NetworkNewsBreaks – InMed Pharmaceuticals Inc. (
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Posted On: 02/14/2024 4:05:39 PM
NetworkNewsBreaks – InMed Pharmaceuticals Inc. (NASDAQ: INM) Releases Financial Numbers for Q2 2024, Corporate Update
InMed Pharmaceuticals (NASDAQ: INM), a leader in the manufacturing, development and commercialization of rare cannabinoids and proprietary cannabinoid analogs, is reporting on its financial results for Q2 2024, the period ended Dec. 31, 2023. The company also provided a corporate update, including plans to advance two preclinical programs in Alzheimer’s and age-related macular degeneration. Highlights of the report included that the company closed the 2023 calendar year in a cash position of $9.5 million and with 164% revenue growth in business subsidiary, BayMedica. “This period was another strong operational quarter for the company, as we expanded our pharmaceutical pipeline with the launch of two new programs with a particular focus on proprietary small molecule drug development candidates,” said InMed Pharmaceuticals CEO Eric A. Adams in the press release. “As outlined in our 2024 business update last month, we have further accelerated our development efforts in both INM-901 as a potential multimodal treatment option for Alzheimer’s disease and INM-089 in the treatment of age-related macular degeneration. Our commercial subsidiary, BayMedica LLC, continues to grow revenues, up 164% compared to the same three-month period last year. In addition, we ended calendar year 2023 with a cash position of over $9.5 million, allowing us to pursue several material milestones throughout calendar 2024.”
NOTE TO INVESTORS: The latest news and updates relating to INM are available in the company’s newsroom at https://nnw.fm/INM
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
InMed Pharmaceuticals (NASDAQ: INM), a leader in the manufacturing, development and commercialization of rare cannabinoids and proprietary cannabinoid analogs, is reporting on its financial results for Q2 2024, the period ended Dec. 31, 2023. The company also provided a corporate update, including plans to advance two preclinical programs in Alzheimer’s and age-related macular degeneration. Highlights of the report included that the company closed the 2023 calendar year in a cash position of $9.5 million and with 164% revenue growth in business subsidiary, BayMedica. “This period was another strong operational quarter for the company, as we expanded our pharmaceutical pipeline with the launch of two new programs with a particular focus on proprietary small molecule drug development candidates,” said InMed Pharmaceuticals CEO Eric A. Adams in the press release. “As outlined in our 2024 business update last month, we have further accelerated our development efforts in both INM-901 as a potential multimodal treatment option for Alzheimer’s disease and INM-089 in the treatment of age-related macular degeneration. Our commercial subsidiary, BayMedica LLC, continues to grow revenues, up 164% compared to the same three-month period last year. In addition, we ended calendar year 2023 with a cash position of over $9.5 million, allowing us to pursue several material milestones throughout calendar 2024.”
NOTE TO INVESTORS: The latest news and updates relating to INM are available in the company’s newsroom at https://nnw.fm/INM
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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