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Edison issues update on InMed Pharmaceuticals (IN)

February 20, 2020 | About:

LONDON, UK / ACCESSWIRE / February 20, 2020 / InMed Pharmaceuticals (TSX:IN) recently announced that the first human clinical trial (755-101-HV) of its lead program, INM-755 for the treatment of epidermolysis bullosa (EB), is currently around 50% enrolled with full enrollment expected this quarter and data in H220. This trial is testing two strengths of INM-755 cream on the intact skin of 22 healthy volunteers. The company expects to file a clinical trial application (CTA) for a second trial (755-102-HV) this quarter with initiation in Q220. This upcoming trial would test INM-755 on eight healthy volunteers with small wounds.

We have adjusted our valuation, from C$259m or C$1.50 per basic share (C$1.24 per diluted share), to C$256m or C$1.49 per basic share (C$1.22 per diluted share). The change is due to a lower cash balance. InMed had C$12.0m in cash and marketable securities at 31 December and we believe this provides a runway into FY21.

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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, +1 646 653 7028
[email protected]

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SOURCE: Edison Investment Research Limited



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