Sign In  |  Register  |  About Daly City  |  Contact Us

Daly City, CA
September 01, 2020 1:20pm
7-Day Forecast | Traffic
  • Search Hotels in Daly City

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

BioMedNewsBreaks – InMed Pharmaceuticals Inc. (NASDAQ: INM) Releases Financial Results, Business Updates for Q1 2022

InMed Pharmaceuticals (NASDAQ: INM), a leader in the development, manufacturing and commercialization of rare cannabinoids, has reported its financial numbers and corporate update for first-quarter 2022, the period ended Sept. 30, 2021. Highlights of the report included the company’s completion of the BayMedica acquisition, positioning InMed as an industry leader in the manufacturing and commercialization of rare cannabinoids. In addition, InMed is focused on the process optimization of IntegraSyn(TM) as a solution for large-scale, pharmaceutical-grade Good Manufacturing Practice (“GMP”) rare cannabinoid production. The company is also continuing the preclinical studies of its exclusive glaucoma program, INM-088, in preparation for human clinical trials. Finally, earlier this month InMed submitted an international patent application requesting commercial exclusivity for the potential treatment of neurodegenerative diseases such as Alzheimer’s Disease, Parkinson’s Disease, Huntington’s Disease and others. On the financial side, the company closed a $12 million private placement, recorded a net loss of $3 million for the period, and reported R&D expenses of $1.5 million along with general and administrative expenses of $1.4 million. “The first quarter of fiscal 2022 saw positive momentum across all of our programs,” said InMed president and CEO Eric A. Adams in the press release. “With the completion of the BayMedica Inc. acquisition, our integrated teams are working together to identify rare cannabinoids in BayMedica’s pipeline for commercialization in the consumer health and wellness industry. For the duration of fiscal year 2022, we will be focused on growing revenues through the launch of these selected rare cannabinoids, in addition to expanding sales of BayMedica’s Prodiol(R) CBC (cannabichromene) and progressing our existing programs.”

To view the full press releases, visit https://ibn.fm/2tfvw

About InMed Pharmaceuticals Inc.

InMed Pharmaceuticals is a global leader in the manufacturing and development of rare cannabinoids. Together with its subsidiary, BayMedica, the company has unparalleled cannabinoid manufacturing capabilities to serve a spectrum of consumer markets, including pharmaceutical and health and wellness. InMed is a clinical-stage company developing a pipeline of rare cannabinoid therapeutics and dedicated to delivering new treatment alternatives to patients who may benefit from cannabinoid-based pharmaceutical drugs. For more information, please visit www.InMedPharma.com.

NOTE TO INVESTORS: The latest news and updates relating to INM are available in the company’s newsroom at https://ibn.fm/INM

About BioMedWire

BioMedWire (BMW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) BioMedNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. BMW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.

To receive SMS text alerts from BioMedWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)

For more information please visit https://www.BioMedWire.com

Please see full terms of use and disclaimers on the BioMedWire website applicable to all content provided by BMW, wherever published or re-published: http://BMW.fm/Disclaimer

BioMedWire (BMW)
San Francisco, California
www.BioMedWire.com
415.949.5050 Office
Editor@BioMedWire.com

BioMedWire is part of the InvestorBrandNetwork

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 DalyCity.com & California Media Partners, LLC. All rights reserved.