Welcome to our dedicated page for Inmed Pharmaceuticals news (Ticker: INM), a resource for investors and traders seeking the latest updates and insights on Inmed Pharmaceuticals stock.
Company Overview
InMed Pharmaceuticals Inc (INM) is a Canada-based, clinical-stage biopharmaceutical company dedicated to developing novel, proprietary small molecule drug candidates. Leveraging extensive expertise in cannabinoid pharmacology and innovative drug delivery systems, InMed focuses on addressing high unmet medical needs across neurodegenerative, ocular, and dermatological indications. The company operates at the intersection of advanced biotechnology and pharmaceutical innovation, integrating targeted research with a robust patent portfolio to protect its unique therapeutic approaches.
Core Business Areas
At its core, InMed is engaged in the research, development, and manufacturing of pharmaceutical-grade cannabinoids and small molecule analogs. Its pipeline includes candidates designed for the treatment of complex conditions such as Alzheimer’s disease, dry age-related macular degeneration, and epidermolysis bullosa. By emphasizing a multi-faceted approach to drug development, InMed not only explores the therapeutic potential of cannabinoid-based compounds, but also ensures the advancement of its clinical stage programs through meticulous preclinical studies and strategic partnerships.
Technology and Proprietary Platform
The company’s proprietary platform is central to its operations. This platform combines the extensive pharmacology of cannabinoids with innovative drug delivery systems to optimize therapeutic efficacy. InMed’s approach enables oral bioavailability and effective delivery of its drug candidates to target tissues, thus addressing challenges associated with existing treatment modalities. This technological edge is underpinned by a strong intellectual property portfolio, including multiple patent families that encompass novel compositions, formulations, manufacturing processes, and methods of use.
Research and Development Focus
Research and development are pivotal to the company’s value proposition. InMed’s rigorous preclinical studies test the efficacy of candidates such as INM-901, designed to modulate neuroinflammation and improve neuronal function, as well as INM-089, intended for ocular indications like dry age-related macular degeneration. These drug candidates are characterized by their multi-mechanistic actions, often targeting the CB1/CB2 receptors to address complex disease pathways. The company’s scientific efforts are supported by continuous advancements in chemistry, manufacturing, and controls (CMC) to ensure a seamless transition from preclinical studies to clinical trials.
Market Position and Competitive Landscape
InMed occupies a distinctive position within the biopharmaceutical space. Its focus on the specialized niche of cannabinoid-based therapies for diseases with high unmet needs distinguishes it from broader pharmaceutical companies. The company’s competitive advantage stems from its comprehensive integrated approach—melding innovative research, a rigorously maintained patent portfolio, and cutting-edge drug delivery formulations. This positions InMed as a knowledgeable and specialized player in its industry, capable of addressing complex therapeutic challenges through targeted small molecule candidates.
Value Proposition and Industry Impact
Through its advanced technology and sustained commitment to R&D, InMed Pharmaceuticals Inc delivers significant value by exploring new modalities in the treatment of debilitating diseases. The company’s exploration into multiple disease areas using its proprietary cannabinoid platform demonstrates its expertise and long-standing dedication to innovation. InMed’s work contributes to a deeper understanding of disease mechanisms, offering an informed perspective on how alternative therapeutic approaches can redefine the landscape in areas traditionally dominated by conventional treatments.
InMed Pharmaceuticals (NASDAQ: INM) reported Q2 FY2025 financial results, posting a net loss of $2.6M compared to $1.5M in the same period last year. The company's BayMedica commercial unit generated revenues of $1.1M, a 10% decrease from the previous year, but achieved a net income of $0.23M, representing a 189% improvement.
Key developments include positive results from INM-901's preclinical Alzheimer's disease study, showing reduction in neuroinflammatory markers, and the selection of an intravitreal formulation for INM-089 in dry AMD treatment. The company's cash position stood at $3.5M as of December 31, 2024, with an additional $2.9M raised in January 2025, expected to fund operations through Q2 2025.
Operating expenses increased with R&D costs rising to $1M from $0.6M, and G&A expenses reaching $1.6M compared to $1.4M in the previous year.
InMed Pharmaceuticals (NASDAQ: INM) has announced the selection of an intravitreal (IVT) formulation for INM-089 as a drug candidate for treating dry age-related macular degeneration (AMD). The company has achieved successful delivery of the formulation at doses up to 10 times the projected therapeutic level, demonstrating a favorable pharmacokinetic profile and significant safety margin.
The company has completed dose-ranging in vivo studies, which will guide the selection of appropriate doses for pivotal preclinical toxicology studies. The INM-089 IVT formulation will proceed to GLP-enabling studies and subsequent clinical development stages. InMed chose intravitreal injection as the delivery method, noting it's the established standard of care among retinal specialists, particularly given the challenges of delivering lipophilic drugs through topical formulations like eye drops.
InMed Pharmaceuticals (NASDAQ: INM) has been granted its first international Patent Cooperation Treaty (PCT) patent in Mexico for novel cannabinoid analog compounds. The patent, titled 'Cannabinoid analogs and methods for their preparation', has a 20-year term and covers therapeutic applications for pain, glaucoma, inflammatory disease, anxiety, and neurological conditions including Parkinson's and Alzheimer's disease.
The patent protects both the compounds and their preparation methods, including drug candidates for Alzheimer's disease and dry age-related macular degeneration programs. The PCT application is pending in several additional jurisdictions including the U.S., Europe, and Japan. InMed currently maintains 14 patent families covering compositions, formulations, manufacturing processes, and methods of use.
InMed Pharmaceuticals (NASDAQ: INM) has announced positive results from a long-term preclinical Alzheimer's Disease study of INM-901. The drug candidate demonstrated significant reductions in several neuroinflammation markers:
- Dose-dependent and statistically significant reduction in plasma pro-inflammatory cytokines (TNF-α, IL-1β, INF-γ)
- Significant reduction in neurofilament light chain (NfL), a neurodegeneration biomarker
- Reduced expression of key neuroinflammatory genes (GFAP, CD-33, TLR-2) in the brain
INM-901's key characteristics include oral administration capability, demonstrated neuroprotective effects through CB1/CB2 receptor activation, and impact on PPARs. The company is conducting additional analyses focusing on receptor engagement levels, neuritogenesis, and neuroprotection, with results expected in the coming weeks.
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.
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