InMed Pharmaceuticals (NASDAQ: INM) Releases Q1 2022 Financial Results, Business Update

• InMed Pharmaceuticals released Q1 2022 financial results in which it reported a year-on-year increase in research and development expenses primarily due to increased activities related to INM-755 clinical trials
• The company’s cash, cash equivalents, and short-term investments also grew quarter over quarter from $7.4 million to $15.4 million
• Following the closing of BayMedica’s acquisition, the integrated teams are working together with a focus on launching selected rare cannabinoids, growing revenue, and expanding sales
• InMed has commenced Phase 2 clinical trial of INM-755 (cannabinol) cream for the treatment of a group of rare skin disorders
• Preclinical data of INM-088, the company’s cannabinol (“CBN”) formulation for the treatment of glaucoma, show CBN’s effectiveness in reducing cell death in retinal ganglion cells

For the three months ending September 30, 2021 (“Q1 2022”), InMed Pharmaceuticals (NASDAQ: INM), a global leader in pharmaceutical development, manufacturing, and commercialization of rare cannabinoids, witnessed positive momentum across all of its programs. And in a business update accompanying the release of its Q1 2022 financial results, the company discussed this momentum in relation to the progress made thus far (https://cnw.fm/dLKoa). On October 13, InMed closed the previously announced (https://cnw.fm/1zsA6) acquisition of BayMedica Inc., in a transaction that created an industry leader in the manufacture and commercialization of… Read More>> NOTE TO INVESTORS: The latest news and updates relating to INM are available in the company’s newsroom at https://cnw.fm/INM About CannabisNewsWire CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge. To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only) For more information please visit https://www.CannabisNewsWire.com Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer Do you have questions or are you interested in working with CNW? Ask our Editor CannabisNewsWire (CNW) Denver, Colorado www.CannabisNewsWire.com 303.498.7722 Office Editor@CannabisNewsWire.com CannabisNewsWire is part of the InvestorBrandNetwork.