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InMed Pharmaceuticals

CN: IN

C$35.3m market cap

C$0.2 last close

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

Investment summary

InMed is a pharmaceutical company focused on developing cannabinoid-based medications. It is developing a proprietary pipeline with the leading candidates both based on cannabinol (CBN), a minor cannabinoid that has shown evidence of efficacy across indications while having little to no psychoactivity. Its programs include INM-755 for epidermolysis bullosa (EB), a serious orphan indication. Clinical trials have begun and enrolment in a healthy volunteers trial is expected to complete by the end of Q120. The company is also developing INM-088 for glaucoma,and is currently in preclinical studies. Additionally, through its biosynthesis platform, the company believes it may be able to produce minor cannabinoids at a lower cost and with improved purity than current methods.

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 03/04/2020
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 (40.6) (16.3) (62.7)
Relative* (24.6) 10.4 (53.1)
52-week high/low C$0.5/C$0.2
*% relative to local index
Key management
Bruce Colwill CFO
Eric Adams President & CEO