InMed Pharmaceuticals Inc.
- Open
- 1.59
- Day high
- 1.59
- Day low
- 1.52
- Prev close
- 1.59
- Volume
- 12K
- Mkt cap
- $5M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.7
- P/S
- 1.3
- Yield
- —
- Per share
- —
- ▲Insiders net buying $823K over the last 3 months (26 open-market buys, 0 sales)
InMed Pharmaceuticals Inc. (INM) is a Healthcare company listed on NASDAQ. The stock is down 43% over the past year. Over the trailing 3 months, insiders filed 26 open-market buys and 0 sales (SEC Form 4).
InMed Pharmaceuticals Inc. (INM) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
INM earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $-94.44 | $-0.69 | +99.3% | $1M | -99.8% |
| Feb 11, 2026 | — | $-512954.73 | — | $820M | — |
| Nov 6, 2025 | — | $-0.44 | — | $1M | — |
| Sep 23, 2025 | — | $-3.80 | — | $2M | — |
| Feb 12, 2025 | — | $-3.64 | — | $773M | — |
| Nov 14, 2024 | — | $-54.20 | — | $936161 | — |
| Sep 27, 2024 | — | $-3.80 | — | $938461 | -47.6% |
| Feb 13, 2024 | — | $-3.80 | — | $933778 | -17.4% |
| Nov 14, 2023 | — | $-15.20 | — | $1M | -10.1% |
| May 15, 2023 | $-90.00 | $-12.00 | +86.7% | $764091 | +138.0% |
| Feb 17, 2023 | $-90.00 | $-18.20 | +79.8% | $350117 | -30.0% |
| Nov 11, 2022 | $-85.00 | $-81.20 | +4.5% | $234248 | -53.2% |
INM insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 2, 2026 | Vivo Opportunity, LLC10 percent owner | Buy | 545 | $1.54 |
| Jul 2, 2026 | Vivo Opportunity, LLC10 percent owner | Buy | 55 | $1.54 |
| Jul 2, 2026 | Vivo Opportunity, LLC10 percent owner | Buy | 3,946 | $1.55 |
| Jul 2, 2026 | Vivo Opportunity, LLC10 percent owner | Buy | 398 | $1.55 |
| Jul 2, 2026 | Vivo Opportunity, LLC10 percent owner | Buy | 1,460 | $1.55 |
| Jul 2, 2026 | Vivo Opportunity, LLC10 percent owner | Buy | 147 | $1.55 |
| Jun 10, 2026 | Vivo Opportunity, LLC10 percent owner | Buy | 51,056 | $1.56 |
| Jun 10, 2026 | Vivo Opportunity, LLC10 percent owner | Buy | 14,838 | $1.55 |
| Jun 10, 2026 | Vivo Opportunity, LLC10 percent owner | Buy | 1,632 | $1.57 |
| Jun 10, 2026 | Vivo Opportunity, LLC10 percent owner | Buy | 16,164 | $1.57 |
| Jun 10, 2026 | Vivo Opportunity, LLC10 percent owner | Buy | 3,118 | $1.69 |
| Jun 10, 2026 | Vivo Opportunity, LLC10 percent owner | Buy | 30,882 | $1.69 |
| Jun 10, 2026 | Vivo Opportunity, LLC10 percent owner | Buy | 5,154 | $1.56 |
| Jun 10, 2026 | Vivo Opportunity, LLC10 percent owner | Buy | 2,982 | $1.52 |
| Jun 10, 2026 | Vivo Opportunity, LLC10 percent owner | Buy | 29,518 | $1.52 |
Source: INM SEC Form 4 filings, latest Jul 2, 2026. For informational purposes only — not investment advice.
See the full INM insider & 13F page →InMed Pharmaceuticals Inc. company profile
Overview
InMed Pharmaceuticals Inc. (NASDAQ:INM) is a clinical-stage pharmaceutical company founded in 1981 and headquartered in Vancouver, Canada. Originally incorporated as Cannabis Technologies Inc., the company changed its name to InMed Pharmaceuticals in October 2014 and went public in May 2014. InMed focuses on developing cannabinoid-based therapies for rare diseases and has evolved from early-stage research into clinical trials, with its lead product candidate currently in Phase 2 clinical development for a rare skin condition.
Business
InMed operates in the biotechnology sector, specifically developing pharmaceutical treatments derived from cannabinoids - chemical compounds found in cannabis plants that have potential therapeutic properties. The company's approach differs from traditional cannabis companies by focusing on synthesizing pharmaceutical-grade cannabinoids for specific medical conditions rather than recreational or general wellness applications. The company's pipeline centers on three main product candidates. INM-755 is a topical cream containing cannabinol (CBN) designed to treat epidermolysis bullosa, a rare genetic skin disorder where the skin is extremely fragile and blisters easily. This represents their most advanced program, currently in Phase 2 clinical trials. INM-088 is being developed for glaucoma treatment, targeting the reduction of intraocular pressure that can lead to vision loss. INM-405 is in early development for pain management applications. Beyond drug development, InMed has developed IntegraSyn, a proprietary biosynthesis platform that uses engineered microorganisms to produce pharmaceutical-grade cannabinoids. This manufacturing approach aims to create consistent, scalable production of specific cannabinoids without relying on plant cultivation. The company also operates through its subsidiary BayMedica, which commercializes rare cannabinoids for research and development purposes, though this segment has generated limited revenue to date.
Revenue model
InMed's business model is typical of early-stage pharmaceutical companies, with minimal current revenue and a focus on advancing drug candidates through clinical trials toward eventual commercialization. The company generated approximately $4.6 million in revenue for fiscal 2024, primarily from its BayMedica subsidiary, which sells rare cannabinoids to other research organizations and companies. The company's future revenue potential depends on successfully advancing its drug candidates through clinical trials and regulatory approval. For rare disease treatments like INM-755, successful drugs can command premium pricing due to limited patient populations and high unmet medical need. The glaucoma market for INM-088 represents a much larger commercial opportunity, as glaucoma affects millions of people worldwide. Several factors could significantly impact InMed's future profitability. Positive clinical trial results would likely increase the company's valuation and partnership opportunities with larger pharmaceutical companies. Regulatory approval timelines and requirements from agencies like the FDA directly affect development costs and time to market. The evolving legal and regulatory landscape around cannabinoid-based medicines could either facilitate or complicate the approval process. Competition from other pharmaceutical companies developing treatments for the same conditions could affect market share and pricing power. Additionally, the company's ability to scale its IntegraSyn manufacturing platform cost-effectively will influence profit margins if products reach commercialization.
Competitive moat
InMed's competitive position is relatively weak, typical of early-stage biotechnology companies. The company's primary potential moat lies in its IntegraSyn biosynthesis platform, which could provide manufacturing advantages if it proves more cost-effective and scalable than traditional extraction methods or competitor approaches. However, this technology advantage remains unproven at commercial scale. The company's focus on rare diseases like epidermolysis bullosa provides some protection through the orphan drug pathway, which offers regulatory incentives and market exclusivity periods for approved treatments. However, this advantage is temporary and depends on successful clinical development and regulatory approval. InMed faces significant competitive threats from larger pharmaceutical companies with greater resources, established regulatory expertise, and existing distribution networks. The cannabinoid pharmaceutical space is attracting increasing attention from major players who could develop competing products more rapidly. Additionally, the company's small size and limited cash resources make it vulnerable to being outpaced by better-funded competitors. The lack of patent protection around many cannabinoid compounds themselves means competitive advantages must come from specific formulations, delivery methods, or manufacturing processes, all of which can potentially be replicated or improved upon by competitors.
Risks & safety
InMed's margin of safety is extremely limited, presenting significant financial risks for investors. • **Cash burn and solvency**: The company burned approximately $7.0 million in operating cash flow during fiscal 2024, with only $6.6 million in cash and short-term investments as of June 2024. At current burn rates, the company has less than 12 months of operating runway without additional financing. • **Debt levels**: Minimal debt with debt-to-equity ratio of 0.10, indicating low leverage risk but also limited access to debt financing given the company's pre-revenue status. • **Valuation metrics**: Trading at extremely low multiples due to minimal revenue - Price-to-Book ratio of 4.16 and negative earnings make traditional valuation difficult. Market cap of approximately $3.5 million represents significant downside risk if clinical trials fail. • **Other considerations**: High cash burn relative to market cap, dependence on successful clinical trials for survival, and need for additional financing create substantial dilution risk for existing shareholders.
Recent development
Based on the most recent financial data and the 2022 earnings call, InMed has made several strategic moves while facing significant operational challenges. The company implemented substantial cost-cutting measures including a 25% workforce reduction and 30% reduction in human resource expenses, with leadership taking voluntary salary cuts to preserve cash. The company's clinical development has progressed with INM-755 advancing into Phase 2 trials for epidermolysis bullosa, with data readout expected in early 2023 (now completed). However, management indicated that additional trials would likely be required before potential regulatory filing. For the glaucoma program INM-088, the company completed pre-IND discussions with the FDA and targeted IND filing for the first half of 2024. InMed raised approximately $11 million through private placements in 2022 to extend its operating runway. The company also scaled back commercial efforts for its BayMedica subsidiary due to slower-than-expected demand for rare cannabinoids in the research market, leading to a $3.5 million impairment of intangible assets and goodwill. This strategic pivot reflects management's focus on advancing the core pharmaceutical pipeline rather than expanding the commercial cannabinoid business.
INM company profile · for informational purposes only — not investment advice.
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