Sign In  |  Register  |  About Corte Madera  |  Contact Us

Corte Madera, CA
September 01, 2020 10:27am
7-Day Forecast | Traffic
  • Search Hotels in Corte Madera

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

CBDNewsBreaks – InMed Pharmaceuticals Inc. (NASDAQ: INM) Releases Q3 Fiscal 2024 Financial Results, Business Update

InMed Pharmaceuticals (NASDAQ: INM), a clinical-stage pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates, is reporting on its financial and business results for the third quarter of 2024, the period that ended March 31, 2024. Business highlights included the announcement of preclinical data supporting both the company’s INM-901 and INM-089 programs; the continued development of its ALZ program, with long-term behavioral and mechanism of action/receptor interaction studies underway; and the announcement of Dr. David G. Morgan, a leader in neurodegenerative disease, to the company’s scientific advisory board. The report also noted that BayMedica is operating as a profitable business unit with revenues totaling $3.3 million for the reported period. Notable financial numbers for the company included net loss of $5.7 million for the quarter ended March 31, 2024; R&D and patents expenses totaling $2.6 million; and cash, cash equivalents and short-term investments coming in at $7.6 million. “The third quarter of fiscal year 2024 was another positive quarter for the company as we continue to make exciting progress in our pharmaceutical pipeline and deliver steady growth in our commercial business,” said InMed Pharmaceuticals president and CEO Eric. A. Adams in the press release. “Last month we announced important updates in our two preclinical programs in the treatment of Alzheimer’s disease (‘ALZ’) and dry Age-Related Macular Degeneration (‘AMD’). Both programs utilize proprietary small molecule drug candidates activating both the CB1/CB2 receptors as well as other disease-relevant receptors. We are highly encouraged by the positive findings, and we are committed to further advancing our research in these two highly underserved indications. Revenues from the BayMedica commercial business remain consistent with the previous quarter, and BayMedica operated as a profitable commercial business unit in the current quarter. We remain optimistic for the sector as more brands start to incorporate rare cannabinoids into their product portfolios.”

To view the full press release, visit https://cnw.fm/1HqRN

About InMed Pharmaceuticals Inc.

InMed Pharmaceuticals is a clinical-stage pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates targeting the CB1/CB2 receptors. InMed’s pipeline consists of three separate programs in the treatment of Alzheimer’s, ocular and dermatological indications. Together with its subsidiary BayMedica, the company is a global leader in the manufacturing, development and commercialization of rare cannabinoids and proprietary cannabinoid analogs. For more information, please visit www.InMedPharma.com.

NOTE TO INVESTORS: The latest news and updates relating to INM are available in the company’s newsroom at https://cnw.fm/INM

About CBDWire

CBDWire (“CBDW”) is a specialized communications platform with a focus on CBD related news and updates in the cannabidiol (“CBD”) sector. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, CBDW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CBDW brings its clients unparalleled recognition and brand awareness.

CBDW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from CBDWire, text “CBDWire” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.CBDWire.com

Please see full terms of use and disclaimers on the CBDWire website applicable to all content provided by CBDW, wherever published or re-published: https://www.CBDWire.com/Disclaimer

CBDWire
Denver, CO
www.CBDWire.com
303.498.7722 Office
Editor@CBDWire.com

CBDWire is powered by IBN

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 CorteMadera.com & California Media Partners, LLC. All rights reserved.