InMed Pharmaceuticals Releases Q1 2022 Financial Results, Business Update

• InMed Pharmaceuticals released Q1 2022 financial results in which it reported a year-on-year increase in research and development expenses primarily due to increased activities related to INM-755 clinical trials
• The company’s cash, cash equivalents, and short-term investments also grew quarter over quarter from $7.4 million to $15.4 million
• Following the closing of BayMedica’s acquisition, the integrated teams are working together with a focus on launching selected rare cannabinoids, growing revenue, and expanding sales
• InMed has commenced Phase 2 clinical trial of INM-755 (cannabinol) cream for the treatment of a group of rare skin disorders
• Preclinical data of INM-088, the company’s cannabinol (“CBN”) formulation for the treatment of glaucoma, show CBN’s effectiveness in reducing cell death in retinal ganglion cells

For the three months ending September 30, 2021 (“Q1 2022”), InMed Pharmaceuticals INM, a global leader in pharmaceutical development, manufacturing, and commercialization of rare cannabinoids, witnessed positive momentum across all of its programs. And in a business update accompanying the release of its Q1 2022 financial results, the company discussed this momentum in relation to the progress made thus far (https://cnw.fm/dLKoa).

On October 13, InMed closed the previously announced (https://cnw.fm/1zsA6) acquisition of BayMedica Inc., in a transaction that created an industry leader in the manufacture and commercialization of…

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

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The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. The content was purely for informational purposes only and not intended to be investing advice.