LONDON, UK / ACCESSWIRE / November 18, 2019 / InMed Pharmaceuticals (TSX:IN) recently announced that it filed a Clinical Trial Application in the Netherlands for INM-755, which is being developed for epidermolysis bullosa. Approval of the CTA is expected around the end of November with the first trial (755-101-HV) expected to begin in December. This trial will test two strengths of INM-755 cream on the intact skin of 22 healthy volunteers. Following the completion of this trial, the company expects to initiate trial 755-102-HV, which would test INM-755 on eight healthy volunteers with small wounds.
We have increased our valuation to C$259m or C$1.50 per basic share (C$1.24 per diluted share), from C$256m or C$1.48 per basic share (C$1.22 per diluted share). The valuation increase is mainly due to increasing the probability of success for INM-755 (from 5% to 7.5%) following product advancement into the clinic. This was partially offset by a lower cash balance. InMed had C$14.8m in cash and marketable securities at 30 September and we believe this provides a runway into FY21.
Click here to view the full report.
Subscribe to Edison's content to receive reports by email.
All reports published by Edison are free-to-access and available on the website.
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
Wiktoria O'Hare, +44 (0)20 3077 5700
healthcare@edisongroup.com
Learn more at www.edisongroup.com and connect with Edison on:
LinkedIn https://www.linkedin.com/company/edison-group-
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/567057/Edison-issues-update-on-InMed-Pharmaceuticals
