InMed Pharmaceuticals Regains Compliance with Nasdaq Continued Listing Requirements
Rhea-AI Summary
InMed Pharmaceuticals (NASDAQ: INM) announced it has regained compliance with Nasdaq Listing Rule 5550(a)(2), the minimum bid price requirement for continued listing. Nasdaq confirmed INM’s shares closed at or above $1.00 for 10 consecutive business days from May 19 to June 2, 2026, closing the matter.
AI-generated analysis. Not financial advice.
Positive
- Regained compliance with Nasdaq minimum bid price rule 5550(a)(2)
- Maintained closing bid at or above $1.00 for 10 consecutive business days
- Nasdaq has formally closed the minimum bid price compliance matter
Negative
- Previously failed to maintain $1.00 minimum bid price for 30 consecutive business days as of March 27, 2026
Key Figures
Market Reality Check
Peers on Argus
Scanner data flags a sector move with 2 peers up and 2 down. INM was up 4.61% while peers in momentum showed mixed moves (summary notes 2 peers moving down with median move -2.6%), indicating broader pharma dynamics alongside company-specific compliance news.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| May 19 | Merger & financing | Positive | +135.1% | All-stock Mentari merger plus US$290M private placement for migraine pipeline. |
| May 19 | Merger correction | Positive | +135.1% | Corrective release reiterating Mentari merger terms and financing timeline. |
| May 19 | Option amendment | Negative | +135.1% | Armistice preferred options repriced from $16.60 to $0.80 per share. |
| May 06 | Q3 FY26 earnings | Negative | -4.1% | Net loss, no continuing-ops revenue, and BayMedica wind-down highlighted. |
| Apr 27 | Option repricing | Negative | -4.3% | Sabby and Wainwright options significantly repriced down to $0.80 per share. |
Across the last five material events, price reactions have consistently aligned with the underlying news tone, including a large positive move on the Mentari merger and negative reactions to option repricings and earnings.
Recent news shows InMed undergoing major strategic and capital structure changes. On May 19, 2026, an all‑stock merger with Mentari and an oversubscribed US$290 million private placement drove a 135.05% move, alongside amendments to investment options. Earlier, Q3 FY26 results on May 6, 2026 highlighted a $3.0M net loss and wind‑down of BayMedica, with shares down 4.13%. Option repricing on April 27, 2026 also saw a -4.31% reaction. Today’s Nasdaq compliance update fits into this broader restructuring and listing-maintenance backdrop.
Regulatory & Risk Context
An effective Form S-3 shelf filed on March 20, 2026 allows InMed to offer up to $50,000,000 of securities in multiple formats, with at least one usage via a 424B5 on April 3, 2026. This provides substantial capital-raising flexibility alongside Nasdaq compliance.
Market Pulse Summary
This announcement confirms InMed has met Nasdaq’s $1.00 minimum bid requirement for 10 consecutive days, closing a deficiency notice initiated after 30 days below that level. In context of recent transformational events—the Mentari merger, large private placement, and an effective $50,000,000 shelf—maintaining listing status is important for continued access to capital markets. Investors may watch future financing activity and progress on the combined pipeline alongside ongoing listing compliance.
Key Terms
minimum bid price requirement regulatory
continued listing regulatory
AI-generated analysis. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - June 4, 2026) - InMed Pharmaceuticals Inc. (NASDAQ: INM) ("InMed" or the "Company"), today announce that it had received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") on June 3, 2026 informing the Company that it has regained compliance with Nasdaq Listing Rule 5550(a)(2), the minimum bid price requirement for continued listing on Nasdaq.
As previously disclosed, the Company was notified by Nasdaq on March 27, 2026 that its common shares had failed to maintain a minimum bid price of
About InMed Pharmaceuticals
InMed 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 contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. 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 in this news release includes, but is not limited to, statements about the Company's ability to maintain compliance with Nasdaq Listing Rule 5550(a)(2), the minimum bid price requirement for continued listing on Nasdaq, in the future.
With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions regarding, among other things: the ability to maintain the minimum bid price of the Company's common shares at or above
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company 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/300271