Quarterly ResultMay 6, 2026, 05:27 PM
InMed Pharma Q3 Net Loss $(2.97)M; Going Concern Warning
AI Summary
InMed Pharmaceuticals Inc. reported a net loss of $(2.97) million for the three months ended March 31, 2026, and a net loss of $(6.72) million for the nine-month period. The company issued a going concern warning, stating that its current cash and short-term investments are expected to fund operations only into the fourth quarter of calendar year 2026. Additionally, the board approved the winding down of BayMedica's commercial operations, which was the company's sole revenue-generating segment.
Key Highlights
- Company issued a going concern warning, expecting cash to fund operations into Q4 2026.
- Board approved winding down BayMedica's commercial operations, the only revenue-generating segment.
- Reported a net loss of $(2,966,336) for the three months ended March 31, 2026.
- Reported a net loss of $(6,721,458) for the nine months ended March 31, 2026.
- Cash and cash equivalents decreased to $5,158,932 as of March 31, 2026, from $10,743,430.
- Accumulated deficit reached $(123,959,350) as of March 31, 2026.
- Research and development expenses increased to $1,022,630 for the quarter, up from $425,370 YoY.