InMed Pharmaceuticals Amends Preferred Investment Options
Rhea-AI Summary
InMed Pharmaceuticals (NASDAQ: INM) announced an amendment to certain preferred investment options held by Armistice Capital Master Fund. These options, originally dated October 26, 2023, allow subscription for up to 278,761 common shares.
The exercise price was reduced from $16.60 per share to $0.80 per share. The options were issued via private placement under Section 4(a)(2) of the Securities Act and Regulation D. There is no assurance that any options will be exercised.
Positive
- Ability to issue up to 278,761 shares through existing options
- Amended Armistice options maintain a potential future equity capital source
Negative
- Lowered Armistice exercise price from $16.60 to $0.80 per share
- Full exercise could add up to 278,761 new common shares
- No assurance any Armistice preferred investment options will be exercised
News Market Reaction – INM
On the day this news was published, INM gained 135.05%, reflecting a significant positive market reaction. Argus tracked a peak move of +32.7% during that session. Argus tracked a trough of -15.4% from its starting point during tracking. Our momentum scanner triggered 18 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $3M to the company's valuation, bringing the market cap to $5.34M at that time. Trading volume was exceptionally heavy at 266.6x the daily average, suggesting very strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 06 | Earnings and update | Negative | -4.1% | Reported Q3 net loss and winding down BayMedica commercial operations. |
| Apr 27 | Option repricing | Negative | -4.3% | Repriced Sabby and Wainwright preferred investment options to $0.80 exercise price. |
| Mar 27 | Nasdaq notice | Negative | -6.2% | Nasdaq minimum bid-price noncompliance notice with 180-day cure period. |
| Mar 23 | Preclinical data | Positive | -6.9% | Positive INM-901 neuroinflammation data in human brain organoid models. |
| Mar 09 | Pipeline update | Positive | -3.7% | Outlined 2026 priorities advancing INM-901 and INM-089 toward INDs. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Across the last 5 news events, INM shares fell after every release, including on clinically positive updates, indicating a pattern of post-news selling pressure regardless of headline tone.
Over recent months, InMed has highlighted preclinical progress for INM-901 and broader 2026 development plans, while also facing a Nasdaq minimum bid-price notice and winding down BayMedica’s revenue-generating operations. Capital measures included repricing preferred investment options for Sabby and Wainwright to $0.80. Each of these developments saw negative next-day moves, so today’s Armistice option amendment follows a series of events met with selling.
Key Terms
preferred investment options financial
exercise price financial
private placement financial
Regulation D regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - May 19, 2026) - InMed Pharmaceuticals Inc. (NASDAQ: INM) ("InMed" or the "Company"), a pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates for diseases with high unmet medical needs, today announces that it has entered into an amending agreement with Armistice Capital Master Fund Ltd. ("Armistice") in respect of certain outstanding preferred investment options held by Armistice.
As previously reported, pursuant to the terms of certain preferred investment options dated October 26, 2023 issued to Armistice (the "Armistice Preferred Investment Options"), the Company provided Armistice with the right to subscribe for and purchase from the Company up to 278,761 common shares in the capital of the Company at an exercise price per common share of
The Company has entered into an amending agreement with Armistice in respect of the Armistice Preferred Investment Options to amend the Armistice Exercise Price from
For further information, please see the Company's filings with the Securities and Exchange Commission, including the Company's Current Reports on Form 8-K filed with the Securities and Exchange Commission from time to time.
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 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 the exercise of the Armistice Preferred Investment Options prior to their expiration.
With respect to the forward-looking information contained in this news release, InMed has made numerous assumptions regarding, among other things: the ability to obtain all necessary regulatory approvals on a timely basis, or at all; and continued economic and market stability. While InMed considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies. 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 stand-alone business is disclosed in InMed's Annual Report on Form 10-K, InMed's Quarterly Report on Form 10-Q and other filings with the Security 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297903