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 $28bn by 2023.
Last updated on 20/02/2020
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Share price graph
Balance sheet |
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| Forecast net cash (C$m) | 3.3 |
| Forecast gearing ratio (%) | N/A |
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Key management |
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| Bruce Colwill | CFO |
| Eric Adams | President & CEO |
