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 Inc. (Nasdaq: INM) will be represented by President and CEO Eric A. Adams and SVP of Preclinical Research and Development Eric Hsu during a webinar event titled "Exploring the Neuroprotective Qualities of Rare Cannabinoids". The event is scheduled for November 17, 2022, starting at 8:30 am Pacific/11:30 am Eastern. Interested participants can register for the complimentary event at Tribe Public's website. InMed focuses on researching and developing rare cannabinoids for various medical applications, addressing high unmet medical needs.
InMed Pharmaceuticals (Nasdaq: INM) announces support for Epidermolysis Bullosa (EB) Global Awareness Week from October 25-31, 2022. The company aims to raise awareness about EB, a rare genetic skin disorder characterized by fragile skin and blisters. Senior VP Alexandra Mancini emphasized the importance of the disease and the company's Phase 2 study on a cannabinol cream for symptom relief. InMed will share educational content and personal stories via social media during this week, collaborating with organizations like DEBRA to support the EB community.
InMed Pharmaceuticals (Nasdaq: INM) reported financial results for the fiscal year ending June 30, 2022, revealing a net loss of $18.6 million, up from $10.2 million the previous year. Research and development expenses rose to $7.3 million from $5.3 million, driven by increased clinical activities. The company has initiated a Phase 2 clinical trial for INM-755, targeting epidermolysis bullosa, with nine patients enrolled so far. Following a strategic realignment, InMed will focus on its pharmaceutical drug development while scaling back on its BayMedica subsidiary.
InMed Pharmaceuticals Inc. (Nasdaq: INM) will release its financial results for the fiscal year ending June 30, 2022, on September 23, 2022. The company specializes in rare cannabinoids and aims to address diseases with unmet medical needs through its clinical programs. A conference call and webcast will be held at 10:00 AM PT on the same day. Participants are encouraged to register in advance to receive dial-in details. Financial statements will be available on their official website and SEDAR.
InMed Pharmaceuticals announced the closing of a private placement of 691,245 common shares at $8.68 each, raising about $6 million. The funds will support pipeline development, enhance manufacturing capabilities, and bolster intellectual property efforts. Investors also received options to purchase up to 1,382,490 additional shares at $8.44 each, valid for seven years. This placement, arranged by H.C. Wainwright & Co., is exclusively for accredited investors under SEC regulations. The securities will not be offered in the U.S. until registered or exempt from registration.
On September 9, 2022, InMed Pharmaceuticals (Nasdaq: INM) announced a securities purchase agreement with institutional investors for the sale of 691,245 common shares at $8.68 per share, aiming to raise approximately $6 million. The offering is expected to close on or about September 13, 2022. The proceeds will fund pipeline development, manufacturing, and intellectual property initiatives. Additionally, the company will issue unregistered preferred investment options for up to 1,382,490 shares.
InMed Pharmaceuticals Inc. (Nasdaq: INM) announced updates on its research and development efforts, including plans to complete enrollment in a Phase 2 clinical trial for epidermolysis bullosa by year-end. Despite enthusiasm for its cannabinoid analog program following the BayMedica acquisition, market demand for BayMedica's products in the Health & Wellness sector has declined, leading to uncertainty in revenues and an expected non-cash impairment charge of approximately $3.5 million. The company plans to refocus on its pharmaceutical drug development, reducing its exposure to the H&W market.
InMed Pharmaceuticals Inc. (Nasdaq: INM) announced a consolidation of its share capital, reducing the number of outstanding shares from approximately 18 million to 720,597 on a 1-for-25 basis. This move aims to regain compliance with Nasdaq's continued listing requirements. The consolidation will not change the ownership percentage for shareholders. Trading of the post-consolidation shares will commence on September 7, 2022, with the trading symbol 'INM' and a new CUSIP number. Registered shareholders will receive instructions via mail, and no fractional shares will be issued.
InMed Pharmaceuticals (Nasdaq: INM) has appointed Nicole Lemerond to its Board of Directors, enhancing its financial and healthcare expertise. Lemerond, a seasoned financial executive with over 25 years of experience, takes over from Adam Cutler, who stepped down after serving since 2015. The transition aims to bolster InMed's strategic initiatives as it continues to lead in the research and commercialization of rare cannabinoids. This change is expected to strengthen management and contribute to value creation for stakeholders.
InMed Pharmaceuticals (Nasdaq: INM) announced key developments in its Phase 2 clinical trial for INM-755 cannabinol cream targeting epidermolysis bullosa (EB). The trial has expanded to include adolescents aged 12-17 after safety data review, with the first adolescent patient successfully enrolled and treated. Additionally, a patent for CBN's use in EB treatment has been granted in Japan, enhancing InMed's intellectual property portfolio. Currently, eight clinical trial sites across Europe are activated, with two more expected soon, aiming for 20 enrolled patients by the end of 2022.
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