InMed Pharmaceuticals, Inc. Q2 FY2020 earnings call

Biosynthesis and Clinical Programs - Eric Adams discussed progress in biosynthesis platform and clinical development. INM-755 Phase I trial in healthy volunteers is underway, with 50% enrollment completed, expected full enrollment in Q1 2020 and results in H2 2020. A second safety trial for INM-755 on wounded skin is planned for Q2 2020. INM-088 for glaucoma has preclinical results, with data expected from formulation and drug pharmacology studies in Q1 2020. - Bruce Colwill reviewed financials, noting R&D and G&A expense increases, restated financials due to stock option forfeiture adjustment, and cash position with CAD12 million at December 31, 2019.

Research and development spending for the second fiscal quarter was approximately CAD1.9 million, up from CAD1 million in the same period in 2018. General and administration expenses were CAD1 million for the second quarter, up from CAD900,000 in 2018. Net loss for the three months ended December 31, 2019 was CAD3.4 million, and CAD6.7 million for the six months ended December 31, 2019. Cash, cash equivalents, and short-term investments at December 31, 2019 were CAD12 million, down from CAD14.8 million in the previous quarter.

The company will continue to advance its clinical development programs for INM-755 and INM-088. It remains committed to refining its biosynthesis platform. The company is actively pursuing options to meet medium to long-term capital needs.

Statements regarding expectations for business operations, clinical development, etc., constitute forward-looking statements which involve assumptions, risks, and uncertainties. Actual results may differ materially from forward-looking statements. Risks related to clinical development, regulatory approvals, and market acceptance of products are inherent.

Q: What sort of response do you get from clinicians and patients at the EB Congress?

A: Alexandra Mancini stated there was excellent response, with interest in INM-755's topical cream delivery, cannabinoid-based product, and well-designed clinical development plan.

Q: When do you expect to release data from the INM-755 trials?

A: Alexandra Mancini said results of the intact skin trial will come out first in early H2 2020, with results of the wounded skin trial released later.

Q: What's the status of biosynthesis pathways?

A: Michael Woudenberg mentioned they're focusing on two processes, expect to conclude comparison of parameters in a couple of weeks and release information then.

Q: Thoughts on CBN vs THC for glaucoma?

A: Eric Hsu said CBN outperformed in neuroprotection screens compared to other cannabinoids, including THC.

Q: Any chance of grant money for future capital needs?

A: Eric Adams said the company has received grants for biosynthesis from NRC IRAP and will continue to pursue non-dilutive funding sources on a project-by-project basis.