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 Inc. announced a private placement to raise approximately US$4.5 million at US$4.25 per unit, with each unit consisting of one common share and 0.66 warrant. The exercise price for the warrants is set at US$4.85, with an expected close date of February 12, 2021. After fees, net proceeds are anticipated to be around US$4.0 million for working capital. Roth Capital Partners acted as the exclusive placement agent. The announcement includes forward-looking statements regarding regulatory approvals and the potential success of its cannabinoid-based therapies.
InMed Pharmaceuticals Inc. (NASDAQ:INM) announced participation in the virtual 2021 Cannabinoid-Derived Pharmaceuticals Industry Review Summit Europe from January 19-21, 2021. Key executives, including Michael Woudenberg, Karen Long, and Prof. Mauro Maccarrone, will share insights on cannabinoid therapeutics. Woudenberg will discuss the comparison of whole plant and synthetic cannabinoids, while Long will focus on drug approval processes. Maccarrone will address endocannabinoid signaling in his lecture. CEO Eric A. Adams highlighted the company's progress in therapeutic development.
InMed Pharmaceuticals Inc. (NASDAQ: INM, TSX: IN) announced promising top-line results from its 755-102-HV Phase 1 clinical trial evaluating INM-755 cream for treating epidermolysis bullosa. The trial, involving 8 healthy volunteers, demonstrated that the cream was safe and well-tolerated, with no significant adverse effects noted. Notably, the cream did not impede normal wound healing. Following this success, InMed is preparing to file regulatory applications for a Phase 2 efficacy and safety study in multiple countries within the first half of 2021.
InMed Pharmaceuticals (NASDAQ: INM) will participate in several virtual investor and partnering conferences in January 2021. Key events include the H.C. Wainwright BioConnect Conference from January 11-14, where a presentation by CEO Eric A. Adams will be available on demand. Additionally, the BIO Partnering at JPM will occur January 11-15, with registration options available. The Edison Open House: Global Healthcare 2021 is set for January 26-28. InMed focuses on developing cannabinoid-based medications for diseases with significant unmet medical needs.
InMed Pharmaceuticals has secured an exclusive worldwide license from EyeCRO for its MiDROPS® eyedrop delivery technology, enhancing the development of INM-088 for treating ocular diseases, including glaucoma. This technology aims to effectively administer cannabinoids to the eye. InMed's preliminary studies show that MiDROPS® delivers sustained CBN levels more effectively than other formulations. The agreement includes milestone payments and royalties to EyeCRO. InMed plans to initiate IND-enabling toxicology studies for INM-088 in 2021.
InMed Pharmaceuticals (NASDAQ: INM) has announced positive top-line results from its Phase 1 clinical trial, Study 101, for INM-755, a cannabinol (CBN) cream targeting epidermolysis bullosa (EB). Conducted with 22 healthy volunteers, the study showed that INM-755 was safe and well-tolerated, with no serious adverse effects or withdrawals. Local skin responses were minimal and resolved without intervention. The next Phase 1 trial, Study 102, investigating the effect of INM-755 on small epidermal wounds, is expected to report results in early 2021.
On November 24, 2020, InMed Pharmaceuticals confirmed the successful election of its director nominees during the annual general meeting held on November 20, 2020. Shareholders approved all proposed matters, including the election of directors to serve until the next annual meeting. Notable voting percentages include Eric A. Adams with 90.84% and Adam Cutler with 93.01% in favor. InMed is focused on developing cannabinoid-based medications, particularly targeting diseases with high unmet medical needs.
InMed Pharmaceuticals Inc. (NASDAQ:INM) has announced a collaboration with BayMedica Inc. to explore synergies between their technologies for cannabinoid production and therapeutic applications. Under their Collaborative Research Agreement, BayMedica will utilize InMed's IntegraSyn platform for cannabinoid production, while InMed will investigate therapeutic compounds from BayMedica's library. Successful outcomes could lead to technology licensing between the firms. Both companies aim to develop innovative cannabinoid-based medications, targeting diseases with high unmet medical needs.
InMed Pharmaceuticals has successfully closed a public offering raising approximately US$8 million by selling 1,780,000 common shares at US$4.50 per share, paired with warrants at an exercise price of US$5.11. The offering was conducted by Roth Capital Partners, with an option for underwriters to purchase an additional 267,000 shares. The funds will support the development of cannabinoid drug candidates like INM-755 for dermatology and INM-088 for ocular diseases, alongside working capital and manufacturing enhancements.
InMed Pharmaceuticals reported a net loss of $2.1 million or $0.41 per share for the first quarter of fiscal year 2021, a reduction from a $3.4 million loss in the same period last year. Research and development expenses fell to $1.2 million from $2.3 million due to decreased costs for external contractors. Overall cash reserves decreased to $6.1 million as of September 30, 2020, down from $8.0 million at June 30, 2020, largely due to operating cash outflows. The company plans to close announced financing on November 16, 2020.
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