Edison issues update on InMed Pharmaceuticals (IN)

LONDON, UK / ACCESSWIRE / February 20, 2020 / InMed Pharmaceuticals (TSX:IN) recently announced that the first human clinical trial (755-101-HV) of its lead program, INM-755 for the treatment of epidermolysis bullosa (EB), is currently around 50% enrolled with full enrollment expected this quarter and data in H220. This trial is testing two strengths of INM-755 cream on the intact skin of 22 healthy volunteers. The company expects to file a clinical trial application (CTA) for a second trial (755-102-HV) this quarter with initiation in Q220. This upcoming trial would test INM-755 on eight healthy volunteers with small wounds.

We have adjusted our valuation, from C$259m or C$1.50 per basic share (C$1.24 per diluted share), to C$256m or C$1.49 per basic share (C$1.22 per diluted share). The change is due to a lower cash balance. InMed had C$12.0m in cash and marketable securities at 31 December and we believe this provides a runway into FY21.

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