InMed Pharmaceuticals (NASDAQ: INM), a leader in the pharmaceutical research, development and manufacturing of rare cannabinoids and cannabinoid analogs, is reporting on its second quarter of fiscal year 2023, the period that ended Dec. 31, 2022. Highlights of the report include the company closing the calendar year with nearly $11.5 million in cash and the completion of enrollment in the company’s phase 2 clinical trial in epidermolysis bullosa (“EB”). The report also noted that the company has seen advancement in its research using rare cannabinoids in the treatment of glaucoma and neurodegenerative diseases such as Alzheimer’s, Huntington’s and Parkinson’s. “This period was another strong operational quarter for the company as we advanced our pharmaceutical programs, including the launch of INM-900 series compounds for the evaluation of neurodegenerative diseases,” said InMed Pharmaceuticals president and CEO Eric A. Adams in the press release. “We are currently approaching the end of enrollment in our phase 2 clinical trial in epidermolysis bullosa. As we move into calendar 2023, we have a strong pipeline of programs at various stages of development. Fiscal Q2 saw significant cost savings across the different business segments resulting in a reduced cash burn. In addition, our strong cash position of over $11 million enables us to pursue several material milestones throughout calendar 2023.”
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About InMed Pharmaceuticals Inc.
InMed Pharmaceuticals is a global leader in the research, development and manufacturing of rare cannabinoids, including clinical and preclinical programs targeting the treatment of diseases with high unmet medical needs. The company also has significant know-how in developing proprietary manufacturing approaches to produce cannabinoids for various market sectors. For more information, please visit www.InMedPharma.com.
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