Sun, 24 Jan 2021

LONDON, UK / ACCESSWIRE / January 11, 2021 / InMed Pharmaceuticals has now announced top-line results from both the 755-101-HV and 755-102-HV Phase I trials. Trial 755-101-HV was conducted in 22 healthy adult volunteers with intact skin, while 755-102-HV was conducted in eight healthy volunteers with small wounds. Both trials indicated that INM-755 was safe and well tolerated. There were no systemic or serious adverse effects, nor were there any adverse event-related withdrawals. Additionally, systemic drug concentrations were very low, which is desirable in a topical therapy.

We have adjusted our valuation to US$233m (C$296m) or US$33.34 (C$42.35) per basic share from C$256m or C$1.49 per basic share. The total valuation rose due to increasing the probability of success for INM-755 to 10% from 7.5% following the positive Phase I data, rolling forward our NPVs and higher net cash following a Nasdaq offering. The per-share value increased following a one-for-33 share consolidation completed on 30 June.

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