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Tuesday, November 24, 2020

InMed Pharmaceuticals Inc (OTCMKTS:IMLFF) is Back on the Run

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InMed Pharmaceuticals Inc (OTCMKTS:IMLFF) has been on an absolute rampage in recent sessions. IMLFF is a stock with a history of dramatic rips, so this move should not be overlooked. The main catalyst is likely the announcement that the stock has been granted a probationary uplisting onto the Toronto Stock Exchange (TSX), taking it onto the Canadian big boards. In addition, the company also just announced  the publication of a peer-reviewed article in Drug Delivery and Translational Research.

According to its latest release, “the article, titled ‘A stimulus-responsive, in situ forming, nanoparticle-laden hydrogel for ocular drug delivery’, presents results from a pre-clinical study co-sponsored by InMed and was co-authored by Dr. Sazzad Hossain, InMed’s Chief Scientific Officer.” The study represents a potentially meaningful development, as detailed by the company. But first, let’s take a broad view for those not familiar with the name.

InMed Pharmaceuticals Inc (OTCMKTS:IMLFF) casts itself as a biopharmaceutical company specializing in developing cannabis-based therapies through the Research and Development into the extensive pharmacology of cannabinoids coupled with innovative drug delivery systems.

IMLFF is utilizing its proprietary Intelligent Cannabinoid Drug Design Platform to identify new bioactive compounds within the cannabis plant that interact with certain gene targets responsible for specific diseases.

The big picture is that this is a pre-clinical stage biopharmaceutical company specializing in the research, development, and commercialization of cannabinoid-based therapies to treat human diseases with high unmet medical needs. The Company has three core assets: a proprietary Bioinformatics assessment tool to match individual (or combination of) cannabinoids against disease targets; a proprietary Biosynthesis cannabinoid manufacturing system to economically produce all 90+ cannabinoids at pharmaceutical-grade (>99.5% purity); and drug development program enabled by the two aforementioned tools. Leaders in the pipeline include a treatment for the symptoms and, potentially, the underlying disease in Epidermolysis Bullosa, a rare, devastating genetic skin disorder; and, a once-a-day eyedrops formulation of cannabinoids to treat Glaucoma, one of the leading causes of blindness in the developed world.

According to company materials, “InMed is a pre-clinical stage biopharmaceutical company that specializes in developing novel therapies through the research and development into the extensive pharmacology of cannabinoids coupled with innovative drug delivery systems. InMed’s proprietary platform technology, product pipeline and accelerated development pathway are the fundamental value drivers of the company.”

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As noted above, shares of the stock have been on a rampage in recent days, ripping as much as 135% in the past 4 trading sessions. The initial spark was news of an uplisting onto the Canadian big board exchange. But the company’s latest release also notes a peer-reviewed piece of research that suggests an innovative delivery system being developed by the company.

“We are highly encouraged by the findings from our discovery, and are now pleased to see our research receiving acceptance from a key peer-reviewed journal”, said Dr. Hossain. “These study results demonstrate significant delivery of cannabinoids to the eye via transcorneal penetration, resulting in a 300% increase versus a control formulation. Beyond cannabinoid delivery, we believe our nanoparticle-hydrogel composite may be beneficial for a number of other ophthalmic pharmaceutical products requiring enhanced transport into the eye.”

Eric A. Adams, the Company’s President and CEO, added “While glaucoma is certainly a blockbuster opportunity, we believe that our innovations offer solutions beyond this single indication. This research validates InMed’s first-in-class technology, which integrates our proprietary drug-disease targeting platform, highly efficient biosynthesis process of multiple cannabinoid compounds, and delivery of therapeutic products designed to treat multiple diseases with high unmet medical needs.”

Currently trading at a market capitalization of $220.7M, IMLFF has a significant war chest ($6M) of cash on the books, which must be weighed relative to virtually no total current liabilities. The company is pre-revenue at this point. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $IMLFF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $IMLFF, either long or short, and we have not been compensated for this article.

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