LONDON, UK / ACCESSWIRE / May 22, 2019 / InMed (TSX: IN) recently reported results for the third quarter of FY19 and is on track to be in the clinic to treat epidermolysis bullosa (EB) in the second half of this year (consistent with prior guidance for a CTA filing in H219 with entrance into clinic by year-end 2019). In March, it announced that instead of developing a combination cannabinoid product for EB, it would go with a single agent (INM-755) as it discovered in its testing that by increasing the dose of one of the components, efficacy was the same as the combination. This greatly simplified the regulatory process as there are extra hurdles for a combination of two investigational drugs in one product.
We have slightly adjusted our valuation to C$255m or C$1.48 per basic share (C$1.14 per diluted share), from C$257m or C$1.51 per basic share (C$1.16 per diluted share), principally due to lower net cash. InMed had C$20.4m in cash at 31 March and we believe this provides a runway through FY20.
Click here to view the full report.
All reports published by Edison are available to download free of charge from its website
www.edisongroup.com
About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
Edison is authorised and regulated by the Financial Conduct Authority.
Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.
For more information please contact Edison:
Maxim Jacobs, +1 646 653 7027
Nathaniel Calloway, +1 646 653 7036
healthcare@edisongroup.com
Learn more at www.edisongroup.com and connect with Edison on:
LinkedIn https://www.linkedin.com/company/edison-investment-research
Twitter www.twitter.com/Edison_Inv_Res
YouTube www.youtube.com/edisonitv
SOURCE: Edison Investment Research Limited
View source version on accesswire.com:
https://www.accesswire.com/546164/Edison-Issues-Update-on-InMed-Pharmaceuticals-IN