Inmed Pharmaceuticals Inc Stock Price, News & Analysis

On November 3, 2021, InMed Pharmaceuticals (Nasdaq: INM) announced the filing of an international patent application related to a rare cannabinoid aimed at treating neurodegenerative diseases, including Alzheimer’s and Parkinson’s. The patent demonstrates neuroprotection and enhances neuronal function. This application expands InMed's patent portfolio, now including twelve patent families, strengthening its strategy in rare cannabinoid pharmaceutical development.

InMed Pharmaceuticals Inc. (Nasdaq: INM) has successfully completed its acquisition of BayMedica Inc., specializing in rare cannabinoids for health and wellness. The acquisition includes the issuance of 2.05 million InMed common shares and a cash component of $1 million, with a six-month hold period. This strategic move aims to enhance InMed's pharmaceutical drug development and manufacturing capabilities, positioning it as a leader in the cannabinoid market. InMed plans to integrate BayMedica's expertise and accelerate revenue growth through new product launches in the consumer health sector.

InMed Pharmaceuticals (Nasdaq: INM) has initiated its Phase 2 clinical trial for INM-755, a cannabinol cream, targeting the treatment of Epidermolysis Bullosa (EB). This trial comprises 20 patients across 11 sites in seven countries, with initial patient screening commencing in Austria. Previous studies indicate INM-755 may effectively alleviate EB symptoms. This milestone reinforces InMed's commitment to developing cannabinoid therapies, with further advancements in glaucoma treatments anticipated in the near future.

InMed Pharmaceuticals (Nasdaq: INM) announced its fiscal year 2021 results, reporting a net loss of $10.2 million, or $1.52 per share, compared to a loss of $8.9 million, or $1.71 per share in FY2020.

The company achieved a 5 g/L cannabinoid yield with its IntegraSyn™ process and is set to acquire BayMedica Inc. to enhance its rare cannabinoid manufacturing capabilities. Additionally, clinical trials for INM-755 for epidermolysis bullosa are underway, with patient enrollment expected soon.

InMed Pharmaceuticals has announced a definitive agreement to acquire BayMedica in an all-stock transaction valued at approximately US$4m. InMed will issue 1.78 million shares to BayMedica's equity and convertible debt holders. The acquisition aims to enhance expertise in cannabinoid manufacturing and commercialization, with a combined revenue exceeding US$2.5m since December 2019. Additionally, InMed's valuation has increased to US$242m or US$20.03 per share, despite a decrease in per-share value due to a higher share count.

InMed Pharmaceuticals Inc. (Nasdaq: INM) will announce its financial results for the fiscal year ending June 30, 2021, on September 24, 2021. The Company is focused on the development of rare cannabinoid pharmaceuticals, particularly cannabinol (CBN), and utilizes its proprietary IntegraSyn™ technology to produce pharmaceutical-grade cannabinoids. A conference call will occur at 8:00 AM PT, with access details provided for participants. Full financial statements and the MD&A will be available on the Company's website and SEDAR after the results are released.

InMed Pharmaceuticals (Nasdaq: INM) has announced its participation in Tribe Public’s webinar titled “Accelerating The Commercialization of Rare Cannabinoids,” featuring CEO Eric A. Adams and BayMedica Co-Founder Shane Johnson on September 21, 2021, at 8:30 AM Pacific. This follows InMed's acquisition agreement for BayMedica, enhancing its position in rare cannabinoid manufacturing and pharmaceutical development. The merger is expected to close in the coming weeks, positioning InMed as a global leader in this sector.

InMed Pharmaceuticals (Nasdaq: INM) has announced a definitive agreement to acquire BayMedica, a US-based manufacturer of rare cannabinoids. This acquisition will establish InMed as a leader in cannabinoid manufacturing and commercialization, enabling it to tap into a growing consumer health market. The transaction is expected to close soon and positions InMed to generate revenue through BayMedica’s established products. BayMedica’s Prodiol® CBC has exceeded $2.5 million in cumulative sales since its launch in December 2019, and the combined company aims to significantly increase revenues in the near term.

InMed Pharmaceuticals Inc. (Nasdaq: INM) announced that President and CEO Eric A. Adams will present at the H.C. Wainwright 23rd Annual Global Investment Conference, scheduled for September 13-15, 2021. The presentation will be available on-demand from 1:00 PM ET on September 13 via the H.C. Wainwright events platform. An archived version will be accessible on the company's website for 90 days following the event. InMed's management is also engaging with institutional investors throughout the conference.