Tue, 31 Mar 2020

Edison issues update on InMed Pharmaceuticals (IN)

22 Jan 2020, 22:31 GMT+10

LONDON, UK / ACCESSWIRE / January 22, 2020 / InMed has announced that the cannabinoid that is the basis for both its epidermolysis bullosa (EB) and glaucoma programs is cannabinol (CBN). This puts InMed in an attractive position (especially from an intellectual property perspective) as other medical cannabis programs are focused on either tetrahydrocannabinol (THC) and/or cannabidiol (CBD) for a variety of indications. Importantly, from a regulatory perspective, CBN is believed to have either slight or no psychoactivity, but it does have a number of beneficial effects including reducing inflammation and intraocular pressure (IOP).

We are maintaining our valuation of C$259m or C$1.50 per basic share (C$1.24 per diluted share). We will review our probabilities of success for INM-755 and INM 088 as the products progress. InMed had C$14.8m in cash and marketable securities at 30 September and we believe this provides a runway into FY21.

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