Inmed Pharmaceuticals Inc Stock Price, News & Analysis

InMed Pharmaceuticals has announced the retirement of Chief Financial Officer Bruce Colwill effective March 31, 2022, who will continue as an advisor until June 30, 2022. Brenda Edwards has been appointed as Interim CFO starting April 1, 2022, bringing over 35 years of financial experience, including over 20 years in CFO roles. Eric Adams, CEO, expressed gratitude for Colwill's leadership during a pivotal time and welcomed Edwards for her extensive background in finance and management, emphasizing her suitability for the company's transitional phase.

InMed Pharmaceuticals (Nasdaq: INM) announced that Eric A. Adams, President and CEO, will present at the 34th Annual Roth Conference from March 13-15, 2022. Mr. Adams will host a fireside chat with Scoth Henry on March 15 at 09:30 AM ET. Investors can access a webcast of this event and an on-demand presentation through the company's investor relations webpage. The conference features numerous small group meetings and presentations from around 400 companies, focusing on emerging growth sectors.

InMed Pharmaceuticals (INM) reported its Q2 2022 financial results, showcasing a significant transition from a biotech firm to one with commercial sales, generating $0.3 million in revenue, all from cannabichromene (CBC). The company has also started selling cannabicitran (CBT). The acquisition of BayMedica enhances its portfolio, while ongoing clinical trials continue to advance. However, net losses increased to $4.3 million due to higher R&D and G&A expenses. With a gross cash balance of $11.3 million, INM anticipates adequate funding into Q1 2023.

InMed Pharmaceuticals (Nasdaq: INM) has appointed Gerard P. Griffin III as Vice President of Sales and Marketing for its subsidiary, BayMedica. Griffin brings extensive experience in the cannabinoid market, having previously held senior roles in both private and publicly traded companies. His appointment comes at a pivotal moment as BayMedica prepares to launch several high-demand rare cannabinoid products. This strategic move aims to enhance B2B sales and accelerate commercial activities in the consumer health and wellness space.

InMed Pharmaceuticals (Nasdaq: INM) has acquired BayMedica, enhancing its position in the rare cannabinoid market. The company announced a net loss of $7.3 million for Q2 FY2022, with research and development expenses rising significantly to $4 million. Despite the loss, InMed initiated sales of cannabicitran (CBT) and plans further launches of rare cannabinoids. They have also filed patents for neurological treatments and advanced their drug development programs, particularly INM-755 for Epidermolysis Bullosa and INM-088 for glaucoma. Cash reserves increased to $11.3 million.

InMed Pharmaceuticals (Nasdaq: INM) will report its second fiscal quarter results on February 15, 2022, for the period ending December 31, 2021. The company specializes in the research and commercialization of rare cannabinoids, aiming to serve pharmaceutical and health markets. With its subsidiary BayMedica LLC, InMed claims to have significant manufacturing capabilities. Financial statements and related MD&A will be accessible on the company’s website and other regulatory platforms. A conference call is scheduled for February 15 at 11 AM PT.

InMed Pharmaceuticals (Nasdaq: INM) has launched B2B sales of the rare cannabinoid cannabicitran (CBT), marking the first of several planned product launches for 2022. This introduction follows initial purchase orders and strengthens InMed's leadership in commercial scale production of rare cannabinoids.

The market for rare cannabinoids is projected to reach US$26 billion by 2028, with a CAGR of >20%. InMed aims to produce over 100kg of cannabidivarin (CBDV) and tetrahydrocannabivarin (THCV) to meet rising demand.

InMed Pharmaceuticals (Nasdaq: INM) shared insights on its growth strategy and accomplishments in a letter from CEO Eric A. Adams. The company emphasizes the therapeutic potential of rare cannabinoids, bolstered by the acquisition of BayMedica, which enhances its position as a leader in cannabinoid manufacturing. In 2022, InMed aims to launch new products and advance its pharmaceutical programs, including the INM-755 trial for Epidermolysis Bullosa and INM-088's glaucoma research. As of September 30, 2021, cash reserves stood at $15.4 million, enabling further development and commercialization initiatives.

InMed Pharmaceuticals Inc. (Nasdaq: INM) will be featured in a webinar entitled "Addressing The Increasing Demand For Rare Cannabinoids" on January 6, 2022. The event will include presentations from CEO Eric A. Adams, SVP Shane Johnson, and VP Chris Meiering. Attendees can register to participate for free via Tribe Public. InMed specializes in developing and commercializing rare cannabinoids for various markets, including pharmaceuticals and wellness. The company is committed to providing innovative cannabinoid-based therapies.