InMed Pharmaceuticals Inc. Common Shares - INM STOCK NEWS

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.

InMed Pharmaceuticals (Nasdaq: INM) has initiated its Phase 2 clinical trial for INM-755, a cannabinol cream, targeting the treatment of Epidermolysis Bullosa (EB). This trial comprises 20 patients across 11 sites in seven countries, with initial patient screening commencing in Austria. Previous studies indicate INM-755 may effectively alleviate EB symptoms. This milestone reinforces InMed's commitment to developing cannabinoid therapies, with further advancements in glaucoma treatments anticipated in the near future.

InMed Pharmaceuticals (Nasdaq: INM) announced its fiscal year 2021 results, reporting a net loss of $10.2 million, or $1.52 per share, compared to a loss of $8.9 million, or $1.71 per share in FY2020.

The company achieved a 5 g/L cannabinoid yield with its IntegraSyn™ process and is set to acquire BayMedica Inc. to enhance its rare cannabinoid manufacturing capabilities. Additionally, clinical trials for INM-755 for epidermolysis bullosa are underway, with patient enrollment expected soon.

InMed Pharmaceuticals has announced a definitive agreement to acquire BayMedica in an all-stock transaction valued at approximately US$4m. InMed will issue 1.78 million shares to BayMedica's equity and convertible debt holders. The acquisition aims to enhance expertise in cannabinoid manufacturing and commercialization, with a combined revenue exceeding US$2.5m since December 2019. Additionally, InMed's valuation has increased to US$242m or US$20.03 per share, despite a decrease in per-share value due to a higher share count.

InMed Pharmaceuticals Inc. (Nasdaq: INM) will announce its financial results for the fiscal year ending June 30, 2021, on September 24, 2021. The Company is focused on the development of rare cannabinoid pharmaceuticals, particularly cannabinol (CBN), and utilizes its proprietary IntegraSyn™ technology to produce pharmaceutical-grade cannabinoids. A conference call will occur at 8:00 AM PT, with access details provided for participants. Full financial statements and the MD&A will be available on the Company's website and SEDAR after the results are released.