Inmed Pharmaceuticals Inc Stock Price, News & Analysis

InMed Pharmaceuticals (Nasdaq: INM) has announced that its President and CEO Eric A. Adams, along with Dr. Eric Hsu, will present at the H.C. Wainwright Ophthalmology Virtual Conference on August 17, 2021. The presentation will focus on InMed’s ocular program and the development of INM-088, a topical eye drop formulation aimed at treating glaucoma. INM-088 utilizes cannabinol (CBN) as its active ingredient, which has shown potential benefits in neuroprotection and reducing intraocular pressure. The presentation will be accessible at 7:00 a.m. ET on the same day.

InMed Pharmaceuticals (Nasdaq: INM) has successfully closed a private placement, raising approximately US$11 million. The placement involved 4,036,327 common shares sold at an effective price of US$2.973 per share and accompanying warrants priced at US$2.848. Funds will support pipeline and business development. The company must file a registration statement with the SEC within ten days. These securities are unregistered and may not be resold in the U.S. without proper registration or exemption.

On June 29, 2021, InMed Pharmaceuticals (Nasdaq: INM) announced a non-binding letter of intent to acquire BayMedica, a revenue-stage biotechnology company specializing in rare cannabinoids. The transaction involves issuing 1.6 million InMed common shares to BayMedica's equity and debt holders, with certain shares held in escrow for indemnification claims. With BayMedica's expertise in synthetic biology, InMed aims to create a leading rare cannabinoid company, leveraging both companies' technologies to enhance product offerings in the health and wellness sector.

InMed Pharmaceuticals Inc. (Nasdaq: INM) announced a securities purchase agreement with an institutional investor to raise approximately US$12.0 million. This will involve issuing 4,036,327 common shares at an effective purchase price of US$2.973 per share and warrants for the same amount. The private placement is set to close around July 2, 2021. The company plans to utilize the net proceeds for pipeline development, business activities, and general working capital. H.C. Wainwright & Co. is the exclusive placement agent for this offering.

InMed Pharmaceuticals Inc. (Nasdaq: INM) announced a significant milestone in cannabinoid production, achieving a yield of 5 g/L with its IntegraSyn™ manufacturing process. This yield notably surpasses previous levels of 2 g/L and the industry average, significantly reducing manufacturing costs. The company plans to advance to large-scale, GMP-ready batch production later in 2021. The achievement is a collaborative effort with Almac Sciences, enhancing InMed's prospects as a provider of pharmaceutical-grade cannabinoids.

InMed Pharmaceuticals (Nasdaq: INM) announced that President and CEO Eric A. Adams will present at the virtual 2021 BIO Digital conference from June 10-11 and June 14-18. The presentation will cover the company's latest advancements, including the IntegraSyn™ cannabinoid manufacturing system and the Phase 2 clinical development of INM-755, a cannabinol cream for epidermolysis bullosa. Attendees can access the presentation starting at 9 am ET on June 10. Additionally, Adams and CFO Bruce Colwill will hold meetings via the BIO One-on-One Partnering™ system from June 14.

InMed Pharmaceuticals (NASDAQ: INM) reported its financial results for 3Q21, ending March 31, 2021. The company achieved significant milestones in its INM-755 therapeutic program for Epidermolysis Bullosa, filing Clinical Trial Applications in several countries. InMed's IntegraSyn manufacturing process reached a commercially viable cannabinoid yield of 2g/L, supporting large-scale production plans. Despite a net loss of $3.1 million for the quarter, cash reserves increased to $9.5 million. The company delisted from the TSX while maintaining its Nasdaq listing.

InMed Pharmaceuticals Inc. (NASDAQ:INM) will report its financial results for Q3 FY2021 on May 13, 2021. This quarter ended on March 31, 2021. The Company is focused on the development of cannabinoid-based drug candidates, particularly cannabinol (CBN), aimed at addressing high unmet medical needs. A conference call and webcast will occur on the same day at 8:00 AM PT / 11:00 AM ET, with a replay available for 90 days. Full financials will be accessible on InMed's official website as well as SEDAR and SEC platforms.

On May 4, 2021, InMed Pharmaceuticals (Nasdaq: INM; TSX:IN) announced that Eric A. Adams, President and CEO, will present at Canaccord Genuity’s 5th Annual Global Cannabis Conference on May 11, 2021. The presentation is scheduled for 2:30-2:55 PM EDT and can be accessed virtually. Eric A. Adams and CFO Bruce Colwill will also engage in one-on-one meetings with institutional investors during the conference. InMed focuses on developing cannabinoid-based pharmaceutical candidates, particularly cannabinol (CBN), targeting unmet medical needs.