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) 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.
InMed Pharmaceuticals Inc. (NASDAQ: INM) has requested a hearing before the Nasdaq Listing Qualifications Panel to appeal the determination by the Nasdaq Staff regarding the company's non-compliance with the minimum bid price requirement of $1.00 for continued listing on the Nasdaq Capital Market. The hearing is scheduled for October 31, 2024.
InMed had previously been granted a 180-day compliance period until September 16, 2024, to regain compliance. The company received a delisting notice on September 17, 2024, indicating it did not meet the requirement by the compliance date. The appeal has stayed any delisting or suspension action pending the Panel's final decision.
The Panel has discretionary authority to grant InMed up to an additional 180 calendar days from September 16, 2024, to regain compliance. However, there is no guarantee of a favorable outcome for the company.
InMed Pharmaceuticals (NASDAQ: INM) has strengthened its patent portfolio with the issuance of three U.S. patents. These patents cover formulation and method of use for treating epidermolysis bullosa, biosynthesis manufacturing processes, and an ocular drug delivery formulation. The company now has 13 patent families covering various aspects of its drug development programs.
Key highlights include:
- A method of use patent for INM-755, which has completed a Phase 2 clinical trial for epidermolysis bullosa
- A biosynthesis patent for manufacturing proprietary analogs
- An ocular drug delivery formulation patent granted in multiple jurisdictions
InMed continues to pursue patents for its INM-901 program in Alzheimer's disease and INM-089 in dry Age-related Macular Degeneration.
InMed Pharmaceuticals (NASDAQ: INM) announces the preclinical success of its proprietary small molecule drug candidate, INM-901, as an oral formulation for Alzheimer's disease. Studies show that orally administered INM-901 achieves therapeutic brain concentrations comparable to intraperitoneal injections over 24 hours. This method may reduce treatment costs and avoid gastrointestinal absorption challenges faced by current large molecule therapies. Further research on drug metabolism, dose responses, and pharmacokinetics is ongoing to support future clinical trials.
InMed Pharmaceuticals (NASDAQ: INM) has announced positive results from a long-term (7 months) preclinical Alzheimer's Disease (AD) study of INM-901, confirming previous short-term (3 months) pilot study findings. The study, conducted using the 5xFAD amyloidosis model, showed improvements in cognitive function, memory, and locomotor activity in INM-901-treated AD groups compared to placebo-treated groups.
Key points:
- INM-901-treated AD groups showed positive trends towards behavior similar to untreated disease-free groups
- Statistically significant improvements were achieved in certain behavioral criteria
- Results supported and improved upon prior short-term pilot study outcomes
- Further molecular analyses are ongoing to define mechanisms of action
- Development of chemistry, manufacturing, and controls (CMC) is in progress
- GLP studies are being planned to support an IND submission
InMed Pharmaceuticals (NASDAQ: INM) announced that it will present at the Emerging Growth Conference on June 13, 2024, at 1:45 PM EDT. CEO Eric A. Adams will provide a corporate overview followed by a Q&A session. The presentation will be accessible via live webcast, with an archived version available later on EmergingGrowth.com, Emerging Growth YouTube Channel, and InMed's investor relations page.
InMed Pharmaceuticals (NASDAQ: INM) released its financial results for Q3 fiscal 2024, ending March 31, 2024.
The company reported positive preclinical data for its Alzheimer's disease (INM-901) and dry AMD (INM-089) programs. InMed closed the quarter with $7.9 million in cash.
The BayMedica commercial business earned $3.3 million over nine months, an 83% increase from the previous year. Q3 revenues remained flat at $1.2 million, with BayMedica operating profitably.
The company recorded a net loss of $5.7 million for the quarter, down from $7.6 million the previous year. R&D and patents expenses dropped to $2.6 million from $3.1 million. Cash reserves should cover expenses into Q4 2024.
Notably, Alexandra Mancini, SVP Clinical & Regulatory Affairs, will retire effective June 30, 2024.
FAQ
What is the current stock price of Inmed Pharmaceuticals (INM)?
What is the market cap of Inmed Pharmaceuticals (INM)?
What does InMed Pharmaceuticals Inc specialize in?
How does the company generate its revenue?
What are the core therapeutic areas of InMed?
How does InMed protect its innovations?
How is InMed different from other biopharmaceutical companies?
What key product candidates are under development?
