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InMed Pharmaceuticals

CN: IN

CA$44.8m market cap

CA$0.26 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 it filed a Clinical Trial Application (CTA) in the Netherlands for INM-755, which is being developed for epidermolysis bullosa (EB). 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.

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) (3.74) N/A N/A
2019A 0.0 (9.7) (9.1) (5.33) N/A N/A
2020E 0.0 (15.4) (16.1) (9.04) N/A N/A
2021E 0.0 (16.0) (17.6) (9.48) 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 $7.5 billion in 2017 and we expect it to grow to $28 billion by 2023.

Last updated on 15/11/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (C$m) 1.9
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (7.1) (3.7) (52.7)
Relative* (10.5) (9.5) (58.0)
52-week high/low C$0.8/C$0.2
*% relative to local index
Key management
Bruce Colwill CFO
Jeff Charpentier CFO
Eric Adams President & CEO