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InMed Pharmaceuticals Inc - INM STOCK NEWS

Welcome to our dedicated news page for InMed Pharmaceuticals (Ticker: INM), a resource for investors and traders seeking the latest updates and insights on InMed Pharmaceuticals.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect InMed Pharmaceuticals's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of InMed Pharmaceuticals's position in the market.

News
InMed Reports First Quarter Fiscal 2024 Financial Results and Provides Business Update
Rhea-AI Summary
InMed Pharmaceuticals Inc. (NASDAQ: INM) reports financial results for Q1 FY2024, highlighting advancements in pharmaceutical programs, commercial operations, and a successful financing round. The company's INM-901 program shows promise in targeting Alzheimer's disease, while the INM-755 CBN cream demonstrates potential for broader applications. BayMedica, the company's commercial subsidiary, experiences robust revenue growth. Financially, the company records a net loss of $2.5M for Q1 FY2024, with a decrease in cash and cash equivalents compared to the previous year.
Rhea-AI Impact
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earnings
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InMed Announces Presentation of INM-755 Phase 2 Clinical Study Results at 12th World Congress on Itch (WCI) 2023
Rhea-AI Summary
InMed Pharmaceuticals Inc. announced that their Phase 2 clinical study of investigational drug INM-755 cannabinol cream for the treatment of symptoms in patients with epidermolysis bullosa has been accepted as an oral presentation at the 12th World Congress on Itch. The study showed a positive indication of enhanced anti-itch activity for INM-755 cannabinol cream.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.83%
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clinical trial
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InMed Pharmaceuticals Announces the Closing of $5.2 Million Private Placement and Preferred Investment Option Exercise Priced At-the-Market Under Nasdaq Rules
Rhea-AI Summary
InMed Pharmaceuticals has closed its previously announced offering for the issuance and sale of pre-funded warrants and preferred investment options. The offerings raised approximately $5.2 million in gross proceeds, which will be used for pipeline development, commercial sales, and general working capital purposes.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-15.93%
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InMed Pharmaceuticals Announces $5.2 Million Private Placement and Preferred Investment Option Exercise Priced At-the-Market under Nasdaq Rules
Rhea-AI Summary
InMed Pharmaceuticals Inc. has entered into definitive agreements for a private placement, issuing 3,012,049 common shares and preferred investment options. The offerings are expected to raise approximately $5.2 million, with the net proceeds to be used for pipeline development and commercial sales of rare cannabinoids.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-24.17%
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InMed Pharmaceuticals Inc.'s INM-901 Demonstrates Unique Pharmacological Effects in Alzheimer's Disease in Preclinical Proof-of-Concept Studies
Rhea-AI Summary
InMed Pharmaceuticals has selected INM-901 as its lead Alzheimer's disease drug candidate after positive results from proof-of-concept studies. INM-901 showed potential in targeting biological pathways associated with Alzheimer's and demonstrated favorable results in preclinical studies. The next stage will include advanced preclinical studies and drug development activities.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
70.52%
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InMed Pharmaceuticals Reports Full Year Fiscal 2023 Financial Results and Provides Business Update
Rhea-AI Summary
InMed Pharmaceuticals Inc. reports $4.1M revenues in fiscal year 2023, a 280% increase over the previous year, and $2.3M revenues in fiscal Q4 2023, a 123% increase QoQ. Completed Phase 2 Clinical Trial for anti-itch cream. Launches INM-900 series program targeting neurodegenerative diseases. Cash, cash equivalents, and short-term investments at $9.0M as of June 30, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.45%
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earnings
News
InMed Pharmaceuticals Receives Nasdaq Notification Regarding Minimum Bid Price Compliance
Rhea-AI Summary
InMed Pharmaceuticals received notice from Nasdaq regarding its common shares falling below the minimum bid price requirement. The company has 180 days to regain compliance.
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InMed to Present at H.C. Wainwright 25th Annual Global Investment Conference
Rhea-AI Summary
InMed Pharmaceuticals Inc. to participate in H.C. Wainwright Global Investment Conference
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End-of-Day
-4.82%
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InMed to Participate in Fireside Chat with Water Tower Research on July 25, 2023 at 2pm ET
Rhea-AI Summary
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Rhea-AI Sentiment
End-of-Day
6.06%
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conferences
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InMed Provides Update on BayMedica Rare Cannabinoid Business
Rhea-AI Summary
InMed Pharmaceuticals Inc. (NASDAQ: INM) reports $2.3M unaudited revenues in Q4 2023, marking a 123% QoQ increase. The company's subsidiary BayMedica LLC achieved a third consecutive quarter of significant revenue growth. With optimized manufacturing processes and increased production, BayMedica is positioned as a leading supplier of bioidentical rare cannabinoids to the Health and Wellness market.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.32%
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Stock INM logo
InMed Pharmaceuticals Inc

Nasdaq:INM

INM Rankings

N/A Ranked by Market Cap
N/A Ranked by Stock Gains
N/A Ranked by Dividends

INM Stock Data

2.00M
4.84M
1.36%
13.29%
0.17%
Research and Development in Biotechnology (except Nanobiotechnology)
Professional, Scientific, and Technical Services
Link
Canada
Vancouver

About INM

inmed is a clinical stage biopharmaceutical company that specializes in developing novel therapies through the research and development into the extensive pharmacology of cannabinoids coupled with innovative drug delivery systems. inmed's proprietary platform technology, product pipeline and accelerated development pathway are the fundamental value drivers of the company.