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InMed Pharmaceuticals ( (INM) ) just unveiled an announcement.
InMed Pharmaceuticals announced the closing of a $5 million private placement, priced at-the-market under Nasdaq rules, for the issuance and sale of common shares and short-term preferred investment options. The proceeds will support the development of InMed’s drug candidates, commercial sales of rare cannabinoids through its subsidiary BayMedica LLC, and general working capital. The offering was conducted under specific securities laws and was limited to accredited investors, with H.C. Wainwright & Co. serving as the exclusive placement agent.
Spark’s Take on INM Stock
According to Spark, TipRanks’ AI Analyst, INM is a Neutral.
InMed Pharmaceuticals shows significant financial challenges with persistent losses and negative cash flows, which heavily weigh down its score. The stock’s technical indicators reflect short-term positive momentum, offering some optimism amid volatility. The valuation remains constrained by ongoing losses and lack of profitability metrics, typical for the biotechnology sector.
To see Spark’s full report on INM stock, click here.
More about InMed Pharmaceuticals
InMed Pharmaceuticals is a pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates targeting the CB1/CB2 receptors. The company’s pipeline consists of programs aimed at treating Alzheimer’s, ocular, and dermatological conditions.
Average Trading Volume: 3,153,690
Technical Sentiment Signal: Sell
Current Market Cap: $4.58M
For detailed information about INM stock, go to TipRanks’ Stock Analysis page.