Bullish indicating open at $55-$60, IPO prices at $37
VANCOUVER - InMed Pharmaceuticals Inc. (NASDAQ:INM), a micro-cap pharmaceutical company with a market capitalization of approximately $3 million, announced Tuesday that its drug candidate INM-901 significantly reduced inflammation markers in laboratory tests using animal brain tissue, potentially advancing its development as an Alzheimer’s disease treatment. According to InvestingPro data, the company’s stock has declined over 47% in the past six months, reflecting the challenging environment for early-stage pharmaceutical companies.
The preclinical study evaluated INM-901 in an ex vivo model of lipopolysaccharide-induced inflammation, designed to trigger expression of pro-inflammatory cytokines. According to the company’s press release, the treatment demonstrated a dose-dependent reduction in several inflammatory markers, including IL-6, IL-1β, IL-2, and KC/Gro, as well as the inflammasome marker NLRP3. While the company shows promise in its research, InvestingPro analysis indicates the company’s financial health score remains "FAIR" with a particular emphasis on its rapid cash utilization.
"The data derived from this LPS-induced inflammation study further support our previous findings in the amyloid beta animal model following INM-901 treatment," said Dr. Eric Hsu, SVP of Preclinical Research & Development at InMed.
The company highlighted that INM-901 appeared to reduce inflammation independent of amyloid-beta or tau pathology, suggesting potential applications beyond Alzheimer’s disease.
NLRP3, one of the markers reduced by INM-901, has been linked to various neurodegenerative conditions including Alzheimer’s and Parkinson’s diseases.
InMed described INM-901 as a small molecule drug candidate that acts as a preferential signaling agonist of CB1/CB2 receptors and affects peroxisome proliferator-activated receptors. The company stated it can be administered orally and achieve therapeutic levels in the brain.
The pharmaceutical company plans to conduct additional preclinical studies before advancing to IND-enabling studies. The announcement represents the latest development in InMed’s pharmaceutical pipeline, which includes programs targeting Alzheimer’s, ocular, and dermatological conditions. Financial data from InvestingPro shows the company maintains a strong current ratio of 3.49 and holds more cash than debt on its balance sheet, providing some runway for its development programs. Subscribers to InvestingPro can access 8 additional key insights about InMed’s financial position and growth prospects.
In other recent news, InMed Pharmaceuticals announced the cancellation of its previously scheduled special shareholder meeting. The cancellation was communicated through Odyssey Trust Company, acting as InMed’s agent, and was filed with Canadian securities authorities. The company did not provide specific reasons for this decision in the amended notice. Earlier, InMed Pharmaceuticals had scheduled a special shareholder meeting for June 13, 2025, as part of its regular compliance and communication efforts with shareholders. This announcement was made on April 4, 2025, and the details were submitted to the System for Electronic Document Analysis and Retrieval (SEDAR) in Canada. The provided information regarding the meeting was not considered filed under Section 18 of the Securities Exchange Act of 1934. InMed Pharmaceuticals is recognized as an emerging growth company and is subject to certain reporting requirements. These developments highlight the company’s ongoing engagement with investors and compliance with regulatory standards in both the United States and Canada.
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