DelistingSep 18, 2026, 05:22 PM
InMed Pharmaceuticals Receives Nasdaq Delisting Warning; Merger Expected to Resolve Issue
AI Summary
InMed Pharmaceuticals Inc. received a notification from Nasdaq indicating non-compliance with the minimum shareholders' equity requirement due to transaction-related expenses from its pending merger with Mentari Therapeutics. The company has 45 days to submit a compliance plan, with the expectation that the merger's closing and associated financing will resolve the issue. Despite the notification, the company's share price has seen a significant increase since the merger announcement.
Key Highlights
- InMed Pharmaceuticals received a Nasdaq notification for non-compliance with minimum shareholders' equity requirement ($1,075,007 vs $2,500,000).
- The company has 45 days to submit a plan to regain compliance, with a potential extension up to 180 days.
- Transaction-related expenses from the merger with Mentari Therapeutics are a primary cause for the equity decline.
- The expected closing of the merger and associated financing are anticipated to restore compliance.
- Share price increased approximately 99.8% since the initial merger announcement.
- The merger is expected to close in Q4 2026, subject to shareholder approval.
Price Impact
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