, highlighting sensitivity around capital structure and strategy updates.

Key Terms

standby equity purchase agreement financial

"pursuant to the Standby Equity Purchase Agreement with YA II PN, Ltd."

A standby equity purchase agreement is a contract in which an investor or group agrees to buy a company’s newly issued shares on demand, giving the company a ready source of cash it can tap when needed. Think of it like a line of credit made with stock instead of a loan: it provides financial backup but can increase the number of shares outstanding, diluting existing owners and affecting per‑share value, so investors watch these deals for their impact on ownership and earnings per share.

nasdaq listing rules 5635(d) and 5635(b) regulatory

"pursuant to Nasdaq Listing Rules 5635(d) and 5635(b) (the "SEPA")"

Nasdaq listing rules 5635(b) and 5635(d) are standards that require a company to get shareholder approval before issuing a large number of new shares or giving stock to people closely tied to the company. Think of it like asking neighbors to approve a major home addition: these rules prevent a small group from diluting existing owners’ stake or approving favorable deals for insiders without broader shareholder consent, which matters to investors because it protects ownership value and fairness.

sedar+ regulatory

"InMed filed a report of voting results on SEDAR+ at www.sedarplus.ca"

SEDAR+ is Canada’s centralized online system where publicly traded companies submit required regulatory documents such as financial reports, prospectuses and disclosure statements. It gives investors a single, searchable place — like a public library or online filing cabinet — to check a company’s official records for transparency, compare performance, and verify material information before making investment decisions.

AI-generated analysis. Not financial advice.

Vancouver, British Columbia--(Newsfile Corp. - December 17, 2025) - InMed Pharmaceuticals Inc. (NASDAQ: INM) ("InMed" or the "Company"), a pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates for diseases with high unmet medical needs, today confirmed that, at its annual general and special meeting of shareholders held on December 17, 2025 (the "Meeting"), the matters put forward before shareholders for consideration and approval as set out in InMed's notice of meeting and management information circular, dated November 3, 2025, were voted upon by the shareholders. A total of 993,491 common shares of the Company, representing approximately 35.43% of the Company's 2,804,186 issued and outstanding common shares, were represented in person or by proxy at the Meeting.

Results of the vote for the election of the board of directors (the "Board") at the Meeting are set out as follows:

Director	Votes For		Withheld Votes
	Number	Percentage	Number	Percentage
Eric A. Adams	125,352	82.03%	27,469	17.98%
Andrew Hull	125,315	82.00%	27,506	18.00%
Nicole Lemerond	125,485	82.11%	27,336	17.89%
Neil Klompas	125,444	82.09%	27,377	17.91%
John Bathery	125,227	81.94%	27,594	18.06%

 

In addition, shareholders voted to approve CBIZ CPAs P.C. as the Company's auditors for the following year.

Shareholders also voted to approve the potential issuance of 20% or more of the Company's common shares issued and outstanding as of December 13, 2024, pursuant to the Standby Equity Purchase Agreement with YA II PN, Ltd., as amended on June 13, 2025, pursuant to Nasdaq Listing Rules 5635(d) and 5635(b) (the "SEPA").

InMed filed a report of voting results on SEDAR+ at www.sedarplus.ca on December 17, 2025.

About InMed:

InMed Pharmaceuticals is a pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates targeting the CB1/CB2 receptors. InMed's pipeline consists of three separate programs in the treatment of Alzheimer's, ocular and dermatological indications. For more information, visit www.inmedpharma.com.

Investor Contact:

Colin Clancy
Vice President, Investor Relations
and Corporate Communications
T: +1 604 416 0999
E: ir@inmedpharma.com

Cautionary Note Regarding Forward-Looking Information:

This news release, and oral statements by the Company and its executive officers and directors, contain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "potential", "possible", "would" and similar expressions. Such statements, based as they are on current expectations of management, inherently involve numerous risks, uncertainties and assumptions, known and unknown, many of which are beyond our control. Forward-looking information is based on management's current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Without limiting the foregoing, forward-looking information includes, but is not limited to, statements about H.R. 5371, the "Continuing Appropriations, Agriculture, Legislative Branch, Military Construction and Veterans Affairs, and Extensions Act, 2026" (the "Act"), the impact of the Act on BayMedica Inc., any potential modifications to the Act and/or the timing thereof and the alternative options available to BayMedica and the Company, statements about developing a pipeline of proprietary small molecule drug candidates for diseases with high unmet medical needs, and statements about the potential issuance of common shares pursuant to the SEPA.

Additionally, there are known and unknown risk factors which could cause InMed's actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. A complete discussion of the risks and uncertainties facing InMed's business is disclosed in InMed's Annual Report on Form 10-K, and its Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and any other documents filed or furnished with the Securities and Exchange Commission available on www.sec.gov.

All forward-looking information herein is qualified in its entirety by this cautionary statement, and InMed disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278446

FAQ

How many InMed (INM) shares were represented at the December 17, 2025 meeting?

A total of 993,491 shares, or approximately 35.43% of 2,804,186 outstanding, were represented.

What were the vote results for InMed (INM) director elections on December 17, 2025?

All five directors were elected with roughly 81.9%–82.1% of votes cast in favour.

Did InMed (INM) approve its auditors at the December 17, 2025 meeting?

Yes. Shareholders approved CBIZ CPAs P.C. as the company's auditors for the following year.

What did InMed (INM) approve regarding the Standby Equity Purchase Agreement (SEPA)?

Shareholders approved the potential issuance of 20% or more of common shares under the amended SEPA with YA II PN, Ltd.

When were InMed (INM) voting results filed and where can investors find them?

The company filed the voting results on SEDAR+ on December 17, 2025.

What is the investor impact of approving a 20%+ issuance for InMed (INM)?

Approval enables access to the SEPA facility but could cause material dilution if fully drawn.