InMed Pharmaceuticals Inc. Q3 FY2021 earnings call

• R&D progress: INM-755 for epidermolysis bullosa (EB) has filed clinical trial applications in multiple European countries and expects to file in Greece and Italy soon, with Phase 2 trial on track to begin in Q3 2021. IntegraSyn manufacturing approach achieved 2g/L cannabinoid yield, enabling commercial viability and scale-up plans. INM-088 for glaucoma has engaged a clinical research organization, scaled up drug product using MiDROPS technology, and expects to file for human trials in H1 2022. BayMedica collaboration ongoing with enzyme testing and import of analog compounds from Health Canada. Increased business development activities. Voluntarily delisted from Toronto Stock Exchange on May 7, with shares trading on NASDAQ.
• Financials: R&D expenses $1.8M in Q3 2021, up from $1.3M in Q3 2020. General and administration expenses $1.3M, up due to being a U.S. registrant. Net loss $3.1M in Q3 2021. Cash, cash equivalents, and short-term investments $9.5M as of March 31, 2021, up from $5.8M on June 30, 2020.

No specific product segments with detailed financial performance and revenue contribution % provided in the transcript.

• Bruce Colwill stated they need to update cash flow timing as Phase 2 trial ramps up and will provide updated guidance on the next earnings call. The cash burn seen in the last quarter is indicative of go-forward spending for the next couple of quarters, potentially slightly lower but in a similar range.

No detailed discussion of specific risks in the transcript, but forward-looking statements involve assumptions, risks, and uncertainties as noted in the opening disclosure.

Q: Why aren't trials conducted in the U.S. for 201 study?

A: They chose Europe for cost-effectiveness, as they felt it was more cost-effective to run the 20-patient trial in Europe rather than parallel organizations in North America, and they had experience with European sites from prior EB trials.