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OUR NEW PROFILE IS:   (Nasdaq: INM)

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READ THE INVESTOR PRESENTATION HERE

INM has $11.5 Mill in Cash as of Dec. 31 with Just 3.33 Mill Shares Outstanding.  It is Sitting Just Above a Buck Right Now!!

The Market Cap is Sitting at a Fraction of Cash on Hand

Latest Financials Show Revenue Growth of 46% Quarter over Quarter and Growing

Upcoming Milestone for Q1 2023:  Complete Phase 2 clinical trial enrollment in Epidermolysis Bullosa 

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Hello Everyone,

With the Silicon Valley fiasco and interest rate factors we are seeing some choppy markets.

We were able to present you with a few bright spots last week that saw significant moves off of the opening trade the days we profiled them.

Our profile from Wednesday opened at 1.89 and hit 2.07 for a potential 9% move before pulling back while the market took a big hit.

Our profile from Monday opened at 2.78 and went on to hit 5.20 in the aftermarket Wednesday for a 87% move.

Our profile from the previous Friday opened up under .18 and it hit .26 for a 44% move in just 3 sessions and it still sits at those highs.

We have another Nasdaq profile for you to look at for Monday’s trading.  This is a company that we have never profiled on this newsletter before but after looking the numbers involved with this one I was blown away.

Pull up INM right away and start your research on it.

InMed Pharmaceuticals is a global leader in the research, development and manufacturing of rare cannabinoids, including clinical and preclinical programs targeting the treatment of diseases with high unmet medical needs. They also have significant know-how in developing proprietary manufacturing approaches to produce cannabinoids for various market sectors.

This is one of the MAJOR CATALYSTS for INM:

As you can see this one has a market cap of a fraction of what the company has in Cash.

You don’t often see this especially with a Biotech.  We have recently seen several small cap biotech companies filing for chapter 11 or bankruptcy.

InMed Provides Business Update and Milestones for 2023

• Complete Phase 2 clinical trial enrollment in Epidermolysis Bullosa in 1Q 2023
• Progress preclinical research in glaucoma in preparation for human trials
• Advance research using rare cannabinoids in treating neurodegenerative diseases such as Alzheimer’s, Huntington’s and Parkinson’s

VANCOUVER, British Columbia, Jan. 10, 2023 (GLOBE NEWSWIRE) — InMed Pharmaceuticals Inc. (“InMed” or the “Company”) (Nasdaq: INM), a leader in the pharmaceutical research, development and manufacturing of rare cannabinoids and cannabinoid analogs, today outlines key accomplishments from 2022 and provides business update and catalysts for 2023.

“Over the course of 2022, we strengthened our position as a leader in rare cannabinoid R&D, creating a unique offering as the only company that has the breadth and depth in cannabinoid drug research, development and significant manufacturing know-how. Despite the many economic pressures affecting businesses on a global scale, including challenging capital markets, particularly in biotech, InMed was able to advance its programs and achieve a number of key milestones. As we move forward into 2023, we are very encouraged by the strength of our pharmaceutical programs, with several material milestones anticipated in the coming quarters,” commented Eric A. Adams, InMed President and CEO.

Key accomplishments in 2022:

INM-755 in Epidermolysis Bullosa

• Activated 11 clinical trial sites in seven countries for the Phase 2 study
• Expanded from adult subjects to include adolescents following independent review of early safety data
• Progressed clinical trial with enrollment and treatment of 15 patients, with the 16^th patient enrolled for treatment in early January 2023

INM-088 in Glaucoma.

• \Completed a pre-Investigational New Drug (“pIND”) application meeting with the FDA and gained alignment on the proposed design of the Phase 1-2 clinical trial program
• Advanced preclinical toxicology in preparation for clinical trial

INM-900 Series in Neurodegenerative diseases

• Launched and advanced neurodegenerative disease program following promising research showing how specific cannabinoid analogs may inhibit or slow disease progression
• Filed international patent application using rare cannabinoids and analogs for the potential treatment of neurodegenerative diseases
• Grant received by research partner from NSERC to support preclinical research

Cannabinoid Analogs

• Published North American patent for several cannabinoid analogs with broad claims of molecular structure, uses and methods of manufacturing
• Initiated research collaboration with leading expert to screen cannabinoid analogs for pharmacological properties and potential therapeutic applications
• Advanced two analogs for further lead identification in neurodegenerative disease

Commercial

• Launched B2B sales of premium rare cannabinoids CBT, CBDV and THCV in addition to existing CBC sales in the health and wellness sector via our subsidiary, BayMedica

Publications

• Published peer-reviewed study highlighting potential role of THCV, CBC and other rare cannabinoids on various skin conditions
• Published peer-reviewed article on the use of CBN as a potential treatment for glaucoma

Corporate

• Raised in excess of $16M through several financings to fund advancement of pharmaceutical programs and corporate activities through the end of calendar year 2023.

Business update and upcoming milestones:

INM-755 – Phase 2 clinical trial in the treatment of Epidermolysis Bullosa
To date, the Phase 2 clinical trial has enrolled 16 patients of its targeted 20 patients. Several additional prospective patients have been identified for screening at the clinical sites; therefore, the Company decided to extend the enrollment period to the end of March 2023. The clinical trial is evaluating the safety of INM-755 cannabinol cream and its preliminary efficacy in treating symptoms of itch, pain, and wound healing in patients with epidermolysis bullosa. As the trial is double blinded, InMed will remain blinded to INM-755 treatment outcomes until the last patient has completed treatment and the database is locked and analyzed.

INM-088 – Advancing towards human trials
The Company continues to conduct the required preclinical work, including toxicology studies, and has planned several GLP studies in 2023 in advance of human clinical trials. Outcomes from our pre-IND meeting with the FDA in 2022 provided important feedback on our proposed preclinical studies and for the design of human clinical trials. Advancing to human trials in a disease indication with a very large patient population like glaucoma will be a significant development for the Company. We are on track to begin this clinical trial in 2024.

INM-900 – Developing a new approach in neurodegenerative disease
Cannabinoids are known to be highly lipophilic and can cross the blood brain barrier, making the non-psychedelic cannabinoids attractive pharmaceutical agents for targeting neurological disorders. Our pipeline was expanded this year with the addition of our neurodegenerative disease program. With recent promising preclinical data, InMed plans to expedite its INM-900 program for the potential treatment of neurodegenerative diseases such as Alzheimer’s Disease, Parkinson’s Disease, and Huntington’s Disease. Our research demonstrated the neuroprotective effects of specific cannabinoid analogs and their potential to improve neuronal function. Two cannabinoid analogs are being assessed in in vivo models of neurodegenerative disease. Our approach may target multiple novel disease pathways versus the majority of drugs currently in clinical development for these diseases.

Novel cannabinoid analogs – protecting the R&D investment
InMed continues to develop a valuable library of novel, proprietary cannabinoid analogs. These analogs are being selectively screened and developed for targeting specific disease outcomes, safety profiles, and/or pharmacological properties such as improved delivery. In addition, these novel cannabinoid analogs are patentable, increasing their commercial attractiveness for internal development or as licensing candidates to other drug development companies.

BayMedica commercial business
Our efforts in the first half of 2022 were primarily focused on advancing the commercial side of the business following the acquisition of BayMedica in late 2021. Although BayMedica continues to be a reliable source of rare cannabinoids, demand has not accelerated as quickly as anticipated for a variety of reasons. As we enter 2023, we will continue to evaluate strategic options and long-term supply agreements for this business segment. In 2022, BayMedica supplied highly pure rare cannabinoids for use in Radicle Science, Inc.’s Radicle Energy rare cannabinoid study to assess the effects of delta-9 THCV on energy, focus/attention, appetite and weight/body mass index (BMI). The study is part of Radicle Science’s large-scale evaluations of several rare cannabinoids, involving up to 10,000 participants in total. The consumer-driven trial is complete and results are expected in the first half of 2023, providing much needed supportive data to demonstrate the effects of delta-9 THCV.

Business development
The Company continues to evaluate and pursue business development opportunities which align strategically with the Company’s current direction and pharmaceutical programs.

In light of current capital market challenges, the Company’s main priority is to continue to adequately resource the Company’s activities while maintaining a healthy balance sheet. With the completion of recent financings and depending on how we prioritize investment into our various development activities, InMed has a projected cash runway into early 2024, allowing the Company to hit certain material milestones over the coming year which we believe will increase shareholder value.

Management looks forward to updating shareholders over the coming months.

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InMed is a leader in the pharmaceutical research, development & manufacturing of rare #cannabinoids. We have a Phase 2 clinical trial for #EB & preclinical programs in #glaucoma & neurodegenerative diseases, such as #Alzheimers

More on our pipeline: https://t.co/ZH9pAC4rMv$INM pic.twitter.com/dNNmmhkjI9

— InMed Pharmaceuticals (@inmedpharma) March 1, 2023

Manufacturing & Commercial

INM is currently using modern manufacturing approaches to produce rare cannabinoids economically so they can be used in products for the health and wellness industry. Rare cannabinoids unlike CBD and THC are very difficult to grow and extract economically- InMed solve for that issue.  They are well positioned once big consumer goods companies start entering the space and need pure, consistent, economic ingredients at scale.

InMed Reports Second Quarter Fiscal 2023 Financial Results and Provides Business Update

• Closed calendar year 2022 with strong cash position of $11.5 million
• Approaches completion of enrollment for Ph 2 clinical trial in EB
• Advances research using rare cannabinoids in treating glaucoma and neurodegenerative diseases such as Alzheimer’s, Huntington’s and Parkinson’s

VANCOUVER, British Columbia, Feb. 17, 2023 (GLOBE NEWSWIRE) — InMed Pharmaceuticals Inc. (“InMed” or the “Company”) (Nasdaq: INM), a leader in the pharmaceutical research, development and manufacturing of rare cannabinoids and cannabinoid analogs, today announced financial results for the second quarter of fiscal year 2023 which ended December 31, 2022.

The Company’s full financial statements and related MD&A for the second quarter ended December 31, 2022, are available at www.inmedpharma.com, www.sedar.com and at www.sec.gov.

“This period was another strong operational quarter for the Company as we advanced our pharmaceutical programs, including the launch of INM-900 series compounds for the evaluation of neurodegenerative diseases. We are currently approaching the end of enrollment in our Ph 2 clinical trial in Epidermolysis Bullosa (“EB”). As we move into calendar 2023, we have a strong pipeline of programs at various stages of development,” said Eric A. Adams, President and CEO of InMed. “Fiscal Q2 saw significant cost savings across the different business segments resulting in a reduced cash burn. In addition, our strong cash position of over $11 million enables us to pursue several material milestones throughout calendar 2023.”

Business update

Pharmaceutical Development Programs

INM-755 – Phase 2 Clinical Trial in EB
To date, the Ph 2 clinical trial has enrolled 17 patients of its targeted 20 patients. Several additional prospective patients have been identified for screening at the clinical sites and enrollment is expected to complete at the end of March 2023, with initial read out expected in early calendar 3Q 2023.

INM-088 – Glaucoma Program
The Company continues to conduct the required IND enabling preclinical testing and has planned GLP toxicology studies in mid-2023. Human clinical trials remain on track to commence in calendar 2024.

INM-900 – Neurodegenerative Diseases Program
Two cannabinoid analogs are being assessed in in vivo models of neurodegenerative diseases and the Company expects these studies to be completed and a candidate selected for further development in calendar 2Q 2023. Our research demonstrated the neuroprotective effects of specific cannabinoid analogs and their potential to improve neuronal function.

BayMedica Commercial Business
BayMedica continues to be a leading producer of cannabichromene (CBC) with increased revenue in the last two quarters, including a 46% quarter over quarter increase in fiscal 2Q 2023. Management continues to evaluate strategic options and long-term supply agreements for this business segment.

Financing Activities and Results of Operations (expressed in US Dollars):
On November 21, 2022, the Company closed a private placement of its common shares and issued an aggregate of 1,818,185 common shares (or pre-funded warrants in lieu of), for gross proceeds of approximately $6 million.

For the six months ended December 31, 2022, the Company recorded a net loss of $5.6 million, or $3.54 per share, compared with a net loss of $7.3 million, or $14.03 per share, for the six months ended December 31, 2021.

Research and development and patents expenses were $2.2 million for the six months ended December 31, 2022, compared with $4.0 million for the six months ended December 31, 2021. The decrease in research and development and patents expenses was primarily due to decreased expenditures related to the transition from capital intensive GLP toxicology into relatively less capital intensive clinical trials.

The Company incurred general and administrative expenses of $3.0 million for the six months ended December 31, 2022, compared with $3.2 million for the six months ended December 31, 2021. The decrease was due to lower personnel expenses, insurance fees, investor relation expenses, accounting fees and stock-based compensation expenses, and was partially offset by higher consulting fees and BayMedica operating costs.

Revenues increased by $0.5 million to $0.8 million in our BayMedica segment, or 198%, for the six months ended December 31, 2022, compared to the six months ended December 31, 2021. The increase in sales results from expanded marketing efforts to sell inventory on-hand and the Company acquired BayMedica on October 13, 2021, so the six months ended December 31, 2021 results were approximately 2 and a half months.

At December 31, 2022, the Company’s total issued and outstanding shares were 1,589,992. Subsequent to quarter end, 1,738,204 pre-funded warrants were exercised. As of the date of these filings, the issued and outstanding shares are 3,328,196. During the three and six months ending December 31, 2022, the weighted average number of common shares was 2,300,526 and 1,583,073, which is used for the calculation of loss per share for the respective interim periods.

At December 31, 2022, the Company’s cash, cash equivalents and short-term investments were $11.5 million, which compares to $6.2 million at June 30, 2022. The increase in cash, cash equivalents and short-term investments during the six months to December 31, 2022, was primarily the result of both the September 13, 2022 and November 21, 2022 private placements partially offset by cash outflows from operating activities. With the completion of recent financings and depending on how we prioritize investment into our various development activities, InMed has a projected cash runway to the end of calendar 2023, allowing the Company to pursue certain material milestones over the coming year which we believe will increase shareholder value.

MANAGEMENT

Eric A. Adams, MIBS

Chief Executive Officer & President

Eric A. Adams was appointed Chief Executive Officer, President and Director of InMed Pharmaceuticals, Inc. in June 2016. During his tenure at InMed, he has reconstituted the Board of Directors and the Executive management team and has raised more than $35M in

capital to fund operations. Mr. Adams is a seasoned biopharmaceutical executive with more than 25 years of experience in establishing corporate entities, capital formation, global market development, mergers & acquisitions, licensing and corporate governance.

Mr. Adams previously served as CEO at enGene Inc., where he oversaw its transformation from a nascent start-up into a venture capital-backed leader in gene therapy. Prior to enGene, Mr. Adams held senior positions in global market development with QLT Inc. (Vancouver), Advanced Tissue Sciences Inc. (La Jolla, CA), Abbott Laboratories (Chicago, IL), and Fresenius AG (Germany). As the previous Chairman of BIOTECanada’s Emerging Company Advisory Board, and for his extensive generosity in mentoring biotech entrepreneurs, Mr. Adams is well-respected within the Canadian biotech industry as a strategic advisor to a number of early-stage biotech companies.

He is a dual citizen of Canada and the United States, and holds a Masters of International Business from the University of South Carolina and a Bachelor’s Degree in Chemistry from the University of Southern Indiana.

Michael Woudenberg, P.Eng.

Chief Operating Officer

Mr. Woudenberg joined InMed with more than 20 years of successful drug development, process engineering, GMP manufacturing and leadership experience. He brings valuable expertise in the development, technology transfer and commercialization of

active pharmaceutical ingredients (APIs) and drug products.

Prior to joining InMed in 2018, Mr. Woudenberg held various positions within 3M, Cardiome Pharma, Arbutus Biopharma and most recently as the Managing Director of Phyton Biotech, LLC. His experience includes process and formulation development from lab/pre-clinical products through the various stages of clinical development to validated and successfully approved and inspected commercial APIs and drug products. Additionally, he has extensive experience with regards to regulatory inspections (e.g. FDA, European, Australian, Korean, Japanese, Canadian) and their related chemistry, manufacturing and control requirements from clinical to commercial production of approved products.

Mr. Woudenberg received his Bachelor of Science, Chemistry and Bachelor of Engineering Science, Chemical at Western University of London, Ontario, Canada.

Alexandra D.J. Mancini, MSc

Senior Vice President, Clinical & Regulatory Affairs

Ms. Mancini has more than 30 years of global biopharmaceutical R&D experience, overseeing a wide range of drug development activities, with a particular emphasis on clinical development and regulatory affairs. She has been an executive with numerous biotech

companies, including Sr. V.P. of Clinical & Regulatory Affairs at Sirius Genomics, where her responsibilities included identifying and managing external resources for medical expertise in sepsis, clinical data management and statistical theory, programming and analyses.

Prior to joining Sirius Genomics, Ms. Mancini served as Sr. V.P. of Clinical & Regulatory Affairs at INEX Pharmaceuticals; and V.P. of Regulatory Affairs at QLT Inc., where she played a significant role in the development of VISUDYNE from the preclinical stage through to its approval as the first drug for age-related macular degeneration. While at QLT, Ms. Mancini also led the regulatory approval process for the anti-cancer drug PHOTOFRIN and its associated medical devices, the first drug-device combination product approved by the U.S. Food and Drug Administration.

Ms. Mancini holds a Master of Science degree from the University of Toronto.

Eric C. Hsu, PhD

Senior Vice President, Pre-Clinical Research & Development

Dr. Hsu joined InMed with more than 18 years of scientific leadership experience in the field of gene therapy. Prior to joining InMed, he held various positions within enGene Inc., including V.P. of Research and V.P. of Scientific Affairs and Operations.

Dr. Hsu’s experience includes a wide array of activities, including benchtop research, formulation development and manufacturing process development, as well as patent prosecution, vendor contract negotiations and execution, and research partnerships. He is also responsible for expanding product pipelines, and managing R&D budgets and timelines. Dr. Hsu is considered to be an expert in gene transfer and gene expression using vector systems.

Dr. Hsu received his Doctorate from the Department of Medical Biophysics at the University of Toronto and his Bachelor’s degree from McGill University.

Sarah Li, CPA, CGA

Vice President, Accounting and Controller

Sarah Li joined InMed as Controller in January 2020 and was appointed Vice President of Accounting and Controller in November 2022.

Ms. Li has over 14 years of experience in accounting and finance, including 10 years of experience in management and administration

of mining exploration and development projects. She was previously the Corporate Controller of GoldMining Inc., Uranium Royalty Corp and Entrée Gold Inc. She holds a Certified General Accountant designation and a degree in Economics from the Simon Fraser University.

 

Sincerely,

MICROCAPDAILY