Welcome to our dedicated page for InMed Pharmaceuticals Common Shares news (Ticker: INM), a resource for investors and traders seeking the latest updates and insights on InMed Pharmaceuticals Common Shares stock.
InMed Pharmaceuticals Inc. (NASDAQ: INM) is a leading Canadian clinical-stage biopharmaceutical company at the forefront of cannabinoid research and development. Specializing in the creation of novel therapies, InMed harnesses the extensive pharmacology of cannabinoids, combined with cutting-edge drug delivery systems.
InMed's innovative approach includes a robust product pipeline featuring:
- INM-755: A topical cream for the treatment of epidermolysis bullosa, a rare skin condition.
- INM-088: An ophthalmic formulation targeting glaucoma to preserve retinal function.
- INM-901: A promising treatment for Alzheimer's disease, showing multiple mechanisms of action to improve cognitive and memory functions.
- INM-089: Aimed at treating age-related macular degeneration (AMD), focusing on retinal protection and functionality.
The company's proprietary IntegraSyn manufacturing system ensures the production of high-quality pharmaceutical-grade cannabinoids, positioning them as a key player in the industry.
InMed's recent achievements include:
- Completion of a Phase 2 clinical trial for INM-755.
- Initiation of two new preclinical programs for Alzheimer's and AMD.
- Strong financial performance with significant revenue growth from its subsidiary BayMedica, which supplies rare cannabinoids to the health and wellness sector.
InMed's commitment to advancing cannabinoid science is evident through its strategic partnerships, rigorous research, and innovative product development, making significant strides in treating diseases with high unmet medical needs. For more information, visit www.inmedpharma.com.
InMed Pharmaceuticals (NASDAQ: INM) held its 2024 annual general meeting on December 18, where shareholders voted on key matters. 39.83% of the company's 13,353,431 outstanding shares were represented at the meeting. Four director nominees were approved, while Ms. Janet Grove's election was withheld with 55.74% votes against. In accordance with the Company's Majority Voting Policy, Ms. Grove has offered her resignation, which will be reviewed by the Nominating & Governance Committee. Shareholders also approved Marcum LLP (now CBIZ LLP) as the company's auditors for the following year.
InMed Pharmaceuticals (NASDAQ: INM) has entered into a Standby Equity Purchase Agreement (SEPA) with YA II PN, , managed by Yorkville Advisors Global LP, on December 13, 2024. The agreement allows InMed to sell up to $10 million of common shares over a 36-month period.
The shares will be priced at 97% of the Market Price during a specified three-day pricing period. The total shares issuable are to 19.99% of outstanding shares as of the effective date, and the Investor's beneficial ownership cannot exceed 9.99%. InMed maintains the right to set minimum acceptable prices for share issuances.
InMed Pharmaceuticals (NASDAQ: INM) has published a peer-reviewed study in Biofactors demonstrating cannabinol's (CBN) anti-inflammatory effects and its potential for treating skin diseases. The research, conducted with Dr. Mauro Maccarrone, shows that CBN prevents keratinocyte inflammation through various mechanisms, including TRPV1 receptor activation and modulation of endocannabinoid system elements. The study revealed CBN's ability to reduce pro-inflammatory cytokines while increasing anti-inflammatory ones, supporting its therapeutic potential for conditions like psoriasis, atopic dermatitis, and pruritus.
InMed Pharmaceuticals (NASDAQ: INM) reported Q1 fiscal 2025 results with notable progress in pharmaceutical programs. BayMedica commercial business generated revenues of $1.3M, a 40% increase from last year, with net income of $0.3M. Research and development expenses decreased to $0.8M from $1.3M year-over-year. The company's cash position was $5.6M as of September 30, 2024.
Key developments include positive behavioral data from INM-901 Alzheimer's treatment candidate's long-term preclinical studies and implementation of a reverse stock split to maintain Nasdaq compliance. The company expects current cash to fund operations through Q1 2025.
InMed Pharmaceuticals (NASDAQ: INM) has announced a 1-for-20 share consolidation to regain compliance with Nasdaq's listing requirements. The consolidation will reduce outstanding shares from 14,361,550 to approximately 718,078 common shares. The post-consolidation shares are expected to begin trading on Nasdaq Capital Market on November 15, 2024. The trading symbol 'INM' will remain unchanged. Exercise prices and number of shares for outstanding options, warrants, and convertible securities will be adjusted proportionally. No fractional shares will be issued, with fractions less than half being cancelled and those half or greater rounded up.
InMed Pharmaceuticals (NASDAQ: INM) has received approval from the Nasdaq Listing Qualifications Panel for an exception until December 2, 2024, to implement a share consolidation to meet listing requirements. The company must achieve a minimum $1.00 bid price for ten consecutive trading days by this date. The Board has approved a 20:1 share consolidation, which will reduce outstanding shares from 14,361,550 to approximately 718,078. This consolidation aims to maintain Nasdaq listing compliance while preserving shareholders' proportional ownership. The consolidation will adjust all outstanding securities, including options and warrants, proportionally.
InMed Pharmaceuticals (NASDAQ: INM) has filed an additional international Patent Cooperation Treaty (PCT) application for its drug candidate INM-901, targeting neurodegenerative diseases, including Alzheimer's disease. The patent covers treatment methods for neuronal disorders, cytotoxicity reduction, and neurite regeneration. INM-901 is a small molecule drug showing multiple mechanisms of action, including reduced neuroinflammation, improved neurite growth, and neuroprotective effects through CB1/CB2 receptor activation. The drug can be administered orally and has demonstrated improvements in cognitive function, memory, and behavioral aspects in preclinical studies.
InMed Pharmaceuticals (NASDAQ: INM) announced its participation in an upcoming Fierce Biotech webinar titled 'Alzheimer's Outlook - Neuroinflammation, the Next Step' scheduled for November 12th, 2024, at 2:00pm ET. Dr. Eric Hsu, Senior VP of Preclinical R&D at InMed, will join a distinguished panel of experts to discuss Alzheimer's disease research and neuroinflammation.
The webinar will cover important topics including latest Alzheimer's research, therapeutic pathways, drug development, and neuroinflammation's pathophysiological effects. Notable speakers include Dr. Phyllis Ferrell (moderator), Dr. Barry Greenberg, Dr. David Morgan, Dr. Marwan Sabbagh, and Dr. Eric Hsu.
InMed Pharmaceuticals Inc. (NASDAQ: INM) has appointed Dr. Barry Greenberg to its Scientific Advisory Board. Dr. Greenberg is the Director of the Alzheimer's Disease Translational Center and an Associate Professor in the Department of Neurology at the Johns Hopkins University School of Medicine. With four decades of experience in Alzheimer's disease research, Dr. Greenberg's expertise is expected to be invaluable as InMed advances its INM-901 drug candidate towards human clinical trials in Alzheimer's disease.
Dr. Greenberg has held various positions in the US, Sweden, and Canada, including roles at AstraZeneca and Neurochem, Inc. He has been involved in Alzheimer's disease research and drug discovery since 1985 and has contributed to developing strategies to delay the onset and progression of the disease. At Johns Hopkins, he leads the development of an AD Translational Center, focusing on integrating basic and clinical research to enable the development of effective therapies for Alzheimer's disease.
InMed Pharmaceuticals reported financial results for fiscal year 2024 and provided a business update. Key highlights include:
- $4.6M in revenues, an 11% increase over the previous year
- Net loss of $7.7M, compared to $7.9M in the previous year
- Cash position of $6.6M as of June 30, 2024
- Advancement of INM-901 program for Alzheimer's disease
- Development of INM-089 for Age-Related Macular Degeneration (AMD)
- Strengthened patent portfolio with three new U.S. patents
The company made significant progress in its pharmaceutical pipeline, focusing on Alzheimer's disease and dry AMD. INM-901 demonstrated multiple mechanisms of action and potential disease-modifying effects in preclinical studies. INM-089 showed positive pharmacological effects in dry AMD treatment.
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