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Flair 09 out of the ashes re emerges, one of the biggest Inmed pumpers in history. Even he's out so the situation must be grave
This company is disgusting, I'm so glad I got out a few months back and made up my Inmed losses elsewhere. Good riddance!
Adams and crew scum of the earth
Anyone else catch this sneaky move by Adams and company?
I was looking over section 5.02 (compensatory arrangements of certain officers) and look what I found. The last pp in Feb. was done so that Adams, Colwill and Mancini could get a bonus! Well, well, well. How shocking.....
(f) Disclosure of Bonus Omitted From Summary Compensation Table of Registration Statement
As disclosed under the Summary Compensation Table in InMed Pharmaceuticals Inc.’s (the “Company’s”) registration statement on Form S-1, as amended, filed on October 8, 2020 and effective with the Securities Exchange Commission on November 12, 2020 (the “Registration Statement”), certain compensation of Eric A. Adams, the Company’s Chief Executive Officer and President, Bruce Colwill, the Company’s Chief Financial Officer and Secretary, and Alexandra Mancini, our Senior Vice President, Clinical and Regulatory Affairs (together, the Company’s “NEOs”) for the fiscal year ended June 30, 2020 could not be calculated as of the date of the filing of the Registration Statement, as such compensation had not yet been determined by the Company’s Compensation Committee. The Registration Statement mistakenly stated that the amounts unable to be determined at the time of filing were non-equity incentive plan compensation, but should have indicated that such undetermined amounts were bonus awards.
Subsequently, on November 30, 2020, the NEOs were awarded bonuses as follows: Mr. Adams received $67,505, Mr. Colwill received $42,580 and Ms. Mancini received $38,284. This award reflected 50% of the NEOs potential bonus.
In addition, on February 26, 2021, following the completion of the Company’s private placement on February 12, 2021, the NEOs received additional bonus amounts, equal to the November 30, 2020 awards, as follows: Mr. Adams received $67,505, Mr. Colwill received $42,580 and Ms. Mancini received $38,284.
Adams and his crew are literally giving themselves bonuses to dilute the company into oblivion!
InMed Pharmaceutical (INM)
3.05 ? 0.02 (0.66%)
Volume: 62,065 @04/16/21 7:08:07 PM EDT
Bid Ask Day's Range
2.93 4.02 2.92 - 3.01
INM Detailed Quote
Adams has been well compensated as he plunders this company. But dont lose sight of the fact that he has little or no say in decision making. Schneider & to a lesser degree Bogie are pulling his strings like a dancing puppet.The two of them before the consolidation owned north of 25mil shares.
They’ve scaled up and have buying customers bud. Sounds like they’re way out ahead of inmed on the biosynthesis front
In Eric Adams own words:
"Integrasyn which we think is a way to optimally manufacture cannabinoids at a very low cost. Integrasyn is flexible and able to produce A WIDE RANGE OF CANNABINOIDS. Integrasyn is designed to be an efficient, scalable, flexible and economical solution to produce cannabinoids with bio identical structures to those found in nature. While traditional biosynthesis and chemical synthesis focus on production of one cannabinoid from start to finish, the modular IntegraSynTM processes provide flexibility to shift production of one cannabinoid to a range of cannabinoids. This modular approach places less burden on the fermentation microbe and allows for the use of different enzymes and starting materials, leading to optimized yield, time and cost."
Sounds like they've found the cannabinoid holy grail.
He makes it sound like they can produce just about any cannabinoid they want cheaply, purely and quickly.
They should be screaming this from the mountain tops. Wonder why they aren't? Come on, we all know why...
There's nothing in that link that indicates that Willow is way ahead of InMed. They claim they can produce CBG on a commercial scale using yeast fermentation. Inmed claims that using E-coli makes the process more efficient and faster. To my knowledge, there isn't much of a market for CBG at this time yet their only unique claim is that they can produce it on a commercial scale. At this point, we don't really know that InMed can't do the same. The question is, could they sell it on a commercial scale.
Willow way ahead of Inmed :
https://thedeepdive.ca/willow-biosciences-first-commercial-fermentation-of-cbg-completed-the-daily-dive/
Eric Adams pos scammer
From today's SEC filing (from another msg board)
The Board of Directors
InMed Pharmaceuticals Inc.:
We, KPMG LLP, consent to the use of our report dated September 8, 2020, on the consolidated financial statements of InMed Pharmaceuticals Inc. (the “Company”), incorporated by reference herein.
Our report dated September 8, 2020 contains an explanatory paragraph that states the Company has incurred recurring losses and negative cash flows and has an accumulated deficit that raise substantial doubt about its ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.
Our report dated September 8, 2020 also refers to the Company’s change in accounting policy for leases as of July 1, 2019 due to the adoption of Accounting Standards Update (ASU) 2016-02 – Leases (Topic 842).
/s/ KPMG LLP
Chartered Professional Accountants
Vancouver, Canada
March 5, 2021
InMed Pharmaceutical (INM)
4.37 ? -0.06 (-1.35%)
Volume: 147,489 @02/19/21 7:57:31 PM EST
Bid Ask Day's Range
4.37 4.75 4.31 - 4.6518
INM Detailed Quote
InMed Pharmaceutical (INM)
4.37 ? -0.06 (-1.35%)
Volume: 147,489 @02/19/21 7:57:31 PM EST
Bid Ask Day's Range
4.37 4.75 4.31 - 4.6518
INM Detailed Quote
Been a while. Hoped that by the time I swung back through this forum InMed would at least be back closer to pre-split levels. What a festering wound this company has proven to be for not only retail investors, but institutional investors as well.
Does this mean the three headless horsemen aren't coming?
So blatantly obvious, he's a scumbag.
100% agree with you.
There are so many things wrong with the timing of this that someone really needs to check out the 11 "investors" who got to take advantage of this.
Certainly feels/looks likes a related party handout for sure....
Kinda strange how the original IPO was supposed to raise 12M then at the last minute it was reduced to approx 8M. Now all of the sudden the additional 4M is raised at better terms (for the private investors) just a mere 10 weeks later at a time when there is no immediate need for cash??
Things that make you go hmmmm....
WOLF TICKETS 2021
Not the least bit surprised with slimeball CEO.. didnt he get like 500k shares in end a June... all this PP recently is just to cover some of his buddies salaries.. adams is selling u wolf tickets and retards are eating em up..Adams is the slickest, most sly, prolly addicted to heroin just spewing lies and garbage the way he operates..
DIAZ BLESS
Nobody expects anything more from asshat adams at this point bud
The guy sucks
He hired his buddies and his scientists/doctors left him. Clearly he’s a piece of shit... I’m surprised this trades on Nasdaq
Total BS by ceo today.
GWPH gets bought out by Jazz pharma, all the canna bios start running yesterday. They all continued running today, except INM.
Adam's decides to do a private placement at all time lows with no immediate needs for cash?
Related party handout? Most likely imo.
Crazy stupid, or just greedy AF? Probably a little bit of both.
Borderline criminal management today.
INM
https://www.bloomberg.com/news/articles/2021-02-03/jazz-pharmaceuticals-to-buy-gw-for-7-2-billion-in-cash-stock
Explains the bump up here...
god knows it’s not from anything asshat adams is doing
WOLF TICKETS 2021
Just the other day I received an email from InMed with this inside...
https://imgur.com/utr1GRG
Diaz bless
Anyone else get an email from Inmed with a picture of Asshat and information that was copied and pasted from the last update?
While asshat adams kicks the can
https://thedeepdive.ca/willow-biosciences-announces-first-commercial-production-of-cbg-to-occur-in-q1-2021/
$IMN Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 12/18/2020 6:22:27 AM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 12/18/2020 6:21:18 AM
$IMN Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 12/18/2020 6:19:14 AM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 12/18/2020 6:18:36 AM
$INM Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 12/18/2020 6:17:24 AM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 12/18/2020 6:16:19 AM
$INM Quarterly Report (10-q) Edgar (US Regulatory) - 12/17/2020 6:04:28 AM
Current Report Filing (8-k) Edgar (US Regulatory) - 12/4/2020 1:49:13 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 12/3/2020 12:59:49 PM
InMed Licenses MiDROPS® Delivery Technology from EyeCRO for the Delivery of Therapeutic Cannabinoids PR Newswire (Canada) - 12/3/2020 7:30:00 AM
Public Reply | Private Reply | Keep | Last Read Post New Msg Replies (2) | Next 10 | Previous | Next
InMed Pharmaceutical (INM)
3.5001 ? 0.0101 (0.29%)
Volume: 46,370 @01/05/21 12:09:43 PM EST
Bid Ask Day's Range
3.5 3.54 3.42 - 3.5767
INM Detailed Quote
WOLF TICKETS 2021
Imlff just crossed above the top Bollinger Band on low volume and im pretty sure them 3 white soldiers have arrived.
DIAZ BLESS
Correct, they will expire and be worthless if they are not exercised prior to the expiration date.
On the expiration date, the option becomes worthless if it does not above the price you mentioned correct?
(f) Disclosure of Bonus Omitted From Summary Compensation Table of Registration Statement
As disclosed under the Summary Compensation Table in InMed Pharmaceuticals Inc.’s (the “Company’s”) registration statement on Form S-1, as amended, filed on October 8, 2020 and effective with the Securities Exchange Commission on November 12, 2020 (the “Registration Statement”), certain compensation of Eric A. Adams, the Company’s Chief Executive Officer and President, Bruce Colwill, the Company’s Chief Financial Officer and Secretary, and Alexandra Mancini, our Senior Vice President, Clinical and Regulatory Affairs (together, the Company’s “NEOs”) for the fiscal year ended June 30, 2020 could not be calculated as of the date of the filing of the Registration Statement, as such compensation had not yet been determined by the Company’s Compensation Committee. The Registration Statement mistakenly stated that the amounts unable to be determined at the time of filing were non-equity incentive plan compensation, but should have indicated that such undetermined amounts were bonus awards.
Subsequently, on November 30, 2020, the NEOs were awarded bonuses as follows: Mr. Adams received $67,505, Mr. Colwill received $42,580 and Ms. Mancini received $38,284. The NEOs are compensated in Canadian dollars and the amounts they received were converted using the Bank of Canada average daily rate of exchange for the year ended June 30, 2020 of U.S.$1.00 = C$ 1.3426 or C$1.00 = U.S.$0.7448.
Pursuant to Item 5.02(f) of Regulation 8-K, such bonus awards are set forth below, together with the other compensation previously reported and the new total compensation amounts for Mr. Adams, Mr. Colwill and Ms. Mancini for the fiscal year ended June 30, 2020. This table and footnotes supersede the Summary Compensation Table and footnotes set forth in the Registration Statement in their entirety.
Adams
Salary = $287,257
Bonus = $68,995
Options awarded = 313,656
Total compensation = $669,908
Colwill
Salary = $202,128
Bonus = $43,250
Options awarded = 81,636
Total compensation = $327,648
Mancini
Salary = $230,133
Bonus = $39,774
Options awarded = 109,651
Total compensation = $379,558
Just received an alert from the USPTO about Inmed's EB patent application which states the following:
Title: USE OF TOPICAL FORMULATIONS OF CANNABINOIDS IN THE TREATMENT OF EPIDERMOLYSIS BULLOSA AND RELATED CONNECTIVE TISSUE DISORDERS
Application: 16098324
New status: Non Final Action Counted, Not Yet Mailed
Date of new status: 12/07/2020
The new status reflects the last status in Public Patent Application Information Retrieval (PAIR) as of 11:59 p.m. ET on
the date noted above.
For those who aren't familiar with the process, a "Non-Final Office Action" always contains a rejection of or objection to some part of the patent application. Inmed has an opportunity to respond to a this by doing one or both of the following: (1) arguing that the examiner is incorrect; and (2) amending the claims and/or specification of the application to overcome the examiner’s rejections. They could also speak with the examiner on the telephone or meet with the examiner in person in an attempt to reach an understanding and obtain allowance of the patent application.
This is a normal part of the process and does not necessarily indicate that the patent application will not be granted as a patent, just wanted to pass along the info.
Next year there's a total of 210,605 options due to expire at a price range of $2.02 - $4.94 (the majority being at $2.02 - $2.78). It will be very interesting to see if any of those options are exercised.
Adams
60606 @$2.02 expire 5/15/21
60606 @$2.78 expire 6/15/21
Garner
24242 @$3.29 expire 6/10/21
Hull
30303 @$2.78 expire 9/12/21
Mancini
12121 @$4.94 expire 10/28/21
Cutler
22727 @$2.78 expire 7/26/21
Cutler also had 1515 expire on 11/27/20 (@3.54) and 6061 expire on 11/23/21 (@$3.67)
Knowing Adams and the way he operates, I'm sure he'll find a way to inflate the sp in order to exercise the options to then be able to schedule a pretty quick dump.
Other than the options he was awarded last week (I don't know what the vesting time is nor the exercise price) the rest of his options are in the exercise range of $11.01 - $39.23 so it certainly benefits him to jump on the ones next year. I'd say a really good "tell" would be to see if Adams does not exercise the 60606 5/12/21 options @$2.02 (or at least some portion), if not, I'd say there's big trouble on the Inmed home front.
Who really knows what the sp will be next May so this is just something to keep an eye on. It would be a nice infusion of confidence by management to see some of these options get exercised though.
InMed Licenses MiDROPS® Delivery Technology from EyeCRO for
the Delivery of Therapeutic Cannabinoids
- Initial application with INM-088 to treat ocular disease -
Vancouver, BC – December 3, 2020 – InMed Pharmaceuticals Inc. (“InMed” or the “Company”) (NASDAQ:INM; TSX:IN), a clinical-stage pharmaceutical company developing medications targeting diseases with high unmet medical need and leading the way in the clinical development of cannabinol (“CBN”), today announced that it has secured an exclusive, worldwide license from EyeCRO LLC for its Microemulsion Drug Ocular Penetration System (“MiDROPS®”) eyedrop delivery technology targeting effective, topical administration of cannabinoids to the eye.
EyeCRO is a leading contract research organization committed to driving ophthalmic research and development forward to advance new vision-saving treatments. MiDROPS® was developed by EyeCRO as a proprietary platform technology designed to effectively deliver lipophilic molecules to both the anterior and posterior segments of the eye by means of a stable and comfortable eyedrop formulation. InMed has already completed preliminary investigation demonstrating simplicity, superiority and effectiveness of MiDROPS® to deliver sustained levels of CBN to the eye, as compared to other formulations, as part of its INM-088 program for the prospective treatment of ocular diseases, including glaucoma.
The licensing agreement with EyeCRO grants InMed an exclusive, worldwide license to develop and commercialize prospective therapeutic formulations combining MiDROPS® with any and all cannabinoid molecules. EyeCRO will receive consideration in the form of
scheduled payments upon the achievement of certain clinical, regulatory and commercial milestones, with such scheduled payments to be made in cash and a nominal amount of securities of InMed which are subject to the approval of the TSX. In addition, EyeCRO stands to receive a low, single digit royalty on any commercial sales of InMed therapeutic products incorporating MiDROPS®. The agreement considers and protects each company’s respective intellectual property and patent rights and defines specific provisions for consideration of any new intellectual property that may arise through future development.
With this licensing agreement in place, InMed anticipates initiation of IND-enabling toxicology studies with INM-088, incorporating MiDROPS®, in 2021.
About InMed: InMed Pharmaceuticals is a clinical-stage pharmaceutical company developing a pipeline of cannabinoid-based medications, initially focused on the therapeutic benefits of cannabinol (CBN), in diseases with high unmet medical need. The Company is dedicated to delivering new therapeutic alternatives to patients that may benefit from cannabinoid-based medicines. For more information, visit www.inmedpharma.com.
About EyeCRO: EyeCRO is an ophthalmic contract research organization that helps companies advance development of vision-saving therapeutics. The Company offers a number of preclinical models as well as formulation services using the innovative and patented MiDROPS® platform. For more information, visit www.EyeCRO.com.
About Microemulsion Drug Ocular Penetration System (“MiDROPS®”): The MiDROPS® platform utilizes self-assembling isotropic microemulsions to prepare suitable ophthalmic preparations for topical instillation onto the eye. This technology allows for the formulation of insoluble and /lipophilic molecules without modification so they can be delivered in their most potent form to tissues in the front and back of the eye.
About INM-088: InMed is developing INM-088 as a cannabinol (CBN) eye drop formulation targeting reduction of the intraocular pressure associated with glaucoma as well as being designed to serve as a neuroprotectant to the retinal ganglion cells (RGC) and the optic nerve.
About Cannabinol (“CBN”): CBN is a rare cannabinoid with unique physiological properties that may result in distinct therapeutic and safety characteristics relative to the more commonly known cannabinoids tetrahydrocannabinol (THC) and cannabidiol (CBD). CBN occurs naturally in the cannabis plant, but typically only in trace quantities. InMed Pharmaceuticals is exploring the therapeutic potential of CBN in diseases with high unmet medical needs.
About Glaucoma: Glaucoma is a group of eye conditions characterized by abnormally high pressure in the eye, which can damage the membranes of the retina and the head of the optic nerve, leading to blindness. Glaucoma is the second leading cause of blindness worldwide and can occur at any age but is more common in older adults. As of 2010, there were 44.7 million people in the world with ‘open angle’ glaucoma, the most common form of the disease, of which 2.8 million were in the United States. By the end of 2020, the prevalence is projected to increase to 80 million worldwide with 3.4 million the United States.
Investor Contact:
InMed Pharmaceuticals Inc.
Brendan Payne, Director – Investor Relations
T: +1.604.669.7207
E: info@inmedpharma.com
Edison Advisors for InMed Pharmaceuticals
Joe Green/Laine Yonker
T: +1.646.653.7030/+1.646.760.0321
E: jgreen@edisongroup.com / lyonker@edisongroup.com
Cautionary Note Regarding Forward-Looking Information:
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is based on management's current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking information in this news release includes statements about: payment of consideration and royalties to EyeCRO; achievement of clinical, regulatory and commercial milestones; anticipated initiation of IND-enabling toxicology studies with INM-088 and the timing thereof; protection of intellectual property rights under the licensing agreement; and the receipt of approval from the TSX.
With respect to the forward-looking information contained in this news release, InMed has made numerous assumptions regarding, among other things: InMed will be able to make the payments contemplated in the licensing agreement; InMed will receive TSX approval; clinical, regulatory and commercial milestones will be achieved and will benefit InMed; InMed will be able to incorporate MiDROPS® technology into its products as anticipated; intellectual property rights will be protected; demand for InMed's products; and continued economic and market stability. While InMed considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause InMed’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: the outbreak and impact of COVID-19 may worsen; toxicology studies may not produce the desired results on a timely basis, or at all; TSX approval may not be received on a timely basis, or at all; the incorporation of MiDROPS® may not be possible or may not be commercially viable; regulatory applications and reporting results may not be approved on a timely basis, or at all; the licensing agreement may not protect intellectual property rights as anticipated; and cannabis licensing/importing issues may delay our projected development timelines. A more complete discussion of the risks and uncertainties facing InMed is disclosed in InMed’s most recent Annual Information Form and other continuous disclosure filed with Canadian securities regulatory authorities on SEDAR
?
Back in. Pig is ready for a double pump. Double pump, dish, and dump. Pass those shares like 209 (Stockton).
idk, it's Inmed :)
Hmm. Thx gw. How fast you figure this jv can produce a saleable product ?
InMed Pharmaceuticals and BayMedica Announce Collaboration for Manufacturing and Testing of Novel Cannabinoid Therapeutics
NEWS PROVIDED BY
InMed Pharmaceuticals Inc.
Nov 18, 2020, 07:30 ET
https://www.prnewswire.com/news-releases/inmed-pharmaceuticals-and-baymedica-announce-collaboration-for-manufacturing-and-testing-of-novel-cannabinoid-therapeutics-301175714.html
VANCOUVER, BC, Nov. 18, 2020 /PRNewswire/ - InMed Pharmaceuticals Inc. ("InMed" or the "Company") (NASDAQ:INM) (TSX:IN), a clinical-stage pharmaceutical company developing medications targeting diseases with high unmet medical need and leading the way in the clinical development of cannabinol ("CBN"), and BayMedica Inc., a company specializing in the design and manufacture of rare natural cannabinoids and cannabinoid analogs through biosynthesis and pharmaceutical chemistry, announced today they have entered into a broad reciprocal research collaboration to explore synergies between technologies owned by the two companies.
Under the terms of the Collaborative Research Agreement, BayMedica is being provided access to specific elements of InMed's proprietary IntegraSynTM platform for the production of cannabinoids. Specifically, BayMedica will assess the potential of one or more of InMed's high-efficiency enzyme gene sequences in BayMedica's systems for the production of the cannabinoids in BayMedica's catalogue.
InMed will undertake preclinical investigation of numerous therapeutic compounds selected from BayMedica's extensive library of proprietary cannabinoid analogs. Utilizing its validated assays and assessment criteria, InMed will also explore the therapeutic potential of specific analog compounds in selected disease models in the field of neuroprotection as compared to naturally occurring cannabinoids. BayMedica has a published patent application that encompasses thousands of new chemical entities based on cannabinoid analog structures.
Should the initial research phases of the individual projects defined under the agreement achieve positive and meaningful results, the Collaborative Research Agreement provides a mechanism to license the other party's technology.
About InMed: InMed Pharmaceuticals is a clinical-stage pharmaceutical company developing a pipeline of cannabinoid-based medications, initially focused on the therapeutic benefits of cannabinol (CBN) in diseases with high unmet medical need. The Company is dedicated to delivering new therapeutic alternatives to patients that may benefit from cannabinoid-based medicines. For more information, visit www.inmedpharma.com.
About BayMedica: BayMedica Inc. is a revenue stage biotechnology company leveraging synthetic biology and pharmaceutical chemistry to develop an ef?cient, scalable, and proprietary platform to produce high quality, rare cannabinoids for consumer applications and cannabinoid-derived new chemical entities for pharmaceutical applications. For more information visit www.baymedica.com.
Roth is simply one of the underwriters in the IPO. They work to determine the initial price of the IPO, purchase from the issuer (this case IN) and then immediately sell as part of the IPO to the interested investors. In this case they'll make a quick buck on what is mostly admin work.
WOLF TICKETS 2020
Refer to post #9505 for any information on whats to expect regarding uplisting to nasdaq and what follows for INM / IMLFF
https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-shift-nio-inmed-revlon-disney-cisco-2020-11-13
Diaz bless
Why does Roth Capital continue throwing million$ to this company?
They've been playing their shareholders for years and many willingly take the bait. There's nothing to be proud of with this investment if you were along prior to the RS. Some joining the party late, IF they can commercialize, will likely be rewarded as they'll have opps to get jumps from $3-4 to a double or triple and most longs won't even be back at even with that kind of upward trajectory.
I as well would not be shocked to see Adams bail in '21. He's sold most of his commons and will let those hefty options climb, cash out, and punch out for good.
Remember when I said at the time of the announcement of the reverse split and Nasdaq application that this was all just a head fake by Adams? The nasdaq uplist was just a way for him to divert his shareholders attention away from the RS. Well, guess what? That's exactly what it was.
Be certain of one thing - if the news they are sitting on was good (like they have successfully upscaled bio and can do it in a very low cost manner) then there would've been no need to raise money at such depressed levels. The positive news release would've raised the price organically then you could do the raise at the higher price.
Adams is a terrible CEO but he's a savvy guy. He knows how to package up a crap sandwich and make it look like filet mignon.
I have rarely seen a CEO care so little about his shareholders and be so blatant about it.
He literally is diluting this company into the ground. The sp, as of this morning, is equivalent to $.098/share pre split. And its only going to get worse.
No relevant news is ever released and calls and emails to investor relations have gone unanswered for months/years.
The question now is "What's his endgame?" What does he do now? In a couple of months will he announce that he's leaving the company citing that "I've led this company sucessfully all the way to the Nasdaq and my job is done!" Getting out before it really hits rock bottom?
IMLFF moved to the Nasdaq from the OTC:
https://otce.finra.org/otce/dailyList?viewType=Deletions
Oh great, back to the old days of no relevant news and MORE dilution. Eric Adams is a class ACT let me tell ya.
InMed Announces Pricing of US$8M Public Offering and Listing on the Nasdaq Capital Market Under the Symbol "INM"
Canada NewsWire
VANCOUVER, BC, Nov. 12, 2020
https://www.otcmarkets.com/stock/IMLFF/news/InMed-Announces-Pricing-of-US8M-Public-Offering-and-Listing-on-the-Nasdaq-Capital-Market-Under-the-Symbol-INM?id=279951
VANCOUVER, BC, Nov. 12, 2020 /CNW/ - InMed Pharmaceuticals Inc. ("InMed" or the "Company") (NASDAQ: INM) (TSX: IN), a clinical-stage pharmaceutical company developing medications targeting diseases with high unmet medical need and leading the clinical development of cannabinol ("CBN"), today announced that it has priced a public offering of an aggregate of 1,780,000 common shares, together with accompanying warrants to purchase up to an aggregate of 1,780,000 common shares, at a public offering price of US$4.50 per share and accompanying warrant. Each common share will be sold in the offering with one warrant to purchase one common share. The warrants have an exercise price of US$5.11 per share, are immediately exercisable upon issuance, and expire six years following the date of issuance. The underwriters have also been granted an option to purchase an additional 267,000 common shares and additional warrants to purchase up to an aggregate of 267,000 common shares for a period of 45 days.
InMed's common shares commence trading on the Nasdaq Capital Market (Nasdaq) effective today under the symbol "INM".
The offering is expected to close on November 16, 2020, subject to customary closing conditions.
Roth Capital Partners is acting as sole book-running manager for the offering and Brookline Capital Markets, a division of Arcadia Securities, LLC, is acting as co-manager.
InMed anticipates its gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, to be approximately US$8 million, excluding any exercise of the underwriters' option to purchase additional securities.
InMed intends to use the net proceeds from the offering, together with its existing cash resources, for general corporate purposes, which may include funding preclinical and clinical development of its cannabinoid drug candidates INM-755 (dermatology) and INM-088 (ocular diseases), advancing its IntegraSynTM manufacturing platform, and for working capital purposes.
The securities described above are being offered by InMed pursuant to a registration statement on Form S-1 (File No. 333-239319) previously filed with and declared effective by the U.S. Securities and Exchange Commission ("SEC") on November 12, 2020. The offering is being made only by means of a prospectus forming part of the effective registration statement. A preliminary prospectus relating to the offering has been filed with the SEC. Electronic copies of the preliminary prospectus and, when available, electronic copies of the final prospectus relating to the offering may be obtained for free by visiting the SEC's website at www.sec.gov or from Roth Capital Partners, 888 San Clemente, Newport Beach, CA 92660, Attn: Prospectus Department, telephone: 800-678-9147.
No securities are being offered or sold, directly or indirectly, in Canada or to any resident of Canada.
This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Any offer, if at all, will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.
About InMed: InMed Pharmaceuticals is a clinical-stage pharmaceutical company developing a pipeline of cannabinoid-based medications, initially focused on the therapeutic benefits of cannabinol ("CBN") in diseases with high unmet medical need. The Company is dedicated to delivering new therapeutic alternatives to patients that may benefit from cannabinoid-based medicines. For more information, visit www.inmedpharma.com.
Imlff has been changed to Inm Nasdaq on TDAmeritrade this morning
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A drug discovery and development company uniquely focused on the therapeutic potential of cannabinoids
InMed Pharmaceuticals is a pre-clinical stage biopharmaceutical company that specializes in developing novel therapies through the research and development into the extensive pharmacology of cannabinoids coupled with innovative drug delivery systems.
InMed is utilizing its proprietary bioinformatics assessment tool to identify bioactive compounds within the cannabis plant that have the potential to have physiological impacts on specific diseases. The goal is to identify new drug candidates that optimize therapeutic benefit while limiting adverse effects.
InMed’s proprietary in silico drug/disease bioinformatics assessment tool, cannabinoid biosynthesis technology and drug development pipeline are the fundamental value drivers of the Company.
Investment Highlights
Bioinformatics: Proprietary Drug / Disease Targeting Tool
InMed’s has developed a computer-based program to assist in the identification of novel cannabinoids using: (i) comprehensive algorithms to integrate data from numerous bioinformatics databases, (ii) a database on the structure of currently approved pharmaceutical products, and (iii) an extensive database on over 90 individual cannabinoid drugs found in cannabis.
Biosynthesis
Most of us are familiar with the two main bio-active ingredients produced by the cannabis (marijuana) plant, namely THC and CBD. In reality, however, there are 90+ cannabinoids in the plant that could have medical value but are too hard to research due to the fact that they only appear in trace amounts in each plant. InMed has developed, patented and intends to commercialize a process for producing all 90+ cannibinoids using genetically engineered bacteria to create bioidentical copies of these substances. Not only is their process less costly but it also produces these cannabinoids in large quantities at pharmaceutical grade purity. The following link provides a clear explanation of the process in laymen's terms.
Biosynthesis: The Science That May Unlock the Medical Potential of Cannabis
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Pipeline
InMed is building a robust product pipeline through its proprietary discovery platform and research & product development programs. The company continues to seek innovative product candidates for the treatment in following therapeutic areas:
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InMed's pipeline currently includes two drug candidates in preclinical development: INM-750 for the treatment of epidermolysis bullosa (EB); and INM-085 for the treatment of glaucoma.
INM-750
Referred to as "The Worst Disease You've Never Heard Of," EB is a rare genetic connective tissue disorder that affects roughly one out of every 20,000 births in the United States. Through the development of INM-750, InMed is attempting to address this significant unmet medical need, for which there is no approved treatment or cure. INM-750 replaces missing keratins in the skin with specially selected cannabinoids in an effort to modulate the painful manifestations of EB.
Market Potential - Amicus Therapeutics recently acquired Scioderm, Inc. and its lead EB drug candidate, Zorblisa™, for $847 million. Notably, Scioderm's sole clinical asset was Zorblisa.
JP Morgan and Cowen Research Reports estimate that peak sales for Zorblisa could reach $900 million to $1.2 billion.
INM-085
INM-085 is formulated to reduce the elevated intra-ocular pressure that is often associated with glaucoma. Additionally, the cannabinoids utilized in INM-085 are expected to provide neuroprotection for the retinal ganglion cells and other optic nerve tissues following topical administration. Although it is still in preclinical development, INM-085 targets a sizable market. According to the Glaucoma Research Foundation, glaucoma is a leading cause of blindness with no approved cure.
Market Potential - The National Institutes of Health estimates that more than 3 million Americans currently have glaucoma, and more than 120,000 have been blinded by the disease. Worldwide, glaucoma represents a market of $5.6 billion.
Leadership
InMed's management team has well over a century of combined experience in the biopharmaceutical space. Together, the professionals comprising this team are guiding InMed into exciting opportunities in the cannabis-pharma sector.
Eric A. Adams, President & CEO
Eric Adams is a seasoned biopharmaceutical executive with over 25 years of experience in company and capital formation, global market development, mergers & acquisitions, licensing and corporate governance. Mr. Adams previously served as CEO at enGene Inc., which he led from a nascent start-up to becoming a venture capital-backed leader in gene therapy. Prior to enGene, he held key senior roles in global market development with QLT Inc. (Vancouver), Advanced Tissues Science Inc. (La Jolla), Abbott Laboratories (Chicago), and Fresenius AG (Germany). Mr. Adams is well regarded in the Canadian biotech industry for his service as a strategic advisor to a number of early-stage biotech companies, as a previous Chairman of BIOTECanada's Emerging Company Advisory Board and for his extensive generosity in mentoring biotech entrepreneurs.
He is a dual citizen of Canada and the United States and holds a Masters of International Business from the University of South Carolina and a Bachelors in Chemistry from the University of Southern Indiana aerospace industry, most recently with Metal Form, Inc., a privately held aerospace manufacturing company, where he served as president and CEO from 1987 to September of 1999.
Dr. Sazzad Hossain, Ph.D., M.Sc., Chief Scientific Officer
Dr. Sazzad Hossain has more than 20 years of academic and industrial experience in new drug discovery, natural health product development. He was Group Leader and Senior Scientist at Biotechnology Research Institute of National Research Council Canada, Government of Canada's prime biotechnology research organization where he set up pharmacology laboratory to evaluate safety and efficacy of new drugs under development in the areas of cancer, cardiovascular and ocular diseases. Prior to joining the National Research Council Canada, he was at Xenon Pharmaceuticals in Vancouver, B.C, where was Associate Director of Pharmacology and led pharmacology teams targeting pain, inflammation and cardiovascular diseases. Dr. Hossain received his PhD in Biology from Moscow State Academy of Veterinary Medicine & Biotechnology and received post-doctoral training in the Department of Nutritional Science and Department of Medical Genetics of University of British Columbia. He was associate professor of pharmacology at Federal University of Minas Gerais, Brazil between 1988 -1996. He is the author of more than 40 peer-reviewed papers, primarily in the pharmacology, genetics and nutritional sciences.
Dr. Ado Muhammed, MD, DPM, MFPM, Chief Medical Officer
Dr. Ado Muhammed is a proven leader in the development of cannabinoid therapies, having played a strategic role in the clinical development, R&D, and commercialization of these specialty drugs. His previous position was Associate Medical Director at GW Pharmaceuticals, a UK-based Pharmaceutical Company specializing in the development of cannabinoid based prescription medicines. In this role and others at GW Pharmaceuticals, Dr. Muhammed was involved in the advanced delivery of core clinical research and was involved in key decision-making regarding R&D and product commercialization. Dr. Muhammed's received his MD at Ahmadu Bello University followed by an MSc in Orthopaedics at University College London. Dr. Muhammed achieved a DipPharMed in Pharmaceutical Medicine at University of Wales in Cardiff followed by an MBA in Business Administration at the University of Leicester. He is Member, Faculty of Pharmaceutical Medicine (Royal College of Physicians of England), the British Association of Pharmaceutical Physicians and the International Society for Pharmacovigilance.
Alexandra D.J. Mancini, M.Sc., Senior Vice President, Clinical and Regulatory Affairs
Alexandra Mancini has over 30 years' of global biopharmaceutical R&D experience with a particular emphasis on clinical development and regulatory affairs. Ms. Mancini has been an executive with several biotech companies, overseeing a wide range of drug development activities. As Sr. VP of Clinical & Regulatory Affairs at Sirius Genomics, her role included identifying and managing external resources for medical expertise in sepsis; clinical data management; and statistical theory, programming and analyses. While at INEX Pharmaceuticals as Sr. VP of Clinical & Regulatory Affairs, Ms. Mancini oversaw Clinical Research, Medical Affairs, Clinical Data Management, Medical Writing, Regulatory Affairs, and Quality Assurance for oncology. She served as VP of Regulatory Affairs at QLT Inc. for oncology and ocular diseases, playing a significant role in the development of VISUDYNER from the preclinical stage through to its approval as the first drug for age-related macular degeneration. While at QLT, Ms. Mancini also led the regulatory approval process for the anticancer drug PHOTOFRINR and its associated medical devices, the first drug-device combination product approved by the US Food and Drug Administration. Ms. Mancini has led the data analysis and assimilation, writing, submission and subsequent defense of drug submissions to regulatory agencies around the world, leading to several drug approvals and label extensions. Ms. Mancini holds a Master of Science degree from the University of Toronto. She is also a Visiting Lecturer at the Segal Graduate School of Business, Simon Fraser University.
Jeff Charpentier, CFO, Chief Financial Officer
Jeff Charpentier is a veteran of the biopharmaceutical industry with over 25 years of experience. Jeff has held a series of senior financial roles at several public and private companies in the pharmaceutical and technology sectors where he led multiple equity financings, raising in excess of $150M and concluded a number of corporate partnering/product sale transactions. Jeff previously served as CFO for Lifebank Corp. (through to successful company sale in 2012), Inex Pharmaceuticals Corporation (now Arbutus Biopharma Corp.), and Chromos Molecular Systems Inc. Jeff has a Bachelor of Commerce degree from the University of British Columbia and is a member of the Chartered Professional Accountants of BC.
InMed Pharmaceuticals, Inc. | NetworkNewsWire |
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InMed Pharmaceuticals is a pre-clinical stage biopharmaceutical company that specializes in developing therapies through the Research and Development into the extensive pharmacology of cannabinoids coupled with innovative drug delivery systems.
Corporate Presentation
https://www.inmedpharma.com/site/assets/files/1343/jan-cp-2017-2.pdf
InMed Pharmaceuticals is currently developing two products in its drug pipeline: INM-750, for the treatment of Epidermolysis Bullosa, and INM-085, for the treatment of Glaucoma.
Epidermolysis Bullosa (EB) is group of inherited connective tissue diseases that share a common manifestation of extremely fragile skin that blisters or tears easily from friction or trauma. Internal organs and bodily systems can also be affected by EB. It is a result in a defect of anchoring between the dermis and epidermis cause most frequently by the absence of certain keratins (or, proteins) in the skin. EB is an orphan disease with no currently approved treatments and has a significant unmet medical need. INM-750 will potentially be the first therapy designed and developed specifically to modulate disease activity and to alleviate symptoms in EB.
INM-750 includes multiple cannabinoids as the active ingredients:
INM-085
Glaucoma is a group of eye disorders which result in damage of the optic nerve. The damage is most often caused by an abnormally high pressure in the eye and is one of the leading causes of blindness in the developed world.
INM-085 will be the first ever glaucoma treatment developed that is a multi-target, multi-mechanism of action therapy, utilizing multiple cannabinoids for optimal efficacy. The cannabinoids in INM-085 have been selected to reduce the elevated intra-ocular pressure (IOP) in the affected eyes and provide neuroprotection for the retinal ganglion cells (RGCs) and other optic nerve tissues.
INM-085 is designed as a topical formulation to be administered directly to the eye. The formulation that has been designed by InMed is a proprietary polymer-based formulation to facilitate absorption of the cannabinoids into the eye while also being well tolerated by the patients. We envision a once-a-day application, at bedtime, to deliver effective dose levels of INM-085.
Proposed Targets to Develop Drugs From Cannabis and Other Botanical Sources
Dermatology
Ocular
Pain and Inflammation
CNS
Respiratory
Metabolic Disease
The majority of pharmaceutical and academic research & development activities being performed with cannabis revolves around the understanding of its biologically active ingredients, the Cannabinoids
Currently there are 90+ cannabinoids that have been isolated from cannabis, each affecting the body’s cannabinoid receptors and responsible for unique pharmacological effects.
There are three general types of cannabinoids: herbal cannabinoids which occur uniquely in the cannabis, endogenous cannabinoids produced in the bodies of humans and animals and synthetic cannabinoids produced in the laboratory.
Cannabinoid Receptors
Before the 1980s, it was often speculated that cannabinoids produced their effects through nonspecific interaction with cell membranes, instead of interacting with specific receptors. The discovery of the first cannabinoid receptors in the 1980s helped to clarify their role. These receptors are common in animals, and have been found in mammals, birds, fish and reptiles. There are currently two known types of cannabinoid receptors, called CB1 and CB2.
CB1 receptors are found primarily in the brain, specifically in the basal ganglia and in the limbic system, including the hippocampus. They are also found in the cerebellum and in both male and female reproductive systems. CB1 receptors are essentially absent in the medulla oblongata, the part of the brain that is responsible for respiratory and cardiovascular functions. Thus, there is not a risk of respiratory or cardiovascular failure as there is with many other drugs. CB1 receptors appear to be responsible for the euphoric and anticonvulsive effects of cannabis.
CB2 receptors are almost exclusively found in the immune system, with the greatest density in the spleen. CB2 receptors appear to be responsible for the anti-inflammatory and possibly other therapeutic effects of cannabis.
The protein sequences of these two receptors are about 45% similar. In addition, minor variations in each receptor have been identified. There is some indication that other receptors exist, but none have been confirmed. Cannabinoids bind reversibly and stereo-selectively to the cannabinoid receptors. The affinity of an individual cannabinoid to each receptor determines the effect of that cannabinoid. Cannabinoids that bind more selectively to certain receptors are more desirable for medical usage.
Herbal Cannabinoids
Herbal cannabinoids are nearly insoluble in water but soluble in lipids, alcohols and other non-polar organic solvents. All herbal cannabinoids are derived from their respective 2-carboxylic acids (2-COOH) by decarboxylation that is, catalyzed by heat, light, or alkaline conditions. Herbal cannabinoids occur naturally only in the cannabis plant, and are concentrated in a viscous resin that is produced in glandular structures known as trichomes. In addition to cannabinoids, the resin is rich in terpenes, which are largely responsible for the odor of the cannabis plant.
There are over ninety known herbal cannabinoids. Of these, tetrahydrocannabinol (THC) and cannabidiol (CBD) are the most prevalent and have received the most attemtion. Other common cannabinoids include:
CBG | Cannabigerol |
CBC | Cannabichromene |
CBL | Cannabicyclol |
CBN | Cannabidiol |
CBV | Cannabivarol |
THCV | Tetrahydrocannabivarin |
CBDV | Cannabidivarin |
CBCV | Cannabichromevarin |
CBGV | Cannabigerovarin |
CBGM | Cannabigerol Monoethyl Ether |
THC is the primary psychoactive component of the plant. Medically, it appears to mediate pain and to be neuroprotective. THC has a greater affinity for the CB1 receptor than for the CB2 receptors. Its effects are perceived to be more cerebral.
CBD is not psychoactive, and appears to mediate the euphoric effect of THC. It may decrease the rate of THC clearance from the body, perhaps by interfering with the metabolism of THC in the liver. Medically, it appears to relieve convulsion, inflammation, anxiety, and nausea. CBD has a greater affinity for the CB2 receptor than for the CB1 receptor. It is perceived to have more effect on the torso than on the brain or CNS.
Cannabinoids were first discovered in the 1940s. The structure of THC was first determined in 1964. Due to molecular similarity and ease of synthetic conversion, it was originally believed that CBD was a natural precursor to THC. However, it is now known that CBD and THC are produced independently in the cannabis plant.
Cannabis plants can exhibit wide variation in the quantity and type of cannabinoids they produce. The mixture of cannabinoids produced by a plant is known as the plant’s cannabinoid profile. Selective breeding has been used to control the genetics of plants and modify the cannabinoid profile. For example, strains of hemp, which are used as fiber, are bred such that they are low in psychoactive chemicals like THC. Strains used in medicine are often bred for high CBD content, and strains used for recreational purposes are usually bred for high THC content, or for a specific chemical balance. Some strains of more than 20% THC have been created.
Cannabinoids can be administered by: smoking, vaporizing, oral ingestion, transdermal patch, intravenous injection, sublingual absorption, or rectal suppository. Once in the body, most cannabinoids are metabolized in the liver, although some is stored in fat.
Cannabinoids can be separated from the plant by extraction with organic solvents. However, to produce high purity, cannabinoid chemical synthesis or semisynthesis is generally required.
University of British Columbia
Department of Chemical & Biological Engineering
Vancouver Campus
2360 East Mall
Vancouver, BC Canada V6T 1Z3
Department of Pharmaceutical Sciences
Vancouver Campus
2405 Westbrook Mall
Vancouver, BC, Canada V6T 1Z3
University of Debrecen
Research Center for Molecular Medicine, Department of Physiology
1H-4032 Debrecen, Nagyerdei krt. 98
Hungary
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