Replies to post #537 on InMed Pharmaceuticals Inc (INM)

[Greengo]

The promoters on the internet keep spamming the same old news and telling us November will be better, and the stock keep dropping.

The problem here is the company is broke, and no one want's to address the elephant in the room. ( IMLFF has no money )

http://www.stockwatch.com/News/Sedardoc.aspx?docid=3245995

[PharmaGreen007]

Dr. Sazzad Hossein's old company traded as high as $18.46 on Tuesday, after a $9 IPO on November 5th. The market cap was over $200 million on its 5th trading day, and closed today at $13.42

Market Cap
$182.11 M
Shares Outstanding
13.58 M
Public Float
9.38 M

The primary reason for the high valuation was Dr. Sazzad's discovery (XEN402)

From a Xenon Piece:

"The company’s most advanced product candidate is TV-45070 (formerly XEN402). Teva is currently conducting a 300-patient, randomized Phase 2b clinical trial of TV-45070 in osteoarthritis of the knee. The company is currently planning additional development of TV-45070 in neuropathic pain indications."

http://finance.yahoo.com/news/ipo-filing-xenon-pharmaceuticals-134009754.html ;

Now read this from Dr. Sazzad's Linkedin:

Associate Director- Drug Discovery
Xenon Pharmaceuticals Inc.
December 2006 – October 2008 (1 year 11 months)Burnaby. BC. Canada
Recruited from University of British Columbia and away from assistant professorship offer at a U.S. university by Professor Michael Hayden. Earned rapid promotion from Senior Scientist to Associate Director while simultaneously serving as principal scientist in development of mission-critical compounds.

? Successfully completed due diligence meeting with Pharmaceutical companies: Novartis Pharma AG, Takeda Pharmaceuticals, and Roche resulting licensing agreements & increased portfolio value ~$500M.
? Prepared FDA’s IND enabling documents and Investigator’s brochure (IB) for new drug candidates.
? Developed topical drug development program for XEN402 licensed to Teva Pharmaceuticals (~$335M) and recently FDA granted XEN402 as Orphan Drug for the treatment of pain associated with Erythromelalgia.

Principal Research Scientist
Xenon Pharmaceuticals Inc.
2004 – 2006 (2 years)Burnaby. BC. Canada
? Provided scientific & technical leadership & managed group of scientists & technical personals.
? Managed the following drug discovery & development projects: Oral XEN402(Pain- Phase 3), Topical XEN402(Pain - Phase 2), XEN403- Oral (Pain Phase 1 Trial).
? Collaborated with medicinal chemistry group to optimize lead compounds.
? Conducted efficacy, PK/PD, non-GLP safety & toxicological studies .
? Designed & managed GLP toxicological studies conducted at CRO's
? Increased portfolio value ~$232M by managing licensing of Stearoyl-CoA Desaturase-1 (SCD1) lead compound to Novartis Pharma AG .