InMed Pharmaceuticals Strengthens Board with Strategic Appointment

InMed Pharmaceuticals ( (INM) ) has issued an announcement.

InMed Pharmaceuticals has appointed Mr. John Bathery to its Board of Directors, bringing over 30 years of pharmaceutical industry experience, including strategic partnerships and corporate development. His expertise will be crucial as InMed advances its INM-901 program for Alzheimer’s and INM-089 program for Age-related Macular Degeneration towards clinical readiness and explores potential partnerships. This strategic appointment is expected to enhance InMed’s growth and development efforts, positioning the company for future success. Meanwhile, Mr. Bryan Baldasare will not stand for re-election due to increasing professional obligations.

The most recent analyst rating on (INM) stock is a Sell with a $2.50 price target. To see the full list of analyst forecasts on InMed Pharmaceuticals stock, see the INM Stock Forecast page.

Spark’s Take on INM Stock

According to Spark, TipRanks’ AI Analyst, INM is a Underperform.

InMed Pharmaceuticals’ overall stock score is primarily hindered by its financial performance and valuation concerns. The persistent operational losses and negative cash flows are significant risks. Technical analysis indicates a mildly bearish to neutral trend. The recent $5M private placement is a positive development, but it does not outweigh the broader financial challenges.

To see Spark’s full report on INM stock, click here.

More about InMed Pharmaceuticals

InMed Pharmaceuticals is a pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates targeting the CB1/CB2 receptors. The company’s pipeline consists of three separate programs in the treatment of Alzheimer’s, ocular, and dermatological indications.

Average Trading Volume: 82,318

Technical Sentiment Signal: Sell

Current Market Cap: $5.25M

For an in-depth examination of INM stock, go to TipRanks’ Overview page.