Quarterly ResultMay 7, 2026, 06:08 AM
InMed Q3 FY2026 Net Loss $3.0M; Preclinical INM-901 Data Positive
AI Summary
InMed Pharmaceuticals reported a net loss of $3.0 million for the third quarter of fiscal year 2026, an increase from $2.1 million in the prior year, primarily due to higher pharmaceutical research and development expenses. The Company also announced positive preclinical data for its drug candidate INM-901, showing significant reduction in neuroinflammation in human brain organoid models for Alzheimer's disease. Concurrently, InMed's board approved the wind-down of BayMedica's commercial operations, which was the Company's sole revenue-generating segment.
Key Highlights
- Net loss for Q3 FY2026 was $3.0 million, compared to $2.1 million in Q3 FY2025.
- Cash, cash equivalents, and short-term investments totaled $5.2 million as of March 31, 2026.
- Pharmaceutical R&D expenses for continuing operations increased to $1.0 million from $0.4 million year-over-year.
- Preclinical data for INM-901 demonstrated significant reduction in neuroinflammation in human brain organoid models.
- The board approved winding down BayMedica's commercial operations, the Company's only revenue-generating segment.
- Net loss per share was $(0.73) for Q3 FY2026, compared to $(1.94) in Q3 FY2025.
Price Impact
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