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InMed Pharmaceuticals ( (INM) ) has provided an update.
On February 11, 2026, InMed reported second-quarter fiscal 2026 results for the period ended December 31, 2025, highlighting progress in its neurology and ophthalmology programs while managing a tightening cash position. The company completed key pharmacokinetic studies for Alzheimer’s candidate INM-901, showing robust oral bioavailability with no adverse neurological effects in large animals, and advanced preclinical work on INM-089 for dry AMD, as it prepares for pre-IND meetings and GLP-enabling studies supporting future IND submissions.
Financially, BayMedica revenue fell 26% year over year to $0.8 million on weaker demand linked to pending U.S. legislative changes, while R&D expenses declined to $0.6 million and G&A held roughly flat at $1.6 million. Cash, cash equivalents and short-term investments dropped to $7.0 million from $11.1 million at June 30, 2025, with management expecting liquidity to last into the fourth quarter of calendar 2026, though potential implementation of H.R. 5371 could force BayMedica inventory write-offs, strategic divestiture or shutdown, posing a material risk to future operations and financial performance.
The most recent analyst rating on (INM) stock is a Sell with a $0.88 price target. To see the full list of analyst forecasts on InMed Pharmaceuticals stock, see the INM Stock Forecast page.
Spark’s Take on INM Stock
According to Spark, TipRanks’ AI Analyst, INM is a Neutral.
The score is primarily pressured by weak financial performance—persistent losses, contracting revenue, and ongoing cash burn—followed by bearish technical signals with the stock trading below major moving averages. Valuation offers limited support due to negative earnings and no dividend data, while corporate events are mixed with a meaningful regulatory headwind offset by R&D progress and added financing flexibility.
To see Spark’s full report on INM stock, click here.
More about InMed Pharmaceuticals
InMed Pharmaceuticals Inc., based in Vancouver and listed on Nasdaq as INM, is a pharmaceutical drug development company focused on proprietary small-molecule therapies for diseases with high unmet medical need. Its pipeline includes INM-901 for Alzheimer’s disease targeting neuroinflammation and INM-089 for dry age-related macular degeneration, alongside a commercial rare cannabinoid business operated through its BayMedica subsidiary.
Average Trading Volume: 370,598
Technical Sentiment Signal: Sell
Current Market Cap: $2.8M
Learn more about INM stock on TipRanks’ Stock Analysis page.