InMed Pharmaceuticals (INM) AI Stock Analysis

• Market Cap: $3.17M
• Dividend Yield: N/A
• Average Volume (3M): 113.41K
• Price to Earnings (P/E): ―
• Beta (1Y): 3.46
• Revenue Growth: -3.27%
• EPS Growth: 51.83%
• Country: US
• Employees: 13
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.44
• Shares Outstanding: 2,804,186
• 10 Day Avg. Volume: 156,716
• 30 Day Avg. Volume: 113,414
• PEG Ratio: <0.01
• Price to Book (P/B): 0.24
• Price to Sales (P/S): 0.64
• P/FCF Ratio: -0.56
• Enterprise Value/Market Cap: -1.22
• Enterprise Value/Revenue: -0.73
• Enterprise Value/Gross Profit: -2.12
• Enterprise Value/Ebitda: 0.48
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: $1.00 ▼(-10.71% Downside)

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.

Positive Factors

Strategic Partnerships

InMed's strategic partnerships and proprietary technology enhance its market position by expanding product offerings and improving manufacturing efficiency, which can drive long-term revenue growth.

Financial Stability

A strong equity position with low leverage provides InMed with financial stability, enabling it to withstand operational challenges and invest in growth opportunities over time.

Private Placement Funding

The recent $5M funding provides InMed with additional resources to advance its pharmaceutical pipeline, supporting long-term growth and operational sustainability.

Negative Factors

Operational Losses

Ongoing operational losses threaten InMed's profitability and cash flow, posing a risk to its long-term viability unless significant improvements in revenue and efficiency are achieved.

Negative Cash Flows

Negative cash flows indicate that InMed is not generating sufficient cash from operations, relying on external financing, which could limit its ability to invest in growth and innovation.

Volatile Income Statement

Volatile income with negative margins suggests high expenses relative to revenues, indicating operational inefficiencies that could hinder long-term profitability and competitiveness.

InMed Pharmaceuticals Business Overview & Revenue Model

Company Description

InMed Pharmaceuticals Inc., a clinical stage pharmaceutical company, researches and develops cannabinoid-based therapies. The company's lead product is INM-755, a cannabinol topical cream, which is in a second Phase I clinical trials for the treatment of epidermolysis bullosa. The company is also involved in developing INM-088, which is in preclinical studies for the treatment of glaucoma; and INM-405 for the treatment of pain. In addition, it engages in the development of cannabinoid-based treatments for various diseases, including dermatology and ocular diseases. Further, the company works on IND-enabling pharmacology and preclinical toxicology studies; and IntegraSyn, an integrated biosynthesis-based manufacturing approach, for synthesizing pharmaceutical-grade cannabinoids. It has a research collaboration agreement with BayMedica Inc. for the manufacturing and testing of novel cannabinoid therapeutics. The company was formerly known as Cannabis Technologies Inc. and changed its name to InMed Pharmaceuticals Inc. in October 2014. InMed Pharmaceuticals Inc. was incorporated in 1981 and is headquartered in Vancouver, Canada.

How the Company Makes Money

InMed Pharmaceuticals generates revenue primarily through the development and commercialization of cannabinoid-based products. The company's key revenue streams include the sales of pharmaceutical-grade cannabinoids, licensing agreements, and partnerships with other pharmaceutical and biotechnology companies. InMed's proprietary IntegraSyn™ manufacturing technology contributes to its earnings by enabling the efficient synthesis of rare cannabinoids at a commercial scale, thus enhancing its product offerings and market reach. Additionally, strategic collaborations and partnerships play a significant role in expanding its revenue base by leveraging shared expertise and resources in product development and distribution.

InMed Pharmaceuticals Financial Statement Overview

Summary

InMed Pharmaceuticals faces significant financial challenges, with persistent operational losses impacting profitability and cash flow. Despite a relatively strong balance sheet with low leverage, the sustained negative earnings and cash flow trends may threaten long-term viability unless growth in revenue and operational efficiency can be achieved.

Income Statement

InMed Pharmaceuticals shows a volatile income statement with consistent losses. The company reported a significant negative gross profit margin and net profit margin in the TTM period, indicating high expenses relative to low revenues. Revenue growth is present but from a very low base, and both EBIT and EBITDA margins are substantially negative, suggesting operational inefficiencies.

Balance Sheet

The balance sheet reflects a strong equity position with a low debt-to-equity ratio, indicating good financial stability. However, return on equity is negative due to the persistent net losses. The equity ratio is strong, showing reliance on equity financing, but ongoing losses pose a risk to sustainability.

Cash Flow

Cash flow analysis shows negative operating and free cash flows, indicating that the company is not generating positive cash from its core operations. The operating cash flow to net income ratio is poor, reflecting inefficiency in converting net losses into positive cash flows. The company relies on financing activities to support its operations.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.27M	4.94M	4.60M	4.14M	1.09M	0.00
Gross Profit	1.83M	1.71M	1.10M	1.40M	543.55K	0.00
EBITDA	-8.09M	-7.26M	-7.06M	-7.78M	-13.28M	-12.17M
Net Income	-8.86M	-8.16M	-7.68M	-7.95M	-18.60M	-12.65M
Balance Sheet
Total Assets	13.36B	15.58M	11.82M	14.11M	16.46M	9.78M
Cash, Cash Equivalents and Short-Term Investments	9.37B	11.08M	6.57M	8.91M	8.01M	7.41M
Total Debt	215.48M	741.26K	962.66K	391.71K	1.02M	269.77K
Total Liabilities	1.77B	2.15M	2.62M	2.02M	4.77M	2.40M
Stockholders Equity	11.59B	13.43M	9.21M	12.09M	11.69M	7.38M
Cash Flow
Free Cash Flow	-7.55M	-7.77M	-7.00M	-7.45M	-15.62M	-9.79M
Operating Cash Flow	-7.55M	-7.77M	-6.99M	-7.28M	-15.58M	-9.79M
Investing Cash Flow	0.00	0.00	-9.29K	-661.80K	-673.00K	-1.73K
Financing Cash Flow	11.30M	12.27M	4.65M	10.68M	15.07M	10.85M

InMed Pharmaceuticals Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.12
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INM, the sentiment is Negative. The current price of 1.12 is below the 20-day moving average (MA) of 1.18, below the 50-day MA of 1.34, and below the 200-day MA of 2.22, indicating a bearish trend. The MACD of -0.06 indicates Negative momentum. The RSI at 38.72 is Neutral, neither overbought nor oversold. The STOCH value of 19.04 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for INM.

InMed Pharmaceuticals Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
TCRT	45 Neutral	$6.12M	-1.22	-145.65%	―	―	68.59%
INM	44 Neutral	$3.17M	-0.15	-82.17%	―	-3.27%	51.83%
XBIO	42 Neutral	$5.06M	-1.11	-57.43%	―	13.30%	22.70%
ENSC	42 Neutral	$3.38M	-0.15	-270.54%	―	1.51%	77.64%

InMed Pharmaceuticals Corporate Events

InMed Shareholders Approve Directors and Equity Financing Flexibility

On December 17, 2025, InMed Pharmaceuticals held its 2025 Annual General and Special Meeting of Shareholders, where 35.43% of its 2.8 million outstanding common shares were represented in person or by proxy. Shareholders re-elected five directors to serve until the 2026 annual meeting, approved CBIZ CPAs P.C. as the company’s auditor for the coming year, and endorsed the potential issuance of 20% or more of the company’s outstanding common shares as of December 13, 2024 under a Standby Equity Purchase Agreement with YA II PN, Ltd., in line with Nasdaq listing rules, signaling continued shareholder support for the existing board, governance structure and flexible equity financing options. No other matters came to a vote at the meeting, and the company reported the voting results on SEDAR on December 17, 2025.

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.

InMed Faces Challenges from New U.S. Legislation

On December 12, 2025, InMed Pharmaceuticals announced that the recently signed H.R. 5371 Act in the United States could materially negatively impact its subsidiary, BayMedica Inc., by prohibiting certain aspects of its commercial business related to rare, non-intoxicating cannabinoids. Despite this, InMed’s core pharmaceutical programs, including treatments for Alzheimer’s and age-related macular degeneration, remain unaffected and continue to progress under FDA guidance.

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.

InMed Pharmaceuticals Completes Key Study for INM-901

On November 18, 2025, InMed Pharmaceuticals announced the successful completion of pharmacokinetic studies in large animal models for its Alzheimer’s disease candidate, INM-901. The studies demonstrated robust bioavailability and no adverse neural or behavioral effects, supporting the potential utility of INM-901 in neurodegenerative disorders. This marks a significant step towards human clinical trials, with preparations underway for a pre-IND meeting with the FDA and further development activities.

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.