Inmed Pharmaceuticals Inc Stock Price, News & Analysis

InMed Pharmaceuticals Inc. (Nasdaq: INM) announced a consolidation of its share capital, reducing the number of outstanding shares from approximately 18 million to 720,597 on a 1-for-25 basis. This move aims to regain compliance with Nasdaq's continued listing requirements. The consolidation will not change the ownership percentage for shareholders. Trading of the post-consolidation shares will commence on September 7, 2022, with the trading symbol 'INM' and a new CUSIP number. Registered shareholders will receive instructions via mail, and no fractional shares will be issued.

InMed Pharmaceuticals (Nasdaq: INM) has appointed Nicole Lemerond to its Board of Directors, enhancing its financial and healthcare expertise. Lemerond, a seasoned financial executive with over 25 years of experience, takes over from Adam Cutler, who stepped down after serving since 2015. The transition aims to bolster InMed's strategic initiatives as it continues to lead in the research and commercialization of rare cannabinoids. This change is expected to strengthen management and contribute to value creation for stakeholders.

InMed Pharmaceuticals (Nasdaq: INM) announced key developments in its Phase 2 clinical trial for INM-755 cannabinol cream targeting epidermolysis bullosa (EB). The trial has expanded to include adolescents aged 12-17 after safety data review, with the first adolescent patient successfully enrolled and treated. Additionally, a patent for CBN's use in EB treatment has been granted in Japan, enhancing InMed's intellectual property portfolio. Currently, eight clinical trial sites across Europe are activated, with two more expected soon, aiming for 20 enrolled patients by the end of 2022.

InMed Pharmaceuticals Inc. (Nasdaq: INM) has appointed Michael Woudenberg as the new Chief Operating Officer, effective immediately. Woudenberg, who previously served as Senior Vice President of Chemistry, Manufacturing and Controls, has significant experience in drug development and manufacturing. His promotion is expected to strengthen operational leadership as InMed pursues its strategic growth in rare cannabinoid therapeutics. Eric A. Adams, the company's President and CEO, endorsed the decision, highlighting Woudenberg's integral role within the organization over the past four years.

InMed Pharmaceuticals (Nasdaq: INM) has received a notice from Nasdaq indicating that its stock has been trading below the $1.00 minimum bid price for 30 consecutive days. The Company has 180 days to regain compliance and will continue to trade during this period. If compliance is not met, InMed may face delisting, although it can appeal the decision. The Company plans to monitor its stock price closely and explore options to comply with Nasdaq listing requirements.

InMed Pharmaceuticals Inc. (Nasdaq: INM) announced a peer-reviewed study published in the International Journal of Molecular Sciences, highlighting rare cannabinoids' effects on skin conditions. Conducted by Dr. Mauro Maccarrone and his team, the study focused on tetrahydrocannabivarin (THCV), cannabichromene (CBC), and others. Results indicate varying biological activities, with THCV acting as a cannabinoid receptor 1 antagonist. This research supports further exploration into rare cannabinoids for therapeutic applications in skin diseases, aligning with InMed's commitment to advancing cannabinoid science.

InMed Pharmaceuticals has officially launched B2B sales of the rare cannabinoid d9-THCV through its subsidiary BayMedica, targeting the health and wellness sector. Rigorous testing and GMP standards ensure high product quality. Research highlights d9-THCV's potential benefits, including appetite suppression and blood sugar regulation. The cannabinoid market is projected to grow to US$26 billion by 2028 with a CAGR exceeding 20%. InMed aims to solidify its position as a leading supplier in this emerging market.

InMed Pharmaceuticals (Nasdaq: INM) has successfully closed a registered direct offering and a concurrent private placement, raising approximately $5 million. The offerings involved issuing 4,079,256 common shares and 1,748,250 shares at a price of $0.858 each to a healthcare-focused institutional investor. Additionally, InMed issued investment options for purchasing up to 5,827,506 common shares. Proceeds will be used for pipeline development, commercial activities, and general working capital needs. The unregistered options have an exercise price of $0.74, expirating in six and a half years.

InMed Pharmaceuticals has announced a securities purchase agreement with a healthcare-focused institutional investor for the issuance of 4,079,256 common shares at $0.858 each, resulting in gross proceeds of approximately $5 million. This offering includes a concurrent private placement for an additional 1,748,250 shares at the same price. The company plans to utilize the net proceeds for pipeline development and commercial activities. Additionally, existing warrants will be amended to reduce their exercise price to $0.74 per share, enhancing the facility for investors.