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InMed Pharmaceuticals Inc. (NASDAQ: INM) is a leading Canadian clinical-stage biopharmaceutical company at the forefront of cannabinoid research and development. Specializing in the creation of novel therapies, InMed harnesses the extensive pharmacology of cannabinoids, combined with cutting-edge drug delivery systems.
InMed's innovative approach includes a robust product pipeline featuring:
- INM-755: A topical cream for the treatment of epidermolysis bullosa, a rare skin condition.
- INM-088: An ophthalmic formulation targeting glaucoma to preserve retinal function.
- INM-901: A promising treatment for Alzheimer's disease, showing multiple mechanisms of action to improve cognitive and memory functions.
- INM-089: Aimed at treating age-related macular degeneration (AMD), focusing on retinal protection and functionality.
The company's proprietary IntegraSyn manufacturing system ensures the production of high-quality pharmaceutical-grade cannabinoids, positioning them as a key player in the industry.
InMed's recent achievements include:
- Completion of a Phase 2 clinical trial for INM-755.
- Initiation of two new preclinical programs for Alzheimer's and AMD.
- Strong financial performance with significant revenue growth from its subsidiary BayMedica, which supplies rare cannabinoids to the health and wellness sector.
InMed's commitment to advancing cannabinoid science is evident through its strategic partnerships, rigorous research, and innovative product development, making significant strides in treating diseases with high unmet medical needs. For more information, visit www.inmedpharma.com.
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.
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