ADAR1-managed funds add 468,551 InMed (INM) shares in open-market buys

Rhea-AI Filing Summary

Private investment funds managed by ADAR1 Capital Management, LLC bought 468,551 InMed Pharmaceuticals common shares in open-market transactions on May 19, 2026. Individual trades included 200,000 shares at $1.4990, 200,000 shares at $1.5604, and 68,551 shares at $1.5998, all reported as indirect ownership. Footnotes state the securities are owned directly by ADAR1-managed funds and may be deemed indirectly beneficially owned by ADAR1 and Daniel Schneeberger, who each disclaim beneficial ownership beyond their pecuniary interest.

Insights

Equity ownership and governance analyst

ADAR1-managed funds increased their indirect stake in InMed through open-market buying.

Private funds managed by ADAR1 Capital Management, LLC executed three open-market purchases of InMed common shares on May 19, 2026, totaling 468,551 shares. These are non-derivative cash purchases, indicating a net increase in equity exposure rather than option exercises or administrative movements.

The filing shows accounts holding 800,000, 600,000, and 400,000 shares following the respective trades, but these reflect separate indirect holdings rather than a single aggregate position. Footnotes clarify that the securities are owned directly by ADAR1-managed funds and only indirectly by ADAR1 and Daniel Schneeberger, with both parties disclaiming beneficial ownership beyond their pecuniary interest.

The transactions are reported as standard open-market purchases under code P, with weighted average prices between $1.4350 and $1.6000 across the ranges disclosed in the footnotes. No Rule 10b5-1 trading plan is mentioned, and no derivative positions remain in this filing’s derivativeSummary, so the visible activity here consists solely of these cash equity buys.

Insider Trade Summary

Net Buyer: 468,551 shares ($721,548)

Net Buy 3 txns

Insider ADAR1 Capital Management, LLC, Schneeberger Daniel

Role null | null

Bought 468,551 shs ($722K)

Type	Security	Shares	Price	Value
Purchase	Common Shares	68,551	$1.5998	$110K
Purchase	Common Shares	200,000	$1.5604	$312K
Purchase	Common Shares	200,000	$1.499	$300K

Holdings After Transaction: Common Shares — 400,000 shares (Indirect, See Footnote)

Footnotes (1)

1. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.5700 to $1.6000, inclusive. Each Reporting Person undertakes to provide to InMed Pharmaceuticals Inc., any security holder of InMed Pharmaceuticals Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.5100 to $1.6000, inclusive. Each Reporting Person undertakes to provide to InMed Pharmaceuticals Inc., any security holder of InMed Pharmaceuticals Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.4350 to $1.5700, inclusive. Each Reporting Person undertakes to provide to InMed Pharmaceuticals Inc., any security holder of InMed Pharmaceuticals Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote. The reported securities are owned directly by private investment funds managed by ADAR1 Capital Management, LLC, and may be deemed to be indirectly beneficially owned by (i) ADAR1 Capital Management, LLC and (ii) Daniel Schneeberger, the sole manager of ADAR1 Capital Management, LLC. For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each Reporting Person disclaims beneficial ownership of any such securities, except to the extent of his/its pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or otherwise.

Key Figures

Total shares bought: 468,551 shares First trade size: 200,000 shares at $1.4990 Second trade size: 200,000 shares at $1.5604 +4 more

7 metrics

Total shares bought 468,551 shares Net open-market purchases reported on May 19, 2026

First trade size 200,000 shares at $1.4990 Common Shares, indirect ownership, open-market purchase

Second trade size 200,000 shares at $1.5604 Common Shares, indirect ownership, open-market purchase

Third trade size 68,551 shares at $1.5998 Common Shares, indirect ownership, open-market purchase

Shares following first trade 800,000 shares Total indirect holdings in that account after 200,000-share buy

Shares following second trade 600,000 shares Total indirect holdings in that account after 200,000-share buy

Shares following third trade 400,000 shares Total indirect holdings in that account after 68,551-share buy

Key Terms

open-market purchase, weighted average price, beneficial ownership, pecuniary interest, +1 more

5 terms

open-market purchase financial

"transaction_action: "open-market purchase" for each Common Shares transaction"

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

weighted average price financial

"The reported price is a weighted average price. These shares were purchased in multiple transactions"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

beneficial ownership financial

"may be deemed to be indirectly beneficially owned by ADAR1 Capital Management, LLC and Daniel Schneeberger"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"disclaims beneficial ownership of any such securities, except to the extent of his/its pecuniary interest therein"

indirectly beneficially owned financial

"may be deemed to be indirectly beneficially owned by (i) ADAR1 Capital Management, LLC and (ii) Daniel Schneeberger"

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ADAR1 Capital Management, LLC

(Last) (First) (Middle)

3503 WILD CHERRY DRIVE

BUILDING 9

(Street)

AUSTIN TEXAS 78738

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
InMed Pharmaceuticals Inc. [ INM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/19/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	05/19/2026		P		68,551	A	$1.5998(1)	400,000	I	See Footnote(4)(5)
Common Shares	05/19/2026		P		200,000	A	$1.5604(2)	600,000	I	See Footnote(4)(5)
Common Shares	05/19/2026		P		200,000	A	$1.499(3)	800,000	I	See Footnote(4)(5)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

ADAR1 Capital Management, LLC

(Last) (First) (Middle)

3503 WILD CHERRY DRIVE

BUILDING 9

(Street)

AUSTIN TEXAS 78738

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Schneeberger Daniel

(Last) (First) (Middle)

3503 WILD CHERRY DRIVE, BUILDING 9

(Street)

AUSTIN TEXAS 78738

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.5700 to $1.6000, inclusive. Each Reporting Person undertakes to provide to InMed Pharmaceuticals Inc., any security holder of InMed Pharmaceuticals Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.

2. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.5100 to $1.6000, inclusive. Each Reporting Person undertakes to provide to InMed Pharmaceuticals Inc., any security holder of InMed Pharmaceuticals Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.

3. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.4350 to $1.5700, inclusive. Each Reporting Person undertakes to provide to InMed Pharmaceuticals Inc., any security holder of InMed Pharmaceuticals Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.

4. The reported securities are owned directly by private investment funds managed by ADAR1 Capital Management, LLC, and may be deemed to be indirectly beneficially owned by (i) ADAR1 Capital Management, LLC and (ii) Daniel Schneeberger, the sole manager of ADAR1 Capital Management, LLC.

5. For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each Reporting Person disclaims beneficial ownership of any such securities, except to the extent of his/its pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or otherwise.

	ADAR1 Capital Management, LLC By: Daniel Schneeberger, Manager /s/ Daniel Schneeberger	05/21/2026
	/s/ Daniel Schneeberger	05/21/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

How many InMed Pharmaceuticals (INM) shares did ADAR1-managed funds buy?

ADAR1-managed funds bought 468,551 InMed common shares. The Form 4 shows three open-market purchases totaling 468,551 non-derivative shares on May 19, 2026, reported as indirect ownership through private investment funds managed by ADAR1 Capital Management, LLC.

At what prices were the InMed (INM) shares purchased by ADAR1-related funds?

The reported weighted average prices ranged from $1.4350 to $1.6000. Individual transactions were recorded at $1.4990, $1.5604, and $1.5998 per share, with footnotes stating these are weighted averages for multiple trades within specified price ranges on May 19, 2026.

Who is reported as owning the InMed (INM) shares purchased in this Form 4?

The shares are owned directly by private investment funds managed by ADAR1. Footnotes state the securities may be deemed indirectly beneficially owned by ADAR1 Capital Management, LLC and Daniel Schneeberger, while each disclaims beneficial ownership beyond any pecuniary interest.

Are the InMed (INM) purchases by ADAR1 reported as direct or indirect ownership?

All reported InMed purchases are classified as indirect ownership. Each transaction is coded with ownership type "I" and notes to see the footnote, which explains that private investment funds managed by ADAR1 Capital Management, LLC hold the shares, not the individuals personally.

Did the ADAR1-related Form 4 for InMed (INM) involve any sales or derivatives?

No sales or derivative transactions are reported in this Form 4. The transaction summary shows three open-market purchases totaling 468,551 shares, with zero sales, zero derivative exercises, and an empty derivativeSummary, indicating only net equity buying activity.