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 November 24, 2020, InMed Pharmaceuticals confirmed the successful election of its director nominees during the annual general meeting held on November 20, 2020. Shareholders approved all proposed matters, including the election of directors to serve until the next annual meeting. Notable voting percentages include Eric A. Adams with 90.84% and Adam Cutler with 93.01% in favor. InMed is focused on developing cannabinoid-based medications, particularly targeting diseases with high unmet medical needs.
InMed Pharmaceuticals Inc. (NASDAQ:INM) has announced a collaboration with BayMedica Inc. to explore synergies between their technologies for cannabinoid production and therapeutic applications. Under their Collaborative Research Agreement, BayMedica will utilize InMed's IntegraSyn platform for cannabinoid production, while InMed will investigate therapeutic compounds from BayMedica's library. Successful outcomes could lead to technology licensing between the firms. Both companies aim to develop innovative cannabinoid-based medications, targeting diseases with high unmet medical needs.
InMed Pharmaceuticals has successfully closed a public offering raising approximately US$8 million by selling 1,780,000 common shares at US$4.50 per share, paired with warrants at an exercise price of US$5.11. The offering was conducted by Roth Capital Partners, with an option for underwriters to purchase an additional 267,000 shares. The funds will support the development of cannabinoid drug candidates like INM-755 for dermatology and INM-088 for ocular diseases, alongside working capital and manufacturing enhancements.
InMed Pharmaceuticals reported a net loss of $2.1 million or $0.41 per share for the first quarter of fiscal year 2021, a reduction from a $3.4 million loss in the same period last year. Research and development expenses fell to $1.2 million from $2.3 million due to decreased costs for external contractors. Overall cash reserves decreased to $6.1 million as of September 30, 2020, down from $8.0 million at June 30, 2020, largely due to operating cash outflows. The company plans to close announced financing on November 16, 2020.
InMed Pharmaceuticals Inc. (NASDAQ: INM) has announced a public offering of 1,780,000 common shares paired with warrants at a price of US$4.50 per share, aiming for gross proceeds of approximately US$8 million. Each warrant allows for the purchase of one common share at an exercise price of US$5.11, expiring six years after issuance. The offering is set to close on November 16, 2020. The funds will be utilized for preclinical and clinical development of cannabinoid drug candidates, among other corporate purposes.