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InMed Pharmaceuticals

CN: IN

C$57.7m market cap

C$0.33 last close

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

Investment summary

InMed Pharmaceuticals 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.

Y/E Jun
Revenue (C$m)
EBITDA (C$m)
PBT (C$m)
EPS (c)
P/E (x)
P/CF (x)
2018A 0.0 (5.5) (5.3) (3.7) N/A N/A
2019A 0.0 (9.7) (9.1) (5.3) N/A N/A
2020E 0.0 (14.4) (14.9) (8.6) N/A N/A
2021E 0.0 (14.9) (16.4) (9.1) 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 US alone were around $7.5bn in 2017 and we expect them to grow to $28bn by 2023.

Last updated on 20/02/2020
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (C$m) 3.3
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (10.7) 39.6 (42.2)
Relative* (12.4) 32.3 (48.4)
52-week high/low C$0.6/C$0.2
*% relative to local index
Key management
Bruce Colwill CFO
Eric Adams President & CEO