InMed Pharmaceuticals Inc. Common Shares - INM STOCK NEWS

InMed Pharmaceuticals (Nasdaq: INM) shared insights on its growth strategy and accomplishments in a letter from CEO Eric A. Adams. The company emphasizes the therapeutic potential of rare cannabinoids, bolstered by the acquisition of BayMedica, which enhances its position as a leader in cannabinoid manufacturing. In 2022, InMed aims to launch new products and advance its pharmaceutical programs, including the INM-755 trial for Epidermolysis Bullosa and INM-088's glaucoma research. As of September 30, 2021, cash reserves stood at $15.4 million, enabling further development and commercialization initiatives.

InMed Pharmaceuticals Inc. (Nasdaq: INM) will be featured in a webinar entitled "Addressing The Increasing Demand For Rare Cannabinoids" on January 6, 2022. The event will include presentations from CEO Eric A. Adams, SVP Shane Johnson, and VP Chris Meiering. Attendees can register to participate for free via Tribe Public. InMed specializes in developing and commercializing rare cannabinoids for various markets, including pharmaceuticals and wellness. The company is committed to providing innovative cannabinoid-based therapies.

InMed Pharmaceuticals Inc. (Nasdaq: INM) has announced the publication of a peer-reviewed scientific article about the potential of cannabinol (CBN) in treating glaucoma. The article, published in Biochimica et Biophysical Acta, highlights CBN's ability to promote neuroprotection in retinal cells and normalize intraocular pressure, showing promise over other cannabinoids like CBD and THC. InMed's scientific advisor emphasized this milestone as validation for their glaucoma development program, which aims to address the significant unmet medical need for neuroprotective treatments.

InMed Pharmaceuticals Inc. (Nasdaq: INM) held its annual general meeting on December 17, 2021, where shareholders approved all proposed matters, including the election of directors. The voting results reflected significant shareholder support, with all director nominees receiving over 90% approval. Eric A. Adams, Adam Cutler, William J. Garner, Andrew Hull, and Catherine Sazdanoff were all elected to hold office until the next meeting. Full voting results have been reported on SEDAR.

InMed Pharmaceuticals Inc. (Nasdaq: INM) will participate in Cowen’s 4th Annual Cannabis Conference, scheduled virtually from November 29 to December 1, 2021. InMed's management plans to engage in one-on-one meetings with institutional clients. This three-day conference features insightful panel discussions led by industry experts, covering trends and innovations in the cannabis space. As a leading developer of rare cannabinoids, InMed aims to advance therapeutic alternatives for patients. For more details, visit their official site.

InMed Pharmaceuticals announced significant developments following the acquisition of BayMedica, marking its transition into a commercial stage. The company is now selling cannabichromene (CBC) in bulk and has initiated the Phase II trial of INM-755 involving up to 20 patients with epidermolysis bullosa. Despite a slight adjustment in valuation to US$290 million per share dropping to US$20.53, this reflects an increase in outstanding shares. InMed's cash and marketable securities stood at US$15.4 million as of September 30, 2021, with an expected US$11 million to be raised in FY23.

InMed Pharmaceuticals (Nasdaq: INM) reported its Q1 fiscal 2022 results, ending September 30, 2021, highlighting significant positive momentum across its programs, including the completion of the BayMedica acquisition. The company aims to enhance revenues through the commercialization of rare cannabinoids. They reported a net loss of $3 million, or $0.25 per share, compared to a loss of $1.6 million, or $0.31 per share, in Q1 2021. Cash reserves rose to $15.4 million, up from $7.4 million in the previous quarter, primarily due to a $12 million private placement.

On November 3, 2021, InMed Pharmaceuticals (Nasdaq: INM) announced the filing of an international patent application related to a rare cannabinoid aimed at treating neurodegenerative diseases, including Alzheimer’s and Parkinson’s. The patent demonstrates neuroprotection and enhances neuronal function. This application expands InMed's patent portfolio, now including twelve patent families, strengthening its strategy in rare cannabinoid pharmaceutical development.

InMed Pharmaceuticals Inc. (Nasdaq: INM) has successfully completed its acquisition of BayMedica Inc., specializing in rare cannabinoids for health and wellness. The acquisition includes the issuance of 2.05 million InMed common shares and a cash component of $1 million, with a six-month hold period. This strategic move aims to enhance InMed's pharmaceutical drug development and manufacturing capabilities, positioning it as a leader in the cannabinoid market. InMed plans to integrate BayMedica's expertise and accelerate revenue growth through new product launches in the consumer health sector.