VANCOUVER - InMed Pharmaceuticals Inc. (NASDAQ: INM), a company specializing in the development of small molecule drug candidates, today announced a significant advancement in its Alzheimer's disease program with its proprietary drug candidate, INM-901. Recent preclinical studies have shown that INM-901 can be effectively administered orally, achieving drug concentration levels in the brain comparable to those from intraperitoneal injection, a standard method used in preclinical neurodegenerative disease research.
The oral formulation of INM-901 has the potential to offer considerable benefits over current intravenous antibody therapies for Alzheimer's, including reduced treatment delivery costs and improved patient accessibility. Michael Woudenberg, InMed's COO and SVP of Chemistry, Manufacturing and Controls, highlighted the importance of the data, stating that achieving similar drug levels in the brain with an oral formulation is not common when compared to intraperitoneal delivery. He emphasized the advantages of the oral approach, given the challenges associated with delivering drugs to the brain.
INM-901 is a small molecule capable of penetrating the blood-brain barrier after absorption in the gastrointestinal tract, presenting an alternative to large molecule treatments that often necessitate intravenous infusion and are associated with severe side effects. In contrast, INM-901 aims to reduce these risks and the frequency of medical facility visits required for treatment administration.
The company is continuing its development efforts, focusing on chemistry, manufacturing, and controls for both the drug substance and product formulation. These studies are part of the preparation for an Investigational New Drug (IND) submission.
INM-901 has shown promise in preclinical studies with multiple pharmacological effects, including neuroprotection, neurite extension, and reduction of neuroinflammation, which are critical in addressing Alzheimer's disease.
InMed Pharmaceuticals is dedicated to the development of treatments targeting CB1/CB2 receptors for Alzheimer's, ocular, and dermatological conditions. For more information about INM-901 and InMed's pipeline, interested parties can visit the company's website.
This report is based on a press release statement and contains forward-looking information that involves risks and uncertainties. Actual results may differ materially from those projected in the statements.
In other recent news, Vancouver-based InMed Pharmaceuticals Inc. has announced positive results from a seven-month preclinical Alzheimer's Disease study of its drug candidate, INM-901. The study confirmed improvements in cognitive function, memory, and locomotor activity in subjects. The research used the 5xFAD amyloidosis model and included four groups with different treatments and disease stages. The INM-901-treated Alzheimer's groups showed significant improvements in certain behavior criteria compared to the placebo-treated Alzheimer's groups.
Dr. Eric Hsu, InMed's Senior Vice President of Preclinical Research and Development, expressed that the results support and in some cases improve upon the outcomes of an initial short-term study. He suggested INM-901's potential in targeting multiple biological pathways linked to Alzheimer's Disease. InMed is conducting further analyses to define the mechanisms of action for INM-901 and its potential role in Alzheimer's treatment.
InMed is also advancing the chemistry, manufacturing, and controls for both the drug substance and the drug product formulation, with Good Laboratory Practice studies planned to support an Investigational New Drug submission. These developments are part of the company's ongoing efforts to address diseases with unmet medical needs.
InvestingPro Insights
InMed Pharmaceuticals Inc. (NASDAQ: INM) has been navigating a challenging financial landscape, as reflected in recent InvestingPro metrics. The company's market capitalization currently stands at a modest $1.32 million, underscoring its position as a micro-cap stock in the biotech sector. With a negative price-to-earnings (P/E) ratio of -0.14, it's clear that InMed is not currently generating profits, a common scenario for early-stage pharmaceutical companies focused on research and development.
The financial data also reveals a striking revenue growth of 140.49% for the last twelve months as of Q3 2024, indicating a significant increase in the company's sales. This growth is a positive signal for potential investors, as it may reflect the market's interest in InMed's drug candidates and technology. However, the company's operating income margin stands at -118.06%, suggesting that the costs associated with advancing its drug pipeline, including INM-901, are substantial relative to its revenue.
InvestingPro Tips highlight that InMed holds more cash than debt on its balance sheet, which is a positive sign of financial stability. This tip could be particularly relevant for investors who prioritize a company's ability to sustain its operations without relying on external financing. Additionally, the company's liquid assets exceed its short-term obligations, providing further evidence of InMed's financial resilience in the near term.
For those considering an investment in InMed Pharmaceuticals, there are additional InvestingPro Tips available that delve deeper into the company's financial health and stock performance. Currently, there are 13 more tips listed on InvestingPro that can offer investors a comprehensive view of the company's prospects. Visit the InvestingPro product page for InMed at https://www.investing.com/pro/INM to access these insights.
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