[8-K] InMed Pharmaceuticals Inc. Reports Material Event
Rhea-AI Filing Summary
InMed Pharmaceuticals received a Nasdaq notice that its common share closing bid price was below the $1.00 minimum for 30 consecutive trading days from February 11 to March 26, 2026, putting it out of compliance with Nasdaq Listing Rule 5550(a)(2).
The company has 180 calendar days from March 27, 2026 to regain compliance by having its closing bid at or above $1.00 for at least 10 consecutive business days. During this period, its shares will continue trading on the Nasdaq Capital Market under the symbol INM if other listing standards are met.
If InMed cannot meet the requirement within this window, it may qualify for an additional 180-day grace period, potentially using a reverse stock split to lift the share price. Failure to comply after the available periods could lead to delisting, though InMed could appeal to a Nasdaq Hearings Panel.
Positive
- None.
Negative
- None.
Insights
Nasdaq minimum bid price notice introduces real listing risk for InMed.
InMed Pharmaceuticals has fallen below Nasdaq’s $1.00 minimum bid price for 30 straight trading days, triggering a formal deficiency notice. This does not immediately affect trading, but it formally starts a compliance clock under Nasdaq Listing Rule 5550(a)(2).
The company now has 180 calendar days from the March 27, 2026 notice to lift its closing bid to at least $1.00 for 10 consecutive business days. If other initial listing standards are met, it may access a second 180-day period, likely requiring tools such as a reverse stock split.
If InMed cannot demonstrate compliance within the available periods, Nasdaq staff is expected to initiate delisting. The company could appeal to a Nasdaq Hearings Panel, but the shares would be suspended on Nasdaq during the appeal and the outcome is uncertain based on the language in the disclosure.
8-K Event Classification
Key Figures
Key Terms
Nasdaq Listing Rule 5550(a)(2) regulatory
minimum bid price requirement market
reverse stock split financial
Nasdaq Hearings Panel regulatory
Nasdaq Capital Market market
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
|
|
|
|
| (State or other jurisdiction | (Commission | (IRS Employer |
| of incorporation) | File Number) | Identification No.) |
(Address of principal executive offices) (ZIP Code)
Registrant’s telephone number, including area code: (
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbols | Name of each exchange on which registered | ||
|
|
|
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b -2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On March 27, 2026, InMed Pharmaceuticals Inc. (the "Company") received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying it that the closing bid price of the Company's common shares over a period of 30 consecutive trading days was below the minimum $1.00 per share requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) during the February 11, 2026 to March 26, 2026 period.
In accordance with applicable Nasdaq procedures, the Company has a period of 180 calendar days following the receipt of the written notice mentioned above to cure the deficiency and regain compliance. The notice has no immediate impact on the listing of the Company's common shares, which will continue to trade on The Nasdaq Capital Market subject to the Company's continued compliance with the other listing requirements of The Nasdaq Capital Market. The common shares of the Company will continue to trade under the symbol "INM". The Company intends to monitor the closing share price for its common shares and explore available options to regain compliance.
In the event the Company does not evidence compliance with the minimum bid price requirement during the 180-day grace period, the Company may be eligible for an additional 180 calendar day grace period. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary, to Nasdaq. If it appears to the staff of Nasdaq that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, the Company will not be entitled to an additional 180 calendar days grace period and Nasdaq sill provide notice to the Company that its securities will be subject to delisting. If the Company does not regain compliance within the allotted compliance period(s), including any extensions that may be granted by Nasdaq, it is expected that Nasdaq would notify the Company that its common shares are subject to delisting. If the Company is notified by Nasdaq that its securities are subject to delisting, the Company may appeal such determination to a Nasdaq Hearings Panel (the "Panel") but the Company's securities would be automatically suspended from trading on Nasdaq pending the completion of the appeal process. There can be no assurance that any such appeal would be successful or that the Company would be able to evidence compliance with the terms of any extension that may be granted by the Panel.
On March 27, 2026, the Company issued a press release announcing its receipt of the written notice from the Listing Qualifications Department of Nasdaq described above. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein. The press release contains forward-looking statements and includes cautionary statements identifying important factors that could cause actual results to differ materially from those in the forward-looking statements.
Item 9.01. Financial Statements and Exhibits.
| Exhibit No. | Description | ||
| 99.1 | Press Release | ||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document and included as Exhibit 101) | ||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| INMED PHARMACEUTICALS INC. | ||
| Date: March 27, 2026 | By: | /s/ Eric A Adams |
| Eric A Adams President & CEO |
||
 |
NASDAQ: INM 1445 - 885 West Georgia St. Vancouver, BC, Canada V6C 3E8 Tel: +1.604.669.7207 Email: info@inmedpharma.com www.inmedpharma.com |
InMed Pharmaceuticals Receives Nasdaq Notification Regarding Minimum Bid Price Compliance
VANCOUVER, British Columbia - March 27, 2026 - InMed Pharmaceuticals Inc. (NASDAQ: INM) ("InMed" or the "Company"), a pharmaceutical company developing a pipeline of disease-modifying small molecule drug candidates targeting CB1 and CB2 receptors, today announced the Company received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") dated March 27, 2026, notifying it that the closing bid price of the Company's common shares over a period of 30 consecutive trading days was below the minimum $1.00 per share requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) during the February 11, 2026 to March 26, 2026 period.
The notice has no immediate impact on the listing of the Company's common shares, which will continue to trade on The Nasdaq Capital Market subject to the Company's continued compliance with the other listing requirements of The Nasdaq Capital Market.
In accordance with applicable Nasdaq procedures, the Company has a period of 180 calendar days following the receipt of the written notice mentioned above to cure the deficiency and regain compliance. To regain compliance, the closing bid price of the common shares of the Company must meet or exceed $1.00 per share for at least 10 consecutive business days during the 180-calendar day compliance period. The common shares of the Company will continue to trade under the symbol "INM". The Company intends to monitor the closing share price for its common shares and explore available options to regain compliance.
In the event the Company does not evidence compliance with the minimum bid price requirement during the 180-day grace period, the Company may be eligible for an additional 180 calendar day grace period. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary, to Nasdaq. If it appears to the staff of Nasdaq that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, the Company will not be entitled to an additional 180 calendar days grace period and Nasdaq will provide notice to the Company that its securities will be subject to delisting. If the Company does not regain compliance within the allotted compliance period(s), including any extensions that may be granted by Nasdaq, it is expected that Nasdaq would notify the Company that its common shares are subject to delisting. If the Company is notified by Nasdaq that its securities are subject to delisting, the Company may appeal such determination to a Nasdaq Hearings Panel (the "Panel") but the Company's securities would be automatically suspended from trading on Nasdaq pending the completion of the appeal process. There can be no assurance that any such appeal would be successful or that the Company would be able to evidence compliance with the terms of any extension that may be granted by the Panel.
About InMed:
InMed Pharmaceuticals is a pharmaceutical company focused on developing a pipeline of proprietary small-molecule drug candidates targeting the CB1/CB2 receptors. InMed's pipeline consists of three separate programs in the treatment of Alzheimer's, ocular and dermatological indications. For more information, visit www.inmedpharma.com.
Investor Contact:
Colin Clancy
Vice President, Investor Relations
and Corporate Communications
T: +1.604.416.0999
E: ir@inmedpharma.com
Cautionary Note Regarding Forward-Looking Information:
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "potential", "possible", "would" and similar expressions. Such statements, based as they are on current expectations of management, inherently involve numerous risks, uncertainties and assumptions, known and unknown, many of which are beyond our control. Forward-looking information is based on management's current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Without limiting the foregoing, forward-looking information in this news release includes, but is not limited to, statements about: those relating to the Company's ability to regain compliance with the Nasdaq Capital Market minimum bid price requirement, including, without limitation, by effecting one or more stock splits if necessary; the impact of Nasdaq's notice on the listing of the Company's common shares on Nasdaq; and the Company's ability to meet the minimum stockholders' bid requirement for continued listing under Nasdaq listing rules or the success of any proposed appeal to the panel.
Additionally, there are known and unknown risk factors which could cause InMed's actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. A complete discussion of the risks and uncertainties facing InMed's business is disclosed in InMed's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission on www.sec.gov.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and InMed disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
Filing Exhibits & Attachments
6 documentsPress Releases
Other Documents
- EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 4.6 KB
- EX-101 XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT 697 B
- EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT 22.0 KB
- EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 46.1 KB
- EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 24.7 KB
