Welcome to our dedicated page for InMed Pharmaceuticals Common Shares news (Ticker: INM), a resource for investors and traders seeking the latest updates and insights on InMed Pharmaceuticals Common Shares stock.
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 reported a robust financial position with $11.5 million in cash as of December 31, 2022, reflecting a year-over-year increase. The company is nearing the enrollment completion of its Phase 2 clinical trial for Epidermolysis Bullosa, targeting 20 patients. Revenue from its BayMedica segment surged to $0.8 million, a 198% increase compared to the previous fiscal year, driven by enhanced marketing efforts. The net loss for the six months ending December 31, 2022, was reduced to $5.6 million from $7.3 million in the same period last year, indicating improved operational efficiency. InMed aims to leverage its strong cash reserves to achieve critical milestones in 2023.
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