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INM

InMed Pharmaceuticals Inc.

InMed Pharmaceuticals Inc. Q2 FY2021 earnings call

February 11, 2021 · fiscal period ended 2020-12

EPS · actual vs est

$-185.00 / $-120.00Miss -54.2%

Revenue · actual vs est

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Summary

Generated 2021-02-11

Management highlights

  • Acknowledged the impact of COVID-19 on operations but noted minimal initial impact, with some delays due to third-party service provider restrictions. - Achieved key clinical and business development milestones in Q2 2021, including closing an $8 million financing and a $4.5 million private placement, extending cash runway. - Highlighted achievements in therapeutic development: INM-755 Phase I trials showed safety/tolerability; INM-088 preclinical results on IOP relief and neuroprotection; IntegraSyn platform advancing with collaboration with BayMedica.
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Segment performance

No detailed breakdown of financial performance by product segments with revenue contribution percentages provided in the transcript.

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Guidance

  • Previously had cash runway into Q3 2021; after the private placement, will update cash runway guidance. - Plan to file clinical trial applications for INM-755 Phase II in Q2 2021 and initiate patient enrollment in H2 2021; plan to file applications for INM-088 in H1 2022 for human clinical testing.
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Risks

  • Impact of COVID-19 on third-party service providers causing delays in timelines. - Uncertainties in clinical trial outcomes, regulatory approvals, and commercialization of products.
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Q&A highlights

Q: On the INM-755 Phase II trial, what geographical area?

A: European area selected as most cost-effective.

Q: On IntegraSyn partnerships, expected in 2021?

A: Will engage other cannabinoid manufacturers but outcomes uncertain.

Q: On G&A spending, future outlook?

A: G&A will be higher going forward due to increased costs from financings, compliance, etc.

Q: Changes to Phase II trial design based on Phase I?

A: Trial design built on Phase I learnings but no major changes.

Q: BayMedica collaboration prospects?

A: Research collaboration; results expected in H1 2021 to assess potential licensing deals.

Q: GW Pharma acquisition relevance?

A: Shows potential of cannabinoid-based pharmaceuticals, aligning with InMed's path.

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Key numbers

Reported versus consensus

Earnings calendar feed

MetricReportedConsensusDeltaPrior year
EPS$-185.00$-120.00-54.2%$-0.66
Revenue

Transcript

February 11, 2021

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Prior quarters

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