Inmed Pharmaceuticals Inc Stock Price, News & Analysis

InMed Pharmaceuticals has filed Clinical Trial Applications (CTAs) for its Phase 2 trial of INM-755 cream to treat Epidermolysis Bullosa (EB) in Austria, Israel, and Serbia. Further submissions are planned in France, Germany, Greece, and Italy. The company expects to begin the study in 3Q 2021, aiming to enroll up to 20 patients at 10 clinical sites within 10-12 months. Preliminary efficacy will be evaluated over 28 days. Results are anticipated in the latter half of 2022, contingent on regulatory approvals.

InMed Pharmaceuticals Inc. announces the voluntary delisting of its common shares from the Toronto Stock Exchange (TSX) while maintaining its listing on the Nasdaq. This decision comes as trading volume on the TSX no longer justifies the costs associated with dual listing. InMed’s shares have primarily traded on Nasdaq, accounting for approximately 86% of trading volume since November 2020. The anticipated delisting from the TSX will occur around May 7, 2021, with Canadian shareholders able to trade their shares on Nasdaq through their brokers.

InMed Pharmaceuticals has achieved a cannabinoid yield of 2g/L via its IntegraSyn™ manufacturing approach, marking a significant milestone towards commercial viability. The company aims to scale up production for pharmaceutical-grade cannabinoids and optimize manufacturing costs. InMed plans to produce a one-kilogram batch in the second half of 2021. They are also preparing for Good Manufacturing Practice (GMP) certification. This achievement positions InMed for potential advancements in cannabinoid-based pharmaceutical drugs.

InMed Pharmaceuticals has announced participation in two investor conferences in March 2021. Eric A. Adams, President and CEO, will present at the H.C. Wainwright Global Life Sciences Conference from March 9-10, with an on-demand presentation available starting March 9 at 7 AM EST. Additionally, he will engage in a Fireside Chat at the 33rd Annual ROTH Conference on March 15 at 4:30 PM EST. InMed is focused on developing cannabinoid-based pharmaceutical candidates, specifically targeting unmet medical needs through cannabinol (CBN).

InMed Pharmaceuticals has completed a private placement, raising approximately US$4.0 million in net proceeds by selling 1,050,000 units at US$4.25 per unit. Each unit consists of one common share and 0.66 of a warrant with an exercise price of US$4.85.

The funds will be used for working capital purposes. InMed plans to file a registration statement with the SEC within 30 days for the common shares and warrants issued, although these securities have not been registered under the Securities Act.

InMed Pharmaceuticals, a clinical-stage pharmaceutical company, has successfully closed a private placement raising approximately US$4.0 million. A total of 1,050,000 units were sold at US$4.25 per unit, each unit comprising one common share and 0.66 of a warrant. The warrants have an exercise price of US$4.85 and are exercisable six months post-issuance. InMed will use the proceeds for working capital. The securities issued will not be registered under the Securities Act, and InMed is set to file a registration statement with the SEC within 30 days.

InMed Pharmaceuticals reported its fiscal Q2 2021 financial results, highlighting a net loss of $2.2 million, down from $2.5 million a year ago. The company achieved significant milestones for its INM-755 program, targeting Epidermolysis Bullosa, demonstrating safety and tolerability in Phase 1 trials. Cash reserves improved to $10.1 million, up from $4.5 million in September 2020, following an $8 million public offering. InMed also entered a licensing agreement for ocular drug delivery technology aimed at glaucoma treatment.

InMed Pharmaceuticals reported its second quarter fiscal 2021 financial results, ending December 31, 2020. The company achieved critical milestones in its drug development, particularly for INM-755 aimed at Epidermolysis Bullosa, with upcoming Phase 2 trials planned. It secured a worldwide license for ocular drug delivery technology, MiDROPS®, enhancing its research pipeline. Financially, InMed raised about $12.5 million through recent offerings and recorded a net loss of $2.2 million in Q2 2021, an improvement from $2.5 million in Q2 2020.

InMed Pharmaceuticals Inc. (NASDAQ: INM) will report its financial results for the second quarter of fiscal year 2021, ending December 31, 2020, on February 11, 2021. A conference call and webcast will occur at 8:30 AM Pacific Time. The company is focused on developing cannabinoid-based medications, particularly targeting the therapeutic benefits of cannabinol (CBN). Full financial statements will be accessible on their website and regulatory authorities after the announcement.