Welcome to our dedicated page for Inmed Pharmaceuticals news (Ticker: INM), a resource for investors and traders seeking the latest updates and insights on Inmed Pharmaceuticals stock.
InMed Pharmaceuticals Inc. (NASDAQ: INM) is a pharmaceutical drug development company that regularly issues news and updates about its proprietary small molecule programs and related corporate activities. The company focuses on drug candidates targeting the CB1/CB2 receptors in three main therapeutic areas: Alzheimer’s disease, ocular conditions and dermatological indications, and it also reports on the commercial operations of its rare cannabinoid subsidiary BayMedica.
News about InMed often covers progress in its lead Alzheimer’s program INM-901, including preclinical data, pharmacokinetic studies in animal models and scientific presentations at major conferences such as the Alzheimer’s Association International Conference (AAIC). Releases describe how INM-901 is being evaluated across multiple biological pathways associated with Alzheimer’s disease and summarize findings from long-term studies in established disease models.
Investors and followers of INM can also find updates on INM-089, a proprietary small molecule drug candidate under investigation for dry age-related macular degeneration, including preclinical study results and formulation work for intravitreal delivery. In addition, InMed provides business updates on BayMedica, including sales performance, legislative developments affecting rare, non-intoxicating cannabinoids and the subsidiary’s evaluation of alternative supply chain options to maintain regulatory compliance.
Corporate and capital markets developments are another frequent theme in InMed’s news flow. The company announces private placements, preferred investment option amendments, participation in investor conferences, and changes to its board of directors, as well as the outcomes of its annual general and special meetings of shareholders. For readers tracking INM news, this page offers a centralized view of scientific, commercial, financial and governance announcements directly tied to the company’s disclosed activities.
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.
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.