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An update from InMed Pharmaceuticals ( (INM) ) is now available.
InMed Pharmaceuticals has appointed Mr. Neil Klompas to its Board of Directors, bringing over 30 years of experience in healthcare and biotechnology. Mr. Klompas’ extensive leadership and financial expertise, particularly his role in scaling Zymeworks Inc. into a multi-billion-dollar company, are expected to significantly contribute to InMed’s strategic growth and development of its innovative drug pipeline, including promising treatments for Alzheimer’s disease.
The most recent analyst rating on (INM) stock is a Sell with a $2.50 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 Underperform.
InMed Pharmaceuticals’ overall stock score is primarily hindered by its financial performance and valuation concerns. The persistent operational losses and negative cash flows are significant risks. Technical analysis indicates a mildly bearish to neutral trend. The recent $5M private placement is a positive development, but it does not outweigh the broader financial challenges.
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 includes programs for the treatment of Alzheimer’s, ocular, and dermatological indications.
Average Trading Volume: 97,789
Technical Sentiment Signal: Sell
Current Market Cap: $5.39M
See more data about INM stock on TipRanks’ Stock Analysis page.