InMed Pharmaceuticals Inc.
INM evidence brief
What we can confirm
- BioSniper Score:
- 5.0 / 10
- Market Cap:
- $7.1M
- Lead Asset:
- inm-901 (Preclinical)
What it means
What to watch
Prepared research question
What matters most for INM—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · INM
InMed Pharmaceuticals Inc. is a pharmaceutical drug development company focused on proprietary small molecule drug candidates targeting CB1 and CB2 receptors for diseases with high unmet medical needs, including Alzheimer's disease, dry AMD, and Epidermolysis Bullosa [sec_mda · as of 2026-09-09].
Key risk: Cash runway risk
BioSniper Score
Based on 4 of 6 signals
Market Cap
$7.1M
Cash Runway
—
Lead Asset
inm-901 (Preclinical)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 1 pipeline candidate for InMed Pharmaceuticals Inc..
InMed Pharmaceuticals Inc. is a pharmaceutical drug development company focused on proprietary small molecule drug candidates targeting CB1 and CB2 receptors for diseases with high unmet medical needs, including Alzheimer's disease, dry AMD, and Epidermolysis Bullosa [sec_mda · as of 2026-09-09].
- InMed has a pipeline of proprietary small molecule drug candidates that are preferential signaling ligands of CB1 and CB2 receptors [sec_mda · as of 2026-09-09].
- The company's current pipeline includes programs targeting Alzheimer's disease (INM-901), dry Age-Related Macular Degeneration (INM-089), and Epidermolysis Bullosa [sec_mda · as of 2026-09-09].
- As of June 30, 2026, InMed had approximately $2.2 million in cash, cash equivalents and short-term investments, estimated to fund operations into September 2026 [sec_mda · as of 2026-09-09].
- Shareholders' equity was $1.1M as of June 30, 2026 [sec].
- InMed wound down its only revenue-generating commercial operations (BayMedica) as of June 30, 2026 [sec_mda · as of 2026-09-09].
What works
- InMed's drug candidates target high-unmet-need diseases such as Alzheimer's disease and dry AMD, with potential disease-modifying and neuroprotective mechanisms [sec_mda · as of 2026-09-09].
- The company has a library of novel, proprietary, patentable new chemical entities (NCEs) for pharmaceutical development [sec_mda · as of 2026-09-09].
- InMed has completed a pre-IND meeting with the FDA for INM-901 and is targeting IND submission and Phase 1 initiation in calendar 2027 [sec_mda · as of 2026-09-09].
What to weigh
- InMed has no revenue-generating operations after winding down BayMedica's commercial segment as of June 30, 2026 [sec_mda · as of 2026-09-09].
- Cash runway is very limited: approximately $2.2 million as of June 30, 2026, estimated to fund operations only into September 2026 [sec_mda · as of 2026-09-09].
- The company has accumulated substantial operating losses ($12.6 million and $8.2 million in recent fiscal years) and expects losses to increase as development progresses [sec_mda · as of 2026-09-09].
- Future development depends on accessing additional capital, including through a proposed merger with Mentari Therapeutics or other financing transactions [sec_mda · as of 2026-09-09].
From the filings
Quoted directly from source documents.
Cash position and runway
“As of June 30, 2026, we had approximately $2.2 million in cash, cash equivalents and short-term investments, which, we currently estimate funds our operations into September 2026”
SEC MD&A · September 9, 2026
Pipeline focus on CB1/CB2 receptors
“We are a pharmaceutical drug development company with a pipeline of proprietary small molecule drug candidates that are preferential signaling ligands of the endogenous CB1 and CB2 receptors”
SEC MD&A · May 6, 2026
Wind down of commercial operations
“On March 4, 2026, the InMed Board ratified, confirmed and approved the decision of the board members of BayMedica to wind down and exit BayMedica's commercial operations business segment, which constitutes the only revenue-generating commercial operations of InMed”
SEC MD&A · September 9, 2026
Target IND submission and Phase 1 for INM-901
“InMed targets submission of an IND and initiation of a Phase 1 clinical trial in calendar 2027”
SEC MD&A · September 9, 2026
Risks & what to watch (4)›
Key risks
- Cash runway risk — Cash of ~$2.2M as of June 30, 2026, estimated to fund operations only into September 2026 [sec_mda · as of 2026-09-09].
- No revenue-generating operations — BayMedica commercial operations wound down as of June 30, 2026, leaving InMed with no revenue [sec_mda · as of 2026-09-09].
- Dependence on merger/financing — Development plans are contingent on consummation of the Mentari merger or other financing transactions [sec_mda · as of 2026-09-09].
- Preclinical/clinical failure risk — If product candidates fail in preclinical or clinical trials, or do not gain regulatory approval, the company may not recover [sec_mda · as of 2026-09-09].
What to watch
- Consummation of the proposed merger with Mentari Therapeutics, Inc. [sec_mda · as of 2026-09-09]
- Ability to secure additional financing to extend cash runway beyond September 2026 [sec_mda · as of 2026-09-09]
- Progress of INM-901 IND-enabling studies and pre-IND feedback integration [sec_mda · as of 2026-09-09]
- Outcome of INM-089 ocular research and potential neuroprotective data [sec_mda · as of 2026-09-09]
Sources: News · SEC MD&A · Generated October 7, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
Cash runway data unavailable
D/E 1.82
Lead: Preclinical
1 candidate
No upcoming catalysts tracked
37 buys · 0 sells (180d)
Pipeline
Financials
Short Interest
as of Apr 30, 2026- % of float
- 2.9%
- Days to cover
- 0.6
- Shares short
- 95,636
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
INM short interestGovernance
Frequently asked questions
What is the AI investment thesis for InMed Pharmaceuticals Inc.?
InMed Pharmaceuticals Inc. is a pharmaceutical drug development company focused on proprietary small molecule drug candidates targeting CB1 and CB2 receptors for diseases with high unmet medical needs, including Alzheimer's disease, dry AMD, and Epidermolysis Bullosa [sec_mda · as of 2026-09-09].
What is InMed Pharmaceuticals Inc.'s lead drug candidate?
InMed Pharmaceuticals Inc.'s most advanced tracked candidate is inm-901 (Preclinical) for Alzheimer's disease.
Who is the CEO of InMed Pharmaceuticals Inc.?
Mr. Eric A. Adams B.S. Chem., M.I.B. is the chief executive officer of InMed Pharmaceuticals Inc. (INM).
Where is InMed Pharmaceuticals Inc. headquartered?
InMed Pharmaceuticals Inc. (INM) is headquartered in Vancouver, BC, Canada.
What therapeutic areas does InMed Pharmaceuticals Inc. focus on?
InMed Pharmaceuticals Inc. develops therapies across Neurology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.