Inmed Pharmaceuticals Inc Stock Price, News & Analysis

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.

InMed Pharmaceuticals Inc. (Nasdaq: INM) has announced the publication of a peer-reviewed scientific article about the potential of cannabinol (CBN) in treating glaucoma. The article, published in Biochimica et Biophysical Acta, highlights CBN's ability to promote neuroprotection in retinal cells and normalize intraocular pressure, showing promise over other cannabinoids like CBD and THC. InMed's scientific advisor emphasized this milestone as validation for their glaucoma development program, which aims to address the significant unmet medical need for neuroprotective treatments.

InMed Pharmaceuticals Inc. (Nasdaq: INM) held its annual general meeting on December 17, 2021, where shareholders approved all proposed matters, including the election of directors. The voting results reflected significant shareholder support, with all director nominees receiving over 90% approval. Eric A. Adams, Adam Cutler, William J. Garner, Andrew Hull, and Catherine Sazdanoff were all elected to hold office until the next meeting. Full voting results have been reported on SEDAR.

InMed Pharmaceuticals Inc. (Nasdaq: INM) will participate in Cowen’s 4th Annual Cannabis Conference, scheduled virtually from November 29 to December 1, 2021. InMed's management plans to engage in one-on-one meetings with institutional clients. This three-day conference features insightful panel discussions led by industry experts, covering trends and innovations in the cannabis space. As a leading developer of rare cannabinoids, InMed aims to advance therapeutic alternatives for patients. For more details, visit their official site.

InMed Pharmaceuticals announced significant developments following the acquisition of BayMedica, marking its transition into a commercial stage. The company is now selling cannabichromene (CBC) in bulk and has initiated the Phase II trial of INM-755 involving up to 20 patients with epidermolysis bullosa. Despite a slight adjustment in valuation to US$290 million per share dropping to US$20.53, this reflects an increase in outstanding shares. InMed's cash and marketable securities stood at US$15.4 million as of September 30, 2021, with an expected US$11 million to be raised in FY23.