Business
InMed Reports Second Quarter Fiscal 2025 Financial Results and Provides Business Update
Vancouver, British Columbia--(Newsfile Corp. - February 12, 2025) - InMed Pharmaceuticals Inc. (NASDAQ: INM) ("InMed" or the "Company"), a pharmaceutical
About this update from Inmed Pharmaceuticals Inc.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - February 12, 2025) - InMed Pharmaceuticals Inc. (NASDAQ: INM) (\"InMed\" or the \"Company\"), a pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates for diseases with high unmet medical needs, today reports financial results for the second quarter of the fiscal year 2025 which ended December 31, 2024.\nThe Company's full financial statements and related MD&A for the first quarter ended December 31, 2024, are available at www.inmedpharma.com, www.sedar.com and at www.sec.gov.\nEric A. Adams, InMed's Chief Executive Officer, commented, \"We are pleased with the steady progress across both our pharmaceutical pipeline and commercial operations. The compelling data from INM-901's preclinical study demonstrated a significant reduction in neuroinflammatory markers-a key contributor to Alzheimer's disease progression. This positions INM-901 as an innovative approach targeting neuroinflammation, extending beyond traditional amyloid beta and tau-focused therapies. Additionally, the selection of an intravitreal formulation for INM-089 marks a critical milestone in advancing our dry AMD program, offering new possibilities for treatment delivery.\"\nAdams continued, \"BayMedica continues to streamline its supply chain and reduce operational costs as it transitions to a profitable business unit, despite a challenging market landscape.\"\nBusiness Update - Pharmaceutical Development Programs\nINM-901: Targeting multiple biological pathways in Alzheimer's disease ('AD')\nINM-901 is a proprietary small molecule drug candidate with multiple mechanisms of action, currently in development as a potential treatment for AD. Recently the Company announced positive results from a long-term in vivo preclinical AD study. In the study, INM-901 demonstrated a reduction in several plasma and brain markers of neuroinflammation, a recognized contributor to AD development and progression. The ability of INM-901 to actively reduce inflammation is an exciting development, as neuroinflammation has emerged as a promising new drug target beyond existing AD treatments focused primarily on removing amyloid beta plaques and tau protein tangles.\nThe Company is evaluating additional parameters from this long-term in vivo study and is conducting further molecular analyses to b...