InMed Pharmaceuticals Inc. Common Shares - INM STOCK NEWS

InMed Pharmaceuticals (Nasdaq: INM) announced its fiscal year 2021 results, reporting a net loss of $10.2 million, or $1.52 per share, compared to a loss of $8.9 million, or $1.71 per share in FY2020.

The company achieved a 5 g/L cannabinoid yield with its IntegraSyn™ process and is set to acquire BayMedica Inc. to enhance its rare cannabinoid manufacturing capabilities. Additionally, clinical trials for INM-755 for epidermolysis bullosa are underway, with patient enrollment expected soon.

InMed Pharmaceuticals has announced a definitive agreement to acquire BayMedica in an all-stock transaction valued at approximately US$4m. InMed will issue 1.78 million shares to BayMedica's equity and convertible debt holders. The acquisition aims to enhance expertise in cannabinoid manufacturing and commercialization, with a combined revenue exceeding US$2.5m since December 2019. Additionally, InMed's valuation has increased to US$242m or US$20.03 per share, despite a decrease in per-share value due to a higher share count.

InMed Pharmaceuticals Inc. (Nasdaq: INM) will announce its financial results for the fiscal year ending June 30, 2021, on September 24, 2021. The Company is focused on the development of rare cannabinoid pharmaceuticals, particularly cannabinol (CBN), and utilizes its proprietary IntegraSyn™ technology to produce pharmaceutical-grade cannabinoids. A conference call will occur at 8:00 AM PT, with access details provided for participants. Full financial statements and the MD&A will be available on the Company's website and SEDAR after the results are released.

InMed Pharmaceuticals (Nasdaq: INM) has announced its participation in Tribe Public’s webinar titled “Accelerating The Commercialization of Rare Cannabinoids,” featuring CEO Eric A. Adams and BayMedica Co-Founder Shane Johnson on September 21, 2021, at 8:30 AM Pacific. This follows InMed's acquisition agreement for BayMedica, enhancing its position in rare cannabinoid manufacturing and pharmaceutical development. The merger is expected to close in the coming weeks, positioning InMed as a global leader in this sector.

InMed Pharmaceuticals (Nasdaq: INM) has announced a definitive agreement to acquire BayMedica, a US-based manufacturer of rare cannabinoids. This acquisition will establish InMed as a leader in cannabinoid manufacturing and commercialization, enabling it to tap into a growing consumer health market. The transaction is expected to close soon and positions InMed to generate revenue through BayMedica’s established products. BayMedica’s Prodiol® CBC has exceeded $2.5 million in cumulative sales since its launch in December 2019, and the combined company aims to significantly increase revenues in the near term.

InMed Pharmaceuticals Inc. (Nasdaq: INM) announced that President and CEO Eric A. Adams will present at the H.C. Wainwright 23rd Annual Global Investment Conference, scheduled for September 13-15, 2021. The presentation will be available on-demand from 1:00 PM ET on September 13 via the H.C. Wainwright events platform. An archived version will be accessible on the company's website for 90 days following the event. InMed's management is also engaging with institutional investors throughout the conference.

InMed Pharmaceuticals Inc. (Nasdaq: INM) announced that CEO Eric A. Adams will present live at VirtualInvestorConferences.com on September 8, 2021, at 1:30 PM ET. This interactive online event allows investors to engage with the company in real-time. InMed recently improved its proprietary IntegraSyn™ cannabinoid manufacturing approach, achieving a notable yield of 5 g/L, which surpasses industry standards. The company also signed a non-binding letter of intent to acquire BayMedica and is advancing clinical trials for INM-755, a cannabinoid cream for treating Epidermolysis Bullosa.

InMed Pharmaceuticals (Nasdaq: INM) has announced that its President and CEO Eric A. Adams, along with Dr. Eric Hsu, will present at the H.C. Wainwright Ophthalmology Virtual Conference on August 17, 2021. The presentation will focus on InMed’s ocular program and the development of INM-088, a topical eye drop formulation aimed at treating glaucoma. INM-088 utilizes cannabinol (CBN) as its active ingredient, which has shown potential benefits in neuroprotection and reducing intraocular pressure. The presentation will be accessible at 7:00 a.m. ET on the same day.

InMed Pharmaceuticals (Nasdaq: INM) has successfully closed a private placement, raising approximately US$11 million. The placement involved 4,036,327 common shares sold at an effective price of US$2.973 per share and accompanying warrants priced at US$2.848. Funds will support pipeline and business development. The company must file a registration statement with the SEC within ten days. These securities are unregistered and may not be resold in the U.S. without proper registration or exemption.