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INM

InMed Pharmaceuticals Inc.

INM

InMed Pharmaceuticals Inc. • NASDAQ
$1.33 ▲ 0.76% (+0.01)
Market Cap $2.41 M
52w High $8.27
52w Low $1.13
Dividend Yield 0%
P/E -0.22
Volume 39.42K
Outstanding Shares 1.81M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $1.12M ▼ $2.167M ▼ $-1.727M ▲ -154.171% ▼ $-436.69 ▼ $-1.57M ▲
Q4-2025 $1.777M ▲ $3.223M ▲ $-2.436M ▼ -137.066% ▲ $-1.22 ▲ $-2.437M ▼
Q3-2025 $1.262M ▲ $2.291M ▼ $-2.121M ▲ -168.117% ▲ $-2.77 ▲ $-1.991M ▲
Q2-2025 $1.112M ▼ $2.667M ▲ $-2.575M ▼ -231.628% ▼ $-5.24 ▼ $-2.094M ▼
Q1-2025 $1.265M $2.248M $-1.678M -132.676% $-3.65 $-1.609M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $9.374B ▲ $13.361B ▲ $1.77B ▲ $11.591B ▲
Q4-2025 $11.076M ▲ $15.58M ▲ $2.146M ▼ $13.434M ▲
Q3-2025 $4.68M ▲ $9.28M ▲ $2.258M ▼ $7.022M ▲
Q2-2025 $3.419M ▼ $8.502M ▼ $2.32M ▲ $6.182M ▼
Q1-2025 $5.583M $10.465M $2.07M $8.395M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $-1.727M ▲ $-1.608M ▲ $0 $-137.178K ▼ $-1.745M ▼ $-1.608M ▲
Q4-2025 $-1.788M ▲ $-1.779M ▼ $0 $8.175M ▲ $6.396M ▲ $-1.779M ▼
Q3-2025 $-2.121M ▲ $-1.659M ▲ $0 $2.92M ▲ $1.26M ▲ $-1.659M ▲
Q2-2025 $-2.575M ▼ $-2.502M ▼ $0 $338.521K ▼ $-2.164M ▼ $-2.502M ▼
Q1-2025 $-1.678M $-1.827M $0 $838.239K $-988.571K $-1.827M

Five-Year Company Overview

Income Statement

Income Statement InMed is still very much a research‑stage biotech company. It has essentially no recurring product revenue yet, and its spending is driven by research, development, and overhead rather than commercial activity. The company has been consistently unprofitable, with operating and net losses every year. The losses look large on a per‑share basis mainly because of repeated reverse stock splits, which shrink the share count and make the loss per share appear very high, even though the absolute dollar amounts are relatively small. Overall, the income statement reflects a typical early‑stage biotech profile: minimal revenue, regular R&D spending, and ongoing losses as the company works to advance its drug candidates through the clinic.

Balance Sheet

Balance Sheet InMed operates with a very small balance sheet. Total assets are modest, and cash makes up most of what the company owns, which is common for a clinical‑stage biotech with no commercial products. The company reports no financial debt, which means it isn’t currently burdened by interest payments or loan covenants. Equity is positive but limited, reflecting a thin capital base built mainly from past equity raises. The small size of the balance sheet underscores how early and lean the business still is. Future progress will likely depend on continued access to capital or partnerships rather than on internally generated funds.

Cash Flow

Cash Flow Cash flows are consistently negative, driven by operating costs such as research, development, and corporate expenses. There is no meaningful cash coming in from sales to offset these outflows. Free cash flow tracks closely with operating cash flow because the business is not spending heavily on equipment or facilities. This signals a relatively light physical footprint but an ongoing cash burn to fund clinical and platform development. Management indicates that current cash should support operations into the later part of 2026, but long term, the company’s model still depends heavily on raising additional funds or signing value‑sharing collaborations as programs advance.

Competitive Edge

Competitive Edge InMed is trying to differentiate itself within the cannabinoid space by focusing on rare cannabinoids and pharmaceutical‑grade applications, rather than on more crowded markets like consumer CBD. Its main competitive strength is its proprietary IntegraSyn manufacturing platform, which aims to produce rare cannabinoids more reliably, at higher purity, and at lower cost than plant extraction. This, combined with internal drug development expertise, gives InMed some control over both the supply of ingredients and the creation of end‑products. The company also benefits from a focused pipeline in areas with high unmet medical need, such as a rare skin disease, glaucoma, and neurodegenerative conditions. However, it competes in a broader biotech environment where many companies are also exploring cannabinoid‑based or neuroprotective therapies, and InMed’s small size and limited resources are clear constraints compared with larger pharmaceutical players.

Innovation and R&D

Innovation and R&D Innovation and R&D are the core of InMed’s story. The IntegraSyn platform is designed to make rare cannabinoids at scale, potentially unlocking compounds that are difficult or too expensive to obtain from plants. This kind of platform can support multiple drug candidates and possibly external manufacturing partnerships over time. On the drug side, the company is advancing several programs: a cream for a rare skin disorder, an eye drop candidate for glaucoma, and an oral therapy for Alzheimer’s‑related conditions. These target areas where current treatment options are limited or imperfect, which can improve the odds of regulatory interest if the data are strong. InMed is also building an intellectual property portfolio around its manufacturing methods, formulations, and novel cannabinoid analogs. This patent estate, while still developing, is an important part of protecting any future value created by its R&D efforts and could be a key asset in potential partnering discussions.

Summary

InMed is a tiny, clinical‑stage biotech focused on rare cannabinoid‑based medicines. Its financials show a typical early‑stage profile: almost no revenue, ongoing operating losses, a small but mostly cash‑based balance sheet, and regular cash burn to fund research and trials. The main strengths lie in its technology and R&D: the IntegraSyn manufacturing platform, a targeted pipeline in niche but serious diseases, and a growing set of patents. These assets give the company a clear strategic focus and potential levers for future partnerships. The main risks are also clear: no commercial products yet, reliance on external funding, a very small capital base, and the usual scientific, clinical, and regulatory uncertainties that come with drug development. Future outcomes will largely depend on the quality of clinical data, the ability to secure partners or non‑dilutive funding, and how effectively the company can convert its platform and IP into sustainable revenues over time.

NEWS

November 18, 2025 · 7:30 AM UTC

InMed Announces Successful Completion of Pharmacokinetic Studies in Large Animal Model for Its Alzheimer's Disease Candidate INM-901

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November 6, 2025 · 4:51 PM UTC

InMed Reports First Quarter Fiscal 2026 Financial Results and Provides Business Update

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October 16, 2025 · 8:30 AM UTC

Inmed Pharmaceuticals Appoints Mr. John Bathery to Its Board of Directors

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October 9, 2025 · 8:30 AM UTC

InMed Pharmaceuticals Appoints Mr. Neil Klompas to It's Board of Directors

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September 23, 2025 · 8:30 AM UTC

InMed Pharmaceuticals Reports Full Year Fiscal 2025 Financial Results and Provides Business Update

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