Company Website. Company Presentation.
And as I mentioned above, INM has several potential breakout catalysts to familiarize yourself with ASAP. Here they are:
No. 1 INM Potential Catalyst - A Stunningly Low Float Could Lead To Extreme Volatility
According to the Yahoo Finance website, INM has an insanely tiny float.
The website reports this profile to have approximately 805.86k shares in its float.
Why is that important? It's important on one crucial level. Volatility.
Could more 2022 positive company news help provide a near term spark?
No. 2 INM Potential Catalyst - Research Firm Edison Group Provides Strong $6.00 Price Target
Back in May, the Edison Group slapped a $6.00 price target on INM which provides this profile with 100+% potential upside from Tuesday's closing valuation.
On top of that, they have even given INM a "Bull" estimate target of $16.00.
Here's some highlights from the report:
Company description: A platform of rare cann-a-binoids
InMed Pharmaceuticals is a North American-based biopharmaceutical company focused on researching, developing and manufacturing cann--abinoids for the therapeutic market, and also recently entered the cann-a-binoid commercial sales segment through its BayMedica acquisition. Through its pharma program, it is developing a proprietary pipeline of cann-a-binoids to treat target diseases. Its lead program is INM-755, a tropical cream using CBN for treating EB, which is currently enrolling patients for Phase II trials. It is also developing INM-088 for glaucoma, which is in a preclinical stage, and InMed is preparing for a Food and Drug Administration (FDA) preinvestigational new drug meeting (pre-IND) in Q2 CY22.
In parallel with its pharma program, it is developing its own proprietary manufacturing program IntegraSyn, an enzymatic process that uses E. coli to individually manufacture each of the c 140 cann-a-binoids. INM is also focusing on scaling up the IntegraSyn process to larger batch sizes in advance of commercial scale production. Furthermore, its product library of rare cann-a-binoid analogs creates a commercialization opportunity, while BayMedica’s aptitude in chemical synthesis and yeast biosynthesis to manufacture cann-a-binoids complements InMed’s capabilities in using E. coli through its IntegraSyn manufacturing platform.
With its recent acquisition of BayMedica, InMed is evolving from a pure-play firm focused on pharma R&D to a more diversified one with commercial sales in the health and wellness market, and we now expect it to exhibit near-term revenue generation combined with the longer-term value of its pharma drug development programs.
Valuation: Base scenario at US$85m, or US$6.0 per share
We have considered three scenarios in our risk-adjusted net present value (NPV) analysis. Our base case company valuation is US$85m, or US$6.0 per basic share, while the bull and bear scenarios are US$16.0 per basic share (US$227m) and US$1.5 per basic share (US$21m), respectively, compared to the previous US$20.53 per basic share or US$290m. The change in valuation is primarily due to a reassessment of both the base-case market share for the biosynthesis platform and the INM-755 product, as well as more conservative pricing estimates. In our model, we evaluated three scenarios where InMed could achieve different portions of its addressable market if its biosynthesis process is successfully validated and scaled to commercial levels. We also considered the market penetration InMed’s EB treatment could achieve, as well as the sales growth of the health & wellness products and potential price pressures as competitors enter the market. Given the early stage of its proprietary pipeline, the majority of the valuation stems from its biosynthesis platform, which targets a sizable and growing market for rare cann-a-binoids, and its potential EB treatment (INM-755).
No. 3 INM Potential Catalyst - Could Oversold Leaning Technicals Signal Significant Bounce/Reversal Potential?
As of 4:00PM EST Tuesday, Barchart was reporting this profile to have several oversold leaning technicals.
These technicals could be signaling a healthy reversal could be approaching in the near term.
Here's the definition of a "reversal" from Investopedia:
"A reversal is a change in the price direction of an asset. A reversal can occur to the upside or downside. Following an uptrend, a reversal would be to the downside. Following a downtrend, a reversal would be to the upside. Reversals are based on overall price direction and are not typically based on one or two periods/bars on a chart."
Now, here are some key technicals (as of 4:00PM EST Tuesday) that could signal INM to be leaning oversold and on the verge of a potential reversal.
- 9-Day Relative Strength Index: 34.82%
- 14-Day Relative Strength Index: 35.10%
When these numbers drop down to the 30% range and lower, they can be viewed as being in oversold territory. While in this territory, they can paint the picture of a profile that is undervalued.
- 20-Day Raw Stochastic: 10.98%
- 20-Day Williams %R: 89.02%
As the Raw Stochastic nears the 10% range and lower and the Williams %R nears the 90% range or higher, these technical indicators may also be viewed as oversold and undervalued.
Keep an eye on these technicals closely.
No. 4 INM Potential Catalyst - Huge Business Update Provides Potential For A Bright INM Future
InMed Pharmaceuticals Reports First Quarter Fiscal 2023 Financial Results and Provides Business Update
VANCOUVER, British Columbia, Nov. 11, 2022 (GLOBE NEWSWIRE) -- InMed Pharmaceuticals Inc. (“InMed” or the “Company”) (Nasdaq: INM), a leader in the pharmaceutical research, development and manufacturing of rare cann-a-binoids and cann-a-binoid analogs, today reported financial results for the first quarter of fiscal year 2023, ended September 30, 2022.
Eric A. Adams, InMed CEO, states, “In the first quarter of our new fiscal year, we continue to strengthen our pharmaceutical pipeline in dermatology, ocular and neurodegenerative diseases, as well as continue to screen our library of proprietary analogs for additional therapeutic candidates. Throughout the remainder of the year and into calendar year 2023, we have many milestones to look forward to in our clinical and preclinical programs, including the completion of our Phase 2 clinical trial in epidermolysis bullosa as well as advancing our glaucoma program towards human trials.”
Pharmaceutical Development Programs
INM-755 for the treatment of Epidermolysis Bullosa (“EB”)
Enrollment and patient treatment in the Company’s Phase 2 clinical trial, 755-201-EB, has continued through the first quarter and is expected to complete during calendar year 2022.
InMed’s Phase 2 clinical trial now has all 11 clinical trial sites fully activated to screen and enroll patients. The clinical trial is taking place in seven countries (Austria, Germany, Greece, France, Italy, Israel and Spain).
InMed is evaluating the safety of INM-755 (cann-a-binol) cream and its preliminary efficacy in treating symptoms and wound healing in persons with EB over a 28-day treatment period. This study marks the first time cann-a-binol (“CBN”) has advanced to a Phase 2 clinical trial to be investigated as a therapeutic option to treat a disease.
INM-088 for the treatment of glaucoma
The Company continues to do necessary preclinical work including toxicology and GLP studies in advance of human clinical trials.
Earlier in the year, the Company completed a pre-Investigational New Drug (“pIND”) application discussion with the U.S. Food and Drug Administration (“FDA”) regarding manufacturing, preclinical studies and early clinical development plans for INM-088, a CBN formulation in development for glaucoma. The Company gained alignment with FDA on the design of the initial Phase 1-2 clinical trial to gather preliminary data on the safety and efficacy of INM-088 treatment.
InMed data suggest CBN is the cann-a-binoid of choice for neuroprotection and lowering intraocular pressure in glaucoma and potentially other ocular diseases.
New cann-a-binoid analogs for the treatment of neurodegenerative diseases
The Company continues to advance discovery work to identify an appropriate compound for a preclinical development program for treating neurodegenerative disorders such as Alzheimer’s disease, Parkinson’s disease and Huntington’s disease.
The Company remains focused on the generation of proprietary cann-a-binoid analogs to support its pharmaceutical drug development programs. As these novel cann-a-binoid analogs are patentable, they protect the long-term research investment and commercial opportunities.
BayMedica commercial activities
BayMedica commercial activities remain steady as the Company continues to work through existing inventories as a B2B supplier of rare cann-a-binoids to the health and wellness market. The Company continues to explore potential opportunities for structured supply agreements, commercial collaborations and review other strategic alternatives for the commercial aspect of its business.
Read the full article here.
INM Recap - Multiple Potential Catalysts Could Lead To A Breakout Spark
No. 1 - A Stunningly Low Float Could Lead To Extreme Volatility
No. 2 - Research Firm Edison Group Provides Strong $6.00 Price Target
No. 3 - Could Oversold Leaning Technicals Signal Significant Bounce/Reversal Potential?
No. 4 - Huge Business Update Provides Potential For A Bright INM Future
Coverage is officially initiated on INM. When time permits, do this: