InMed Pharmaceuticals Inc. Common Shares - INM STOCK NEWS

InMed Pharmaceuticals has officially launched B2B sales of the rare cannabinoid d9-THCV through its subsidiary BayMedica, targeting the health and wellness sector. Rigorous testing and GMP standards ensure high product quality. Research highlights d9-THCV's potential benefits, including appetite suppression and blood sugar regulation. The cannabinoid market is projected to grow to US$26 billion by 2028 with a CAGR exceeding 20%. InMed aims to solidify its position as a leading supplier in this emerging market.

InMed Pharmaceuticals (Nasdaq: INM) has successfully closed a registered direct offering and a concurrent private placement, raising approximately $5 million. The offerings involved issuing 4,079,256 common shares and 1,748,250 shares at a price of $0.858 each to a healthcare-focused institutional investor. Additionally, InMed issued investment options for purchasing up to 5,827,506 common shares. Proceeds will be used for pipeline development, commercial activities, and general working capital needs. The unregistered options have an exercise price of $0.74, expirating in six and a half years.

InMed Pharmaceuticals has announced a securities purchase agreement with a healthcare-focused institutional investor for the issuance of 4,079,256 common shares at $0.858 each, resulting in gross proceeds of approximately $5 million. This offering includes a concurrent private placement for an additional 1,748,250 shares at the same price. The company plans to utilize the net proceeds for pipeline development and commercial activities. Additionally, existing warrants will be amended to reduce their exercise price to $0.74 per share, enhancing the facility for investors.

InMed Pharmaceuticals Inc. (Nasdaq: INM) reported its Q3 fiscal 2022 results, highlighting advancements in its rare cannabinoid products, including the launches of CBDV and CBT. The company saw a net loss of $10.7 million, or $0.81 per share, compared to a loss of $6.9 million, or $1.11 per share, for the same period last year. InMed's BayMedica segment generated $0.6 million in net sales. The company is also advancing clinical trials for its therapeutic candidates, including INM-755 for Epidermolysis Bullosa and INM-088 for glaucoma. Cash and short-term investments stood at $5.9 million as of March 31, 2022.

InMed Pharmaceuticals (Nasdaq: INM) announced that its subsidiary, BayMedica, will supply rare cannabinoids for Radicle Science's study on the effects of delta-9 dominant tetrahydrocannabivarin (THCV) on health outcomes like energy, focus, appetite, and weight/BMI. This consumer-based research will involve up to 900 participants in a randomized, placebo-controlled trial, beginning participant recruitment in May 2022 and expected to last four weeks. Results will inform consumers and healthcare providers on the efficacy of THCV as part of broader cannabinoid research.

InMed Pharmaceuticals (INM) is transitioning from a pure-play pharmaceutical R&D firm to include commercial sales in the health and wellness market. Upcoming product launches of high-value rare cannabinoids are expected to drive revenue growth. The company is also advancing its pharmaceutical drug programs, including a Phase II trial and preparations for an FDA meeting for its glaucoma drug candidate INM-088. Valuation scenarios have been updated, reflecting a risk-adjusted per basic share value ranging from US$1.5 to US$16.0.

InMed Pharmaceuticals (Nasdaq: INM) has published a patent application for various cannabinoid analogs, enhancing its library of proprietary compounds for pharmaceutical development. The application claims broad protections for these novel cannabinoid-related chemical entities, which may offer improved therapeutic effects over naturally occurring cannabinoids. InMed has initiated a collaboration with Italy's University of L’Aquila to screen these analogs for therapeutic uses.

This initiative aims to address unmet medical needs and solidify InMed's position in rare cannabinoid research and development.

InMed Pharmaceuticals has launched B2B sales of the rare cannabinoid cannabidivarin (CBDV) through its subsidiary, BayMedica, targeting wholesalers and product manufacturers in the health sector. CBDV is non-intoxicating and has therapeutic potential for conditions like autism and epilepsy. As research indicates a growing market for rare cannabinoids, estimated to reach US$26 billion by 2028, InMed aims to secure a reliable supply chain. The company also plans to introduce THCV to its product line soon.

InMed Pharmaceuticals (Nasdaq: INM) announced its participation in various investor events in April and May 2022. Key highlights include:

• Benzinga Spring Cannabis Capital Conference: April 20-21, 2022, Fontainebleau Miami Beach, Florida.
• Canaccord Genuity’s 6th Annual Global Cannabis Conference: May 11, 2022, Virtual.
• H.C. Wainwright Global Investment Conference: May 23-26, 2022, Virtual.

Management will conduct virtual meetings with institutional clients to discuss potential collaborations and the company's pipeline of rare cannabinoid therapeutics.