Edison issues update on InMed Pharmaceuticals (IN)
November 21 2018 - 4:26AM
InMed recently reported results for the first quarter of FY19 and
continues to make solid progress in bringing INM-750 for
epidermolysis bullosa (EB) into the clinic by H219. So far, its
selected formulation has demonstrated good drug penetration as a
topical formulation, a clean safety profile and that each of the
two cannabinoid components plays an important and independent role
in combating EB, which is an especially important finding from a
regulatory point of view for any combination product.
Additionally, the company’s biosynthesis program is tracking on
schedule.
We have adjusted our valuation to C$232m or C$1.36 per basic
share (C$1.05 per diluted share) from C$234m or C$1.37 per basic
share (C$1.05 per diluted share) solely due to lower net cash,
otherwise our valuation estimates are the same. The company had
C$24.8m in cash at 30 September and we believe this provides runway
into FY21. Click here to view the full report.
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