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InMed Pharmaceuticals

US: INM

Market Cap$22.2m

Last Close $1.57

InMed is a pharmaceutical company focused on developing and manufacturing cannabinoids. Its main pipeline product is INM-755 for EB, a serious, debilitating orphan indication.

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Investment summary

With the recent closing of the BayMedica acquisition, InMed now has a substantially different profile than just a few months ago. The company is now in its commercial stage as BayMedica has been selling cannabichromene (CBC) in bulk. InMed has also advanced past the healthy volunteer stage in the INM-755 clinical program through the initiation of the INM-755 Phase II trial (755-201-EB) in up to 20 epidermolysis bullosa (EB) patients.

Y/E Jun
Revenue (US$m)
EBITDA (US$m)
PBT (US$m)
EPS (c)
P/E (x)
P/CF (x)
2020A 0.0 (9.0) (9.0) (172.80) N/A N/A
2021A 0.0 (9.8) (10.3) (153.02) N/A N/A
2022E 0.0 (13.6) (13.7) (99.78) N/A N/A
2023E 0.0 (11.1) (12.1) (83.44) N/A N/A
Industry outlook

The market for cannabinoids, whether FDA-approved, medical or recreational, is growing at a fantastic rate. Legal cannabis sales in the United States alone were around US$7.5bn in 2017 and we expect them to grow to US$28bn by 2023.

Last updated on 07/12/2021
Content on InMed Pharmaceuticals
InMed Pharmaceuticals – Introducing the BayMedica Team
Healthcare | Edison TV | 1 December 2021
InMed Pharmaceuticals – Introducing the BayMedica Team
Healthcare | Edison TV | 24 November 2021
InMed Pharmaceuticals – Introducing the BayMedica team
Healthcare | Edison TV | 17 November 2021
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Share price graph
Balance sheet
Forecast net cash (US$m) 5
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 6.8 (30.5) (51.5)
Relative* 7.0 (33.0) (61.8)
52-week high/low US$5.3/US$1.3
*% relative to local index
Key management
Bruce Colwill CFO
Eric Adams President & CEO