The company has engineered bioidentical cann-a-binoids with high purity and consistency, and free of T-H-C.
They currently manufacture the rare, minor cann-a-binoids cannabichromene (CBC), tetra-hydro-cannabivarin (d9-T-H-CV), canna-bidivarin (CBDV) and canna-bicitran (CBTC) which are available for B2B purchase.
A Library Of Cann-a-binoid Analogs That Can Be Selectively Modified
Unlike natural cann-a-binoids isolated from the plant which are not patentable, InMed's proprietary cann-a-binoid analogs are patentable and are recognized as new chemical entities (NCEs).
These analogs are expected to offer similar or improved therapeutic effects compared to their parent (naturally occurring) cann-a-binoid with modifications that may make them preferred candidates to treat specific diseases.
InMed is screening these analogs for their therapeutic properties and pharmaceutical development.
Experienced Team With A Successful Track Record
Together, InMed and BayMedica bring extensive know-how in cann-a-binoid science, manufacturing and development.
They've combined our complementary expertise to become a leading manufacturer and developer of high-quality rare cann-a-binoids.
Sources: Company Website. Company Presentation.
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As mentioned above, INM has several time-sensitive potential catalysts to focus on immediately. Here they are:
No. 1 INM Potential Catalyst - An Explosively Low Float Could Turn INM Into A Volatile Situation In An Instant
According to the Yahoo Finance website, INM has a very low float.
The website reports this profile to have approximately 3.31Mn shares in its float.
Why is that important? It's important on one crucial level. Volatility.
With so few shares available, the potential for volatility rises (like when key company developments are announced).
Could more positive company news to close out 2023 help provide a near term spark?
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No. 2 INM Potential Catalyst - BayMedica Sales Increase An Astonishing 280% Over Previous Fiscal Year!
InMed Pharmaceuticals Reports Full Year Fiscal 2023 Financial Results and Provides Business Update
- Completed Phase 2 Clinical Trial demonstrating anti-itch activity of INM-755 (CBN) topical cream
- $4.1Mn revenues in fiscal year 2023, representing a 280% increase over the previous fiscal year and $2.3Mn revenues in fiscal Q4 2023, representing 123% increase quarter over quarter ("QoQ")
- Strengthens pharmaceutical pipeline with launch of INM-900 series program targeting neurodegenerative diseases such as Alzheimer's
Vancouver, British Columbia--(Newsfile Corp. - September 29, 2023) - InMed Pharmaceuticals Inc. (NASDAQ: INM) ("InMed" or the "Company"), a leader in the pharmaceutical research, ..., today announced fi-nan-cial results for the fiscal year ending June 30, 2023 and provided a business update on the pharmaceutical drug development programs as well as the commercial segment for a wholly-owned subsidiary, BayMedica, LLC ("BayMedica").
...
Fi-nan-cial and operating highlights for fiscal 2023:
- Total sales for subsidiary BayMedica of rare cann-a-binoids in the health and wellness sector of $4.1Mn in fiscal year 2023, representing a 280% increase over the previous fiscal year and $2.3Mn in revenue for the three months ended June 30, 2023, a 123% increase QoQ;
...
Eric A. Adams, InMed Chief Executive Officer commented, "In fiscal year 2023, the Company's wholly-owned subsidiary, BayMedica, achieved substantial revenue growth via the supply of rare cann-a-binoids as ingredients to the health and wellness sector. In the January to June timeframe, BayMedica experienced substantial growth, as evidenced by two consecutive quarters of significant revenue increases. While we expect some fluctuations in revenue as ordering patterns in this developing market still mature, we remain optimistic about the long-term growth potential in the rare cann-a-binoids sector as the business dynamics and commercial opp's continue to mature. Additionally, we continue to advance our pharmaceutical pipeline using rare cann-a-binoids for potential therapeutic applications in dermatology, ocular and neurodegenerative disease."
...
Read the full article here.
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No. 3 INM Potential Catalyst - Company Reports INM-755 CBN Cream "Demonstrated Sufficient Clinically Important Anti-itch Activity"
InMed Pharmaceuticals Inc. Announces Results from a Phase 2 Clinical Trial in Epidermolysis Bullosa
- An exploratory clinical evaluation of the Phase 2 clinical trial data showed a positive indication of enhanced anti-itch activity for INM-755 cann-a-binol ("CBN") cream versus the control cream alone.
- The results for non-wound itch were not statistically significant in favor of INM-755 CBN cream due, in part, to the clinically important anti-itch effect of the underlying control cream.
- INM-755 CBN cream demonstrated a favorable safety and tolerability profile.
- InMed will pursue strategic partnership opportunities for INM-755 in epidermolysis bullosa ("EB") and other itch-related skin conditions.
Vancouver, British Columbia--(Newsfile Corp. - June 22, 2023) - InMed Pharmaceuticals Inc. (NASDAQ: INM) ("InMed" or the "Company"), ..., today announced safety and efficacy results from its Phase 2 clinical trial, called 755-201-EB (the "Phase 2 Trial"), for the treatment of symptoms related to EB.
The purpose of the Phase 2 Trial was to evaluate the safety of INM-755 CBN cream, which consists of the control cream plus the active pharmaceutical ingredient CBN, and obtain preliminary evidence of efficacy in treating symptoms and healing wounds over a 28-day period in patients with EB. All four subtypes of inherited EB, including EB Simplex, Dystrophic EB, Junctional EB, and Kindler Syndrome were accepted into the Phase 2 Trial. The Phase 2 Trial used a within-patient, double-blind design whereby matched index areas were randomized to INM-755 CBN cream or control cream.
The Phase 2 Trial enrolled a total of 19 patients. Data from one patient were excluded from efficacy analyses due to a significant protocol deviation. Of the 18 remaining patients whose data were considered reliable for clinical review, 17 were treated for chronic non-wound itch and one patient was treated for wound-related itch. The remaining endpoints (pain, wound healing) could not be analyzed due to too few enrollees with such symptoms.
Of the 18 participants assessed, chronic itch improved by a clinically meaningful amount in 12 patients (66.7%), of whom:
- 6 patients (33.3%) had the same level of itch improvement with INM-755 cream as with control cream;
- 5 patients (27.8%) treated with INM-755 showed meaningful anti-itch activity beyond that of the control cream; and
- 1 patient (5.6%) showed better itch reduction with the control cream.
However, the protocol-specified statistical analyses for non-wound itch were not statistically significant in favor of INM-755 due in part to the clinically important anti-itch effect of the underlying control cream.
As expected based on a Phase 1 safety study (755-101-HV) undertaken by the Company, systemic exposure of CBN was measured at very low concentrations (picograms/mL in plasma). There were no serious drug-related adverse events ("AEs") and there were no withdrawals from treatment. Moderate headaches in one study participant were the only systemic AEs deemed 'possibly related' to study drug. Very few local AEs were reported in the treatment areas; they were transient and resolved without cessation of treatment. The Phase 2 Trial indicated that INM-755 CBN cream was very well tolerated on sensitive EB skin.
"This is an important day for the Company, as we report that INM-755 CBN cream demonstrated sufficient clinically important anti-itch activity to warrant further development. We are very encouraged that INM-755 CBN cream could someday provide itch relief for patients with EB and possibly other diseases," commented Alexandra Mancini, SVP of Clinical and Regulatory Affairs at InMed. "We are deeply grateful for all of the individuals with EB and their families who participated in the study and for the investigators and clinical team who conducted this trial."
InMed's CEO, Eric A. Adams, added, "Despite many challenges associated with conducting an international clinical trial in an orphan disease, compounded by CV19-related disruptions, the InMed and clinical research organization joint team, led by Ms. Mancini, persevered to see this trial through to conclusion. Based on the safety and efficacy data for treating non-wound itch in this EB study, as well as previous safety data from Phase 1 trials, InMed will now seek R&D and commercial partnership opportunities for any continued development of INM-755 CBN cream."
Read the full article here.
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No. 4 INM Potential Catalyst - Key Technicals To Watch: Oversold Leaning Indicators Suggest Important Reversal Potential
As of 1:15PM EST Monday, Barchart was reporting this profile to have several oversold leaning technicals.
These technicals could be signaling a healthy reversal could be approaching in the near term.
Here's the definition of a "reversal" from Investopedia:
"A reversal is a change in the price direction of an asset. A reversal can occur to the upside or downside. Following an uptrend, a reversal would be to the downside. Following a downtrend, a reversal would be to the upside. Reversals are based on overall price direction and are not typically based on one or two periods/bars on a chart."
Now, here are some key technicals (as of 1:15PM EST Monday) that could signal INM to be leaning oversold and on the verge of a potential reversal.
- 9-Day Relative Strength Index: 22.72%
- 14-Day Relative Strength Index: 27.59%
When these numbers drop down to the 30% range and lower, they can be viewed as being in oversold territory. While in this territory, they can paint the picture of a profile that is undervalued.
- 14-Day Raw Stochastic: 27.62%
- 14-Day Williams %R: 72.38%
As the Raw Stochastic nears the 10% range and lower and the Williams %R nears the 90% range or higher, these technical indicators may also be viewed as oversold and undervalued.
Keep an eye on these technicals closely.
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INM Recap - Key Potential Catalysts To Focus On Right Now
No. 1 - An Explosively Low Float Could Turn INM Into A Volatile Situation In An Instant
No. 2 - BayMedica Sales Increase An Astonishing 280% Over Previous Fiscal Year!
No. 3 - Company Reports INM-755 CBN Cream "Demonstrated Sufficient Clinically Important Anti-itch Activity"
No. 4 - Key Technicals To Watch: Oversold Leaning Indicators Suggest Important Reversal Potential
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Coverage is officially reinitiated on INM. When time allows, do this:
