Vancouver, British Columbia — May 6, 2026 — Leads & Copy —
InMed Pharmaceuticals Inc. (NASDAQ: INM) reported its financial results for the third quarter of fiscal year 2026, which ended March 31, 2026.
The company’s financial statements and related MD&A for the quarter are available at www.inmedpharma.com, www.sedarplus.com and www.sec.gov.
According to InMed President and CEO Eric A. Adams, preclinical data supports the development of INM-901 for Alzheimer’s disease through its targeting of neuroinflammation. Data from advanced human brain organoid systems demonstrated anti-neuroinflammatory effects consistent with findings observed across multiple in vivo and ex vivo studies.
InMed’s proprietary small molecule drug candidate INM-901 is a preferential signaling agonist of the CB1/CB2 receptors and is being developed as a potential treatment for Alzheimer’s disease, focusing on modulating neuroinflammation. During the quarter, InMed announced preclinical data demonstrating INM-901’s effects in reducing neuroinflammation in 3D human brain organoid models of Alzheimer’s disease.
The in vitro human organoid models incorporate a complex cellular environment relevant to neurodegenerative disease. The organoids are composed of neurons, astrocytes, vascular cells and microglia and can be used to bridge the gap between traditional animal models and human clinical trials.
INM-901 was evaluated in two distinct human 3D organoid models: a general model of neuroinflammation induced with lipopolysaccharide (“LPS”) and interferon-gamma (“IFN-γ”); and, Stem Pharm’s proprietary neuroinflammation Alzheimer’s disease model with specific features observed in Alzheimer’s disease patients.
Key observations included:
INM-901 demonstrated a reduction in neuroinflammation in Stem Pharm’s LPS-induced model and in their Alzheimer’s disease model. A dose-dependent reduction of key pro-inflammatory markers such as IL-6 and IL-8 was seen in both neuroinflammation models.
The effects align with prior findings from an in vivo Alzheimer’s model and an ex vivo LPS-induced neuroinflammation model and provides supportive evidence of mechanistic translation from animal models to human tissue systems.
On March 4, 2026, the Company’s board of directors ratified, confirmed and approved the decision of the board members of BayMedica to wind down and exit BayMedica’s commercial operations business segment (“Commercial Operations”), which is the only revenue-generating commercial operations of the Company. BayMedica intends to substantially complete the wind down and exit prior to the end of its fiscal year ending June 30, 2026. During the interim period leading to the completion of operational wind down, BayMedica will continue its commercial operations including sales, marketing, limited manufacturing, and logistics.
Following the classification of the Commercial segment as discontinued operations, the Company has one reportable segment that constitutes consolidated results consisting of its operations. Unless otherwise noted, all activities and amounts reported relate to the continuing operations of the Company and exclude activities and amounts related to discontinued operations.
For the three months ended March 31, 2026, InMed reported a net loss of $3.0 million, compared to a net loss of $2.1 million in the same period the previous year. The increase was largely driven by higher expenses related to pharmaceutical research and development activities, as well as financing costs.
Pharmaceutical research and development for continuing operations were $1.0 million for the three months ended March 31, 2026, compared with $0.4 million for the three months ended March 31, 2025. The increase was primarily due to an increase in external contractors relating to our INM-901 program.
General and administrative expenses for continuing operations were $1.7 million for the three months ended March 31, 2026, compared to $1.6 million the same period the previous year. The increase resulted primarily from a combination of changes including lower accounting fees, share-based payments fees, and shareholder communication fees.
As of March 31, 2026, the Company’s cash, cash equivalents and short-term investments were $5.2 million, which compares to $10.8 million on June 30, 2025.
The Company reported no revenue from continuing operations for the period. The discontinued commercial operations generated revenue of $0.7 million during the period; however, its results are classified as discontinued operations and are presented separately from continuing operations.
InMed Pharmaceuticals is a pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates targeting the CB1/CB2 receptors. InMed’s pipeline consists of three separate programs in the treatment of Alzheimer’s, ocular and dermatological indications.
Source: InMed Pharmaceuticals Inc.
